Timberlake Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03225632 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

TIMBERLAKE CONSULTANTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D.C. Corbett

T. Timberlake

REGISTERED OFFICE:

4th Floor

Charles House

108-110 Finchley Road

London

NW3 5JJ

REGISTERED NUMBER:

03225632 (England and Wales)

ACCOUNTANTS:

Numera Partners LLP

4th Floor

Charles House

108-110 Finchley Road

London

NW3 5JJ

FIXED ASSETS

Tangible assets

4

45,962

38,067

Investments

5

70,252

70,252

Investment property

6

85,000

-

201,214

108,319

CURRENT ASSETS

Stocks

1,500

1,610

Debtors

7

1,958,228

1,670,064

Cash at bank and in hand

503,449

647,614

2,463,177

2,319,288

CREDITORS

Amounts falling due within one year

8

1,179,522

1,153,884

NET CURRENT ASSETS

1,283,655

1,165,404

TOTAL ASSETS LESS CURRENT LIABILITIES

1,484,869

1,273,723

CREDITORS

Amounts falling due after more than one year

9

(223,958

)

(250,000

)

PROVISIONS FOR LIABILITIES

(6,529

)

(6,387

)

NET ASSETS

1,254,382

1,017,336

CAPITAL AND RESERVES

Called up share capital

113

113

Share premium

37,844

37,844

Retained earnings

1,216,425

979,379

SHAREHOLDERS' FUNDS

1,254,382

1,017,336

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2022 and were signed on its behalf by:

T. Timberlake - Director

1.	STATUTORY INFORMATION

Timberlake Consultants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including loans from group companies are measured initially at fair value, net of transaction cost and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Financial assets

Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group companies are measured initially at fair value, net of transactions cost and are subsequently measured at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2021

176,316

4,663

57,900

238,879

Additions

6,725

11,638

4,852

23,215

At 31 December 2021

183,041

16,301

62,752

262,094

DEPRECIATION

At 1 January 2021

155,623

4,228

40,961

200,812

Charge for year

6,854

3,018

5,448

15,320

At 31 December 2021

162,477

7,246

46,409

216,132

NET BOOK VALUE

At 31 December 2021

20,564

9,055

16,343

45,962

At 31 December 2020

20,693

435

16,939

38,067

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2021

and 31 December 2021

70,252

NET BOOK VALUE

At 31 December 2021

70,252

At 31 December 2020

70,252

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

85,000

At 31 December 2021

85,000

NET BOOK VALUE

At 31 December 2021

85,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

289,326

291,442

Amounts owed by group undertakings

354,250

10,092

Other debtors

1,314,652

1,368,530

1,958,228

1,670,064

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

17,420

-

Trade creditors

267,111

270,550

Taxation and social security

187,785

336,894

Other creditors

707,206

546,440

1,179,522

1,153,884

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

223,958

250,000

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21

31.12.20

£

£

D.C. Corbett

Balance outstanding at start of year

100,000

-

Amounts advanced

250,078

164,009

Amounts repaid

(350,078

)

(64,009

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

100,000

T. Timberlake

Balance outstanding at start of year

100,000

-

Amounts advanced

241,236

164,009

Amounts repaid

(341,236

)

(64,009

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

100,000

11.	RELATED PARTY DISCLOSURES

Included in other debtors due within one year is an amount of £1,386,833 (2020: £964,722) owed to connected companies.

Included in other creditors due within one year is an amount of £163,001 (2020: £125,651) owed to connected companies.

These companies are connected by virtue of the directors.