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REGISTERED NUMBER: 08436427 (England and Wales)















NORTH WEST TOWBARS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






NORTH WEST TOWBARS LIMITED (REGISTERED NUMBER: 08436427)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTH WEST TOWBARS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: N Batchelor





REGISTERED OFFICE: 215 Chestergate
Stockport
SK3 0AN





REGISTERED NUMBER: 08436427 (England and Wales)





ACCOUNTANTS: Clarke Nicklin LLP
Chartered Accountants
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD

NORTH WEST TOWBARS LIMITED (REGISTERED NUMBER: 08436427)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 3,000
Tangible assets 5 2,778 4,117
4,778 7,117

CURRENT ASSETS
Stocks 81,477 86,430
Debtors 6 11,896 93,140
Cash at bank and in hand 71,309 2,467
164,682 182,037
CREDITORS
Amounts falling due within one year 7 55,363 73,761
NET CURRENT ASSETS 109,319 108,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,097

115,393

PROVISIONS FOR LIABILITIES 695 782
NET ASSETS 113,402 114,611

CAPITAL AND RESERVES
Called up share capital 8 75 75
Retained earnings 113,327 114,536
SHAREHOLDERS' FUNDS 113,402 114,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NORTH WEST TOWBARS LIMITED (REGISTERED NUMBER: 08436427)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 August 2024 and were signed by:





N Batchelor - Director


NORTH WEST TOWBARS LIMITED (REGISTERED NUMBER: 08436427)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

North West Towbars 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.

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.

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

Intangible fixed assets
Website development costs are being amortised over its estimated useful life of 5 years.

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
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


NORTH WEST TOWBARS LIMITED (REGISTERED NUMBER: 08436427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 8,675
AMORTISATION
At 1 December 2022 5,675
Charge for year 1,000
At 30 November 2023 6,675
NET BOOK VALUE
At 30 November 2023 2,000
At 30 November 2022 3,000

NORTH WEST TOWBARS LIMITED (REGISTERED NUMBER: 08436427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 1,091 23,262 5,250 13,904 43,507
Additions - 146 - 233 379
Disposals - - (5,250 ) - (5,250 )
At 30 November 2023 1,091 23,408 - 14,137 38,636
DEPRECIATION
At 1 December 2022 1,019 21,573 4,549 12,249 39,390
Charge for year 18 447 - 552 1,017
Eliminated on disposal - - (4,549 ) - (4,549 )
At 30 November 2023 1,037 22,020 - 12,801 35,858
NET BOOK VALUE
At 30 November 2023 54 1,388 - 1,336 2,778
At 30 November 2022 72 1,689 701 1,655 4,117

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,141 12,369
Directors' current accounts - 76,411
Prepayments and accrued income 3,755 4,360
11,896 93,140

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 20,867
Trade creditors 23,078 21,664
Corporation tax 16,731 17,237
Social security and other taxes 540 724
VAT 11,474 9,965
Other creditors 293 752
Directors' current accounts 527 -
Accruals and deferred income 2,720 2,552
55,363 73,761

NORTH WEST TOWBARS LIMITED (REGISTERED NUMBER: 08436427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
75 Share capital 1 £1 75 75

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
N Batchelor
Balance outstanding at start of year 76,411 -
Amounts advanced 6,212 76,411
Amounts repaid (84,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,377 ) 76,411

During the period, the company paid rent totalling £36,000 (2022: £36,000) to Mr N Batchelor.

10. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, the ultimate controlling party is Mr N Batchelor and Mrs D Batchelor holding 100% of the shares.