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COMPANY REGISTRATION NUMBER: 09724540
Townscape Ltd
Filleted Unaudited Financial Statements
31 August 2023
Townscape Ltd
Financial Statements
Year ended 31 August 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Townscape Ltd
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
6
6
Current assets
Debtors
6
699,765
716,729
Cash at bank and in hand
98
110
---------
---------
699,863
716,839
Creditors: amounts falling due within one year
7
120,095
81,857
---------
---------
Net current assets
579,768
634,982
---------
---------
Total assets less current liabilities
579,774
634,988
Creditors: amounts falling due after more than one year
8
760,000
775,000
---------
---------
Net liabilities
( 180,226)
( 140,012)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 180,228)
( 140,014)
---------
---------
Shareholders deficit
( 180,226)
( 140,012)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Townscape Ltd
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
Mr P A Roberts
Director
Company registration number: 09724540
Townscape Ltd
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 14 Marloew Business Centre, 4-6 Orange Street, Canterbury, CT1 2JA, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2).
5. Investments
Shares in group undertakings
£
Cost
At 1 September 2022 and 31 August 2023
6
----
Impairment
At 1 September 2022 and 31 August 2023
----
Carrying amount
At 31 August 2023
6
----
At 31 August 2022
6
----
6. Debtors
2023
2022
£
£
Other debtors
699,765
716,729
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
15,000
15,000
Other creditors
105,095
66,857
---------
--------
120,095
81,857
---------
--------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
760,000
775,000
---------
---------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.