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Registration number: 05904263

L Townend Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

L Townend Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

L Townend Limited

Company Information





 

Directors




 

Ms Kathryn Pullar

Mr Richard Townend

Company secretary

Mrs Margaret Townend

Registered office





 

Bottoms Mill
Woodhead Road
Holmfirth
West Yorkshire
HD9 2PU

Accountants

D & A Hill
No.18 T8/9 Brooke's Mill
Armitage Bridge
Huddersfield
West Yorkshire
HD4 7NR

 

L Townend Limited

Directors' Report
for the Year Ended 31 August 2023

The directors present their report and the financial statements for the year ended 31 August 2023.

Directors of the company

The directors who held office during the year were as follows:

Ms Kathryn Pullar

Mr Richard Townend

Principal activity

The principal activity of the company is commercial vehicle body building.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 28 September 2023 and signed on its behalf by:
 

.........................................
Mr Richard Townend
Director

 

L Townend Limited

(Registration number: 05904263 )
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

255,730

169,251

Current assets

 

Stocks

5

170,184

165,940

Debtors

6

215,404

268,973

Cash at bank and in hand

 

72,300

212,983

 

457,888

647,896

Creditors: Amounts falling due within one year

7

(244,711)

(356,102)

Net current assets

 

213,177

291,794

Net assets

 

468,907

461,045

Capital and reserves

 

Called up share capital

8

2

2

Profit and loss account

468,905

461,043

Total equity

 

468,907

461,045

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 September 2023 and signed on its behalf by:
 

 

L Townend Limited

(Registration number: 05904263 )
Balance Sheet as at 31 August 2023

.........................................
Mr Richard Townend
Director

 

L Townend Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bottoms Mill
Woodhead Road
Holmfirth
West Yorkshire
HD9 2PU
United Kingdom

These financial statements were authorised for issue by the Board on 28 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents the net sales of goods, excluding value added tax.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

L Townend Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

10% on reducing balance

Plant and machinery

20% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 8).

 

L Townend Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2023

4

Tangible assets

Improvements to property
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 September 2022

29,324

191,530

6,297

295,475

Additions

3,475

93,854

1,601

138,159

Disposals

-

(33,000)

-

(104,607)

At 31 August 2023

32,799

252,384

7,898

329,027

Depreciation

At 1 September 2022

11,805

136,741

4,572

200,257

Charge for the year

2,099

25,505

832

44,108

Eliminated on disposal

-

(11,880)

-

(47,661)

At 31 August 2023

13,904

150,366

5,404

196,704

Carrying amount

At 31 August 2023

18,895

102,018

2,494

132,323

At 31 August 2022

17,519

54,789

1,725

95,218

Total
£

Cost or valuation

At 1 September 2022

522,626

Additions

237,089

Disposals

(137,607)

At 31 August 2023

622,108

Depreciation

At 1 September 2022

353,375

Charge for the year

72,544

Eliminated on disposal

(59,541)

At 31 August 2023

366,378

Carrying amount

At 31 August 2023

255,730

At 31 August 2022

169,251

 

L Townend Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2023

5

Stocks

2023
£

2022
£

Work in progress

168,284

164,240

Other inventories

1,900

1,700

170,184

165,940

6

Debtors

Current

2023
£

2022
£

Trade debtors

194,832

248,651

Prepayments

20,382

20,132

Other debtors

190

190

 

215,404

268,973

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

205,311

263,113

Taxation and social security

22,482

75,925

Accruals and deferred income

4,283

7,554

Other creditors

12,635

9,510

244,711

356,102

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2