Time Finance : Period Ending 31st May 2022

Annual Report & Financial Statements

For the year ended 31 May 2022

Contents of the consolidated

financial statements

for the year ended 31 May 2022

Our Business	1
Company Information	2
Time Finance at a glance	3
Our People	6
Strategic Report	8
Chair's Report	9
Chief Executive Officer's Report	11
Chief Financial Officer's Report	14
Group Strategic Priorities	16
Culture and Environmental, Social and Corporate Responsibility Report	19
Section 172 Statement and Stakeholder Engagement	20
Governance	22
Chair's Introduction to Governance	23
Governance Statement	24
The Audit Committee Report	27
The Remuneration Committee Report	29
Directors' Report	31
Financial Statements	33
Report of the Independent Auditors	34
Consolidated Income Statement	39
Consolidated Statement of Comprehensive Income	40
Consolidated Statement of Financial Position	41
Company Statement of Financial Position	42
Consolidated Statement of Changes in Equity	43
Company Statement of Changes in Equity	43
Consolidated Statement of Cash Flows	44
Company Statement of Cash Flows	45
Notes to the Consolidated Financial Statements	46

Time Finance PLC	1
Annual Report & Financial Statements 2022

Our

Business

"We're well equipped to help

businesses across all four

corners of the UK."

2 Time Finance PLC

Annual Report & Financial Statements 2022

Company

Information

Non-Executive Directors	Independent Auditors
T Raynes (Chair), R Russell, J P Telling	Moore, Bath
Directors	Nominated Advisor & Broker
E J Rimmer (Chief Executive Officer)	Cenkos Securities plc, London
J M A Roberts (Chief Financial Officer)
	Principal Solicitors
Company Secretary	Simmons & Simmons, Bristol
J M A Roberts
	Financial Public Relations
Registered Office	Walbrook PR Ltd, London
St James House, The Square,
Lower Bristol Road, Bath, BA2 3BH	Registrars
	Neville Registrars Ltd, Halesowen
Registered Number
05845866 (England and Wales)	Principal Bankers
	NatWest plc, London
	Time Finance PLC ordinary shares are listed on
	Investment Market of the London

Time Finance PLC	3
Annual Report & Financial Statements 2022

Time Finance at a glance

For the year ended 31 May 2022

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. At Time Finance, we offer funding solutions that bring business ambitions to life.

How we do it

We help our clients find the best solution to meet their needs - whether that's through Asset Finance, Invoice Finance, Business Loans or Vehicle Finance. With our flexible and relationship-driven approach to funding, we are the first choice for some 10,000 UK SMEs and their financial intermediaries. As a people-focussed business, we always pride ourselves on being agile, acting with integrity and being genuine.

Supporting some

10,000

SMEs nationwide

Lending UK businesses

£137m

of funds at 31 May 2022

Helping to arrange

£118m

of funding to UK businesses over the year