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Tower Garments (London) Limited
 
 
Company Registration Number
07922591
 
 
Report of the Directors and
Abridged Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/04/2017
 
End date 31/03/2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
Tower Garments (London) Limited
 
Contents of the Financial Statements
for the Period Ended 31 March 2018
 
 
Page
Company Information 3
 
Report of the Accountants 4
 
Abridged Balance Sheet 5 - 6
 
Notes to the Financial Statements 7 - 10
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
Tower Garments (London) Limited
 
Company Information
for the Period Ended 31 March 2018
 
Directors Levent Hassan
 
 
Registered office Unit J
17 Queensway
Enfield, Middlesex
EN3 4SA
 
Company Registration Number 07922591
 
Accountants Name Gench & Company
Address 3 Jarvis Close
Barking
Essex
IG11 7PZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
Tower Garments (London) Limited
 
Accountants' Report
for the Period Ended 31 March 2018
 
Independent accountants' report
 
Report to the directors on the preparation of the unaudited statutory accounts of the company for theperiod ended 31 March 2018. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of the company for the period ended 31 March 2018 as set out on pages 3 to 10 which comprise of the Balance Sheet and the related notes from the companys accounting records and from information and explanations you have given us. This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the
accounts of the company and state those matters that we have agreed to state to the Board of Directors
of the company, as a body, in this report. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the company and its Board of Directors as a body for our
work or for this report.
 
It is your duty to ensure the company has kept adequate accounting records and to prepare statutory
accounts that give a true and fair view of the assets, liabilities, financial position and profit/(loss) of
the company. You consider the company is exempt from the statutory audit requirement for the
period.
We have not been instructed to carry out an audit of the financial statements. 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 financial
statements.
 
 
 
 
 
 
 
Gench & Company
3 Jarvis Close
Barking
Essex
IG11 7PZ
 
Date 2018-11-12
Page 4
Tower Garments (London) Limited
Balance Sheet
for the Period Ended 31 March 2018
Company registration number 07922591
2018 2017
Notes £ £
Fixed assets
Tangible fixed assets 2 33,066 30,745
_______ _______
Total fixed assets 33,066 30,745
Current assets
Stocks 3 30,152 32,574
Debtors 4 277,015 308,007
Cash at bank and in hand 110,307 37,185
_______ _______
Total current assets/(liabilities) 417,474 377,766
Creditors
Creditors - amounts falling
due within one year 5 90,722 52,767
_______ _______
Net current assets 326,752 324,999
_______ _______
Total assets less current liabilities 359,818 355,744
_______ _______
Net assets/(liabilities) 359,818 355,744
Capital and reserves
Called up share capital 6 100 100
Profit and loss account 7 359,718 355,644
______ ______
Total shareholders funds 359,818 355,744
 
 
 
 
 
 
 
 
 
 
 
 
Page 5
Tower Garments (London) Limited
 
Balance Sheet
for the Period Ended 31 March 2018
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The option not to file the profit and loss account has been taken.
 
For the year ending 31 March 2018 the company was entitled to exemption 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 members have agreed to the preparation of abridged accounts.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2018-11-12
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name Levent Hassan
Status Director
 
The notes form part of these financial statements
 
 
 
 
 
 
 
Page 6
Tower Garments (London) Limited
Notes to the Financial Statements
for the Period Ended 31 March 2018
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings 0
Office equipment 0
Plant and machinery 0
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 7
Tower Garments (London) Limited
Notes to the Financial Statements
for the Period Ended 31 March 2018
2. Tangible fixed assets
Fixtures Total
and fittings
Cost £ £
At 1 April 2017 57,612 57,612
Additions 10,587 10,587
_____ _____
At 31 March 2018 68,199 68,199
Depreciation
At 1 April 2017 26,867 26,867
Charge for year 8,266 8,266
_____ _____
At 31 March 2018 35,133 35,133
Net book value
At 31 March 2018 33,066 33,066
At 31 March 2017 30,745 30,745
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 8
Tower Garments (London) Limited
Notes to the Financial Statements
for the Period Ended 31 March 2018
3. Stocks 2018 2017
Raw materials 30,152 32,574
Total 30,152 32,574
4. Debtors 2018 2017
Trade debtors 225,359 271,584
Other debtors 48,097 32,065
Prepayments and accrued income 3,559 4,358
______ ______
Total 277,015 308,007
5. Creditors amounts falling due within one year 2018 2017
Trade creditors 27,061 6,306
Corporation tax 30,962 35,289
Other taxation and social security 14,851 7,986
Accruals and deferred income 2,808 3,186
Other creditors 15,040
_____ _____
Total 90,722 52,767
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9
Tower Garments (London) Limited
Notes to the Financial Statements
for the Period Ended 31 March 2018
6. Share capital 2018 2017
Authorised type Par value £ £
Ordinary shares 1 100 100
___ ___
Total 100 100
Allotted, called up and paid £ £
Ordinary shares 100 100
___ ___
Total 100 100
7. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 April 2017 355,644
Profit/(Loss) for year 129,114
Dividends paid 125,040
______
Retained Profit/(Loss) at 31 March 2018 359,718
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 10