IRIS Accounts Production v24.1.9.2 05267538 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 Ordinary D 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh052675382022-10-31052675382023-10-31052675382022-11-012023-10-31052675382021-10-31052675382021-11-012022-10-31052675382022-10-3105267538ns15:EnglandWales2022-11-012023-10-3105267538ns14:PoundSterling2022-11-012023-10-3105267538ns10:Director12022-11-012023-10-3105267538ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3105267538ns10:SmallEntities2022-11-012023-10-3105267538ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3105267538ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3105267538ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3105267538ns10:FullAccounts2022-11-012023-10-3105267538ns10:OrdinaryShareClass12022-11-012023-10-3105267538ns10:OrdinaryShareClass22022-11-012023-10-3105267538ns10:OrdinaryShareClass32022-11-012023-10-3105267538ns10:OrdinaryShareClass42022-11-012023-10-3105267538ns10:Director22022-11-012023-10-3105267538ns10:CompanySecretary12022-11-012023-10-3105267538ns10:RegisteredOffice2022-11-012023-10-3105267538ns5:CurrentFinancialInstruments2023-10-3105267538ns5:CurrentFinancialInstruments2022-10-3105267538ns5:Non-currentFinancialInstruments2023-10-3105267538ns5:Non-currentFinancialInstruments2022-10-3105267538ns5:ShareCapital2023-10-3105267538ns5:ShareCapital2022-10-3105267538ns5:RetainedEarningsAccumulatedLosses2023-10-3105267538ns5:RetainedEarningsAccumulatedLosses2022-10-3105267538ns5:PlantMachinery2022-11-012023-10-3105267538ns5:ComputerEquipment2022-11-012023-10-3105267538ns5:PlantMachinery2022-10-3105267538ns5:ComputerEquipment2022-10-3105267538ns5:PlantMachinery2023-10-3105267538ns5:ComputerEquipment2023-10-3105267538ns5:PlantMachinery2022-10-3105267538ns5:ComputerEquipment2022-10-3105267538ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3105267538ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3105267538ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-10-3105267538ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-10-3105267538ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-10-3105267538ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-10-3105267538ns5:DeferredTaxation2022-10-3105267538ns5:DeferredTaxation2022-11-012023-10-3105267538ns5:DeferredTaxation2023-10-3105267538ns10:OrdinaryShareClass12023-10-3105267538ns10:OrdinaryShareClass22023-10-3105267538ns10:OrdinaryShareClass32023-10-3105267538ns10:OrdinaryShareClass42023-10-31
REGISTERED NUMBER: 05267538 (England and Wales)











Financial Statements

for the Year Ended 31 October 2023

for

TOWNS CONSTRUCTION LIMITED

TOWNS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05267538)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TOWNS CONSTRUCTION LIMITED

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr L R Towns
Mrs C T Kelly





SECRETARY: Mrs L J Towns





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 05267538 (England and Wales)





ACCOUNTANTS: Conroy & Lermer
Chartered Accountants
42 Lytton Road
BARNET
EN5 5BY

TOWNS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05267538)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,656 35,763

CURRENT ASSETS
Debtors 5 325,000 325,000
Cash at bank and in hand 24,093 37,529
349,093 362,529
CREDITORS
Amounts falling due within one year 6 293,846 280,393
NET CURRENT ASSETS 55,247 82,136
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,903

117,899

CREDITORS
Amounts falling due after more than one year 7 (19,168 ) (29,168 )

PROVISIONS FOR LIABILITIES 9 (6,368 ) (8,941 )
NET ASSETS 57,367 79,790

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 57,167 79,590
SHAREHOLDERS' FUNDS 57,367 79,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:



Mr L R Towns - Director


TOWNS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05267538)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Towns Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 November 2022 71,106 3,430 74,536
Additions - 952 952
At 31 October 2023 71,106 4,382 75,488
DEPRECIATION
At 1 November 2022 37,137 1,636 38,773
Charge for year 8,492 567 9,059
At 31 October 2023 45,629 2,203 47,832
NET BOOK VALUE
At 31 October 2023 25,477 2,179 27,656
At 31 October 2022 33,969 1,794 35,763

TOWNS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05267538)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts owed by group undertakings 325,000 325,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Tax 14,445 29,490
Social security and other taxes 2,968 1,441
VAT 12,088 12,684
Other creditors 1,000 -
Directors' current accounts 94,843 48,235
Accruals and deferred income 158,502 178,543
293,846 280,393

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 8) 19,168 29,168

8. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,168 19,168

9. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 6,368 8,941

Deferred
tax
£   
Balance at 1 November 2022 8,941
Provided during year (2,573 )
Balance at 31 October 2023 6,368

TOWNS CONSTRUCTION LIMITED (REGISTERED NUMBER: 05267538)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
50 Ordinary C £1 50 50
50 Ordinary D £1 50 50
200 200

11. RELATED PARTY DISCLOSURES

At the year-end, the company was owed an amount of £325,000 (2022 - £325,000) by its parent company. This amount is interest free and repayable on demand.

As at the balance sheet date, included in creditors due within one year is £94,843 (2022: £48,235) due and payable to the directors. The amount is interest free and repayable on demand.