Time Finance : Period Ending 31st May 2021

Annual Report & Financial Statements

For the year ended 31 May 2021

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

for the Year Ended 31 May 2021

	Page
Company Information	3
Time Finance at a glance	4
Our journey to Time Finance	6
Our people - Meet the team	8
Chairman's Statement	12
Chief Executive Officer's Report	16
Chief Financial Officer's Report	20
Group Strategic Report	24
Group Culture and Governance Report	30
Report of the Directors	36
Report of the Independent Auditors	38
Consolidated Income Statement	42
Consolidated Statement of Comprehensive Income	43
Consolidated Statement of Financial Position	44
Company Statement of Financial Position	46
Consolidated Statement of Changes in Equity	47
Company Statement of Changes in Equity	48
Consolidated Statement of Cash Flows	49
Company Statement of Cash Flows	50
Notes to the Consolidated Financial Statements	51

COMPANY

INFORMATION

for the Year Ended 31 May 2021

Non-Executive Directors

J D Newman (Chairman)

1. Russell J P Telling T Raynes

Directors

E J Rimmer (Chief Executive Officer)

J M A Roberts (Chief Financial Officer)

Company Secretary

J Bodey

Registered Office

St James House

The Square

Lower Bristol Road

Bath

BA2 3BH

Registered Number

05845866 (England and Wales)

Independent Auditors

Moore, Bath

Nominated Advisor & Broker

Cenkos Securities plc, London

Principal Solicitors

Simmons & Simmons, Bristol

Financial Public Relations

Walbrook PR Ltd, London

Registrars

Neville Registrars Ltd, Halesowen

Principal Bankers

NatWest plc, London

Time Finance plc ordinary shares are listed on the Alternative Investment Market of the London Stock Exchange

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Annual Report & Financial Statements 2021

Time Finance at a glance

What we do

At Time Finance we understand that running a business is challenging and funding can mean the difference between standing still or achieving growth. Businesses need to feel confident about their financing in a market where accessing finance is not as easy as it could be. We focus on providing the best solution for our clients, because we put them at the heart of everything we do. Our financial solutions inspire confidence and enable our clients to thrive and prosper.

Supporting some

20,000

SMEs nationwide

How we do it

We specialise in the arrangement and provision of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Working with our broker networks as well as directly with UK business owners, we provide access to an extensive portfolio of solutions comprising: Asset Finance, Invoice Finance, Loans and Vehicle Finance. The businesses we work with also have the flexibility to choose more than one solution dependent on their requirements.

Helping businesses to recover and grow

Since the beginning of the Covid-19 crisis, we have been working hard to help our customers through this turbulent period. Working in partnership with the British Business Bank, we became an accredited lender under the Coronavirus Business Interruption Loan Scheme (CBILS) and the Recovery Loan Scheme (RLS). Both offerings provided further opportunity for our teams to instil reassurance and confidence back into British business through Asset Finance and Loan facilities.

Lending UK businesses

£116m

of funding at 31 May 21

Helping to arrange

£103m

of funding to UK businesses over the year

A dedicated team of

160

employees across 6 UK office locations

Time Finance plc	5
Annual Report & Financial Statements 2021

An industry leader

Our offices

1. Abingdon
2. Bath
3. Birkenhead
4. Cardiff
5. Manchester
6. Warrington

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