Company Registration No. 06911502 (England and Wales)
Time In Time Out Media Limited
Unaudited accounts
for the year ended 31 May 2022
Time In Time Out Media Limited
Unaudited accounts
Contents
Time In Time Out Media Limited
Statement of financial position
as at
31 May 2022
Tangible assets
9,123
3,531
Cash at bank and in hand
165,848
196,836
Creditors: amounts falling due within one year
(201,513)
(199,358)
Net current assets
75,382
37,488
Total assets less current liabilities
84,505
41,019
Creditors: amounts falling due after more than one year
(30,000)
(40,000)
Provisions for liabilities
Deferred tax
(1,733)
(525)
Called up share capital
4
4
Profit and loss account
52,768
490
Shareholders' funds
52,772
494
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2022 and were signed on its behalf by
Mr S M Lee
Director
Company Registration No. 06911502
Time In Time Out Media Limited
Notes to the Accounts
for the year ended 31 May 2022
Time In Time Out Media Limited is a private company, limited by shares, registered in England and Wales, registration number 06911502. The registered office is Barnsley Business & Innovation Centre, Innovation Way, Barnsley, South Yorkshire, S75 1JL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Straight Line
Computer equipment
25% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Expenditure on research and development is written off in the year in which it is incurred.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Time In Time Out Media Limited
Notes to the Accounts
for the year ended 31 May 2022
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Charge for the year
2,780
Amounts falling due within one year
Trade debtors
107,760
20,469
Accrued income and prepayments
100
3,362
Other debtors
3,187
16,179
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
9,714
10,000
Trade creditors
58,782
46,441
Taxes and social security
130,321
140,889
Other creditors
2,696
2,028
7
Creditors: amounts falling due after more than one year
2022
2021
8
Average number of employees
During the year the average number of employees was 9 (2021: 9).