Timelock Management Systems Limited - Accounts to registrar (filleted) - small 18.2
Timelock Management Systems Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2022 |
| for |
| Timelock Management Systems Limited |
| Timelock Management Systems Limited (Registered number: 02883182) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2022 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| Timelock Management Systems Limited |
| Company Information |
| for the Year Ended 30 April 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Business Advisers |
| Alexandra House |
| 43 Alexandra St |
| Nottingham |
| Nottinghamshire |
| NG5 1AY |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Timelock Management Systems Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Timelock Management Systems Limited for the year ended 30 April 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Timelock Management Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Timelock Management Systems Limited and state those matters that we have agreed to state to the Board of Directors of Timelock Management Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Timelock Management Systems Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Timelock Management Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Timelock Management Systems Limited. You consider that Timelock Management Systems Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Timelock Management Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants & Business Advisers |
| Alexandra House |
| 43 Alexandra St |
| Nottingham |
| Nottinghamshire |
| NG5 1AY |
| Timelock Management Systems Limited (Registered number: 02883182) |
| Balance Sheet |
| 30 April 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Timelock Management Systems Limited (Registered number: 02883182) |
| Balance Sheet - continued |
| 30 April 2022 |
| 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. |
| 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 |
| Timelock Management Systems Limited (Registered number: 02883182) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2022 |
| 1. | STATUTORY INFORMATION |
| Timelock Management Systems Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied stated net of discounts and of Value Added Tax. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
| Tangible fixed assets |
| Investment property | - |
| Investment property F&F | - |
| Fixtures and fittings | - |
| Investment Property |
| Investment properties, being properties held to earn rentals or for capital appreciation or both, are measured initially at cost, which includes purchase price and any directly attributable expenditure. |
| Investment properties are revalued to their fair value at each reporting date and any changes in value are recognised in profit and loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| A financial asset or a financial instrument is recognised only when the entity becomes a party to the contractual provisions of the instruments. |
| Basic financial instruments are initially recognised at the transactions price. |
| 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. |
| Timelock Management Systems Limited (Registered number: 02883182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Investment | Fixtures |
| Investment | property | and |
| property | F&F | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 May 2021 |
| Disposals | ( |
) | ( |
) |
| Revaluations |
| At 30 April 2022 |
| DEPRECIATION |
| At 1 May 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| At 30 April 2021 |
| The investment properties have been valued by the directors based on previous professional valuations and current market comparisons. Deferred tax is provided on gains at the rate expected to apply when the properties are sold. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Timelock Management Systems Limited (Registered number: 02883182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2022 |
| 7. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 May 2021 |
| Reclass to revaluation reserve | 196,762 |
| At 30 April 2022 |
| 8. | RELATED PARTY DISCLOSURES |
| Included in other creditors at 30 April 2022 is the sum of £103,750 owing to the directors of the company (2021 - £122,173). |