TIME FINANCE PLC

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +11.7%

  £33,230,000 → £37,120,000

• Cash

  +212.6%

  £1,590,000 → £4,970,000

• Net assets

  +8.5%

  £66,135,000 → £71,770,000

• Employees

  +10.6%

  142 → 157

• Operating profit

  +31.2%

  £5,984,000 → £7,851,000

• Profit before tax

  +32.4%

  £5,935,000 → £7,856,000

• Wages

  +7.6%

  £8,085,000 → £8,701,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. TIME FINANCE PLC 2020-12-06 → present
2. 1PM PLC 2006-06-14 → 2020-12-06

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Sumer Auditco Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors, therefore, consider the going concern basis of accounting to be appropriate. Based on this review, the Committee has a reasonable expectation that the Group has adequate resources to continue in existence for the foreseeable future and has concluded it is appropriate to adopt the going concern basis of accounting in the preparation of the financial statements.”

Group structure

1. TIME FINANCE PLC · parent
   1. Time Broker Finance Limited 1% · England · Asset Finance
   2. Time Vendor Finance Limited 1% · England · Asset Finance
   3. Time Hard Asset Finance Limited 1% · England · Asset Finance
   4. Time Property Finance Limited 1% · England · Commercial Loans
   5. Time Invoice Finance Limited 1% · England · Invoice Finance
   6. Time Commercial Finance Ltd 1% · England · Holding company

Significant events

• “The turbulent macro-economic conditions led to an increase in insolvencies across the wider SME market, with client attrition proving to be a drag on client numbers growth.”
• “The Asset Finance division faced challenges including a high-profile Supreme Court ruling around commission disclosure in the Motor Finance sector (though risk to Time Finance was minor) and disruption from moving premises.”
• “A new front-office system was installed in the Asset Finance division during the later part of the financial year.”
• “Over £8,000 was raised through various events, including a 17 strong team football tournament held in Manchester, bake off challenges, cross country runs and a 'Tough Mudder', for 'The Ben Saunders Foundation'.”
• “The UK economy faced significant uncertainty from the COVID-19 pandemic, a general election and subsequent change of Government, macro-economic challenges with higher-than-expected inflation, supply chain difficulties and tightening credit conditions leading to an increase in insolvencies.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.