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REGISTERED NUMBER: 11059793 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

35 TOWER ROAD LIMITED

35 TOWER ROAD LIMITED (REGISTERED NUMBER: 11059793)






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

Chartered Accountants' Report 7

35 TOWER ROAD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: C E V Packe
A P R Wilson





REGISTERED OFFICE: 62 Dartmouth Road
London
NW2 4HA





REGISTERED NUMBER: 11059793 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

35 TOWER ROAD LIMITED (REGISTERED NUMBER: 11059793)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,595,000 2,175,000

CURRENT ASSETS
Debtors 5 10,250 -
Cash at bank 20,687 10,281
30,937 10,281
CREDITORS
Amounts falling due within one year 6 383,408 689,748
NET CURRENT LIABILITIES (352,471 ) (679,467 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,242,529

1,495,533

CREDITORS
Amounts falling due after more than one
year

7

(1,113,080

)

(717,375

)

PROVISIONS FOR LIABILITIES (287,442 ) (197,150 )
NET ASSETS 842,007 581,008

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 842,005 581,006
SHAREHOLDERS' FUNDS 842,007 581,008

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 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.

35 TOWER ROAD LIMITED (REGISTERED NUMBER: 11059793)

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 Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




C E V Packe - Director



A P R Wilson - Director


35 TOWER ROAD LIMITED (REGISTERED NUMBER: 11059793)

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

1. STATUTORY INFORMATION

35 Tower Road 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 as modified by the revaluation of certain assets.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover represents rents receivable excluding value added tax and is recognised as as rents become due.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 2,175,000
Revaluations 420,000
At 30 November 2023 2,595,000
NET BOOK VALUE
At 30 November 2023 2,595,000
At 30 November 2022 2,175,000

35 TOWER ROAD LIMITED (REGISTERED NUMBER: 11059793)

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

4. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2018 193,498
Valuation in 2019 (74,715 )
Valuation in 2020 (29,465 )
Valuation in 2021 276,971
Valuation in 2022 398,945
Valuation in 2023 420,000
Cost 1,409,766
2,595,000

If investment property had not been revalued it would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 1,409,766 1,409,766

Investment property was valued on an open market basis on 30 November 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 10,250 -

Other debtors represents an amount owed by Tower Road (Silchester Mews) Limited [14930481], a wholly owned subsidiary company.
No interest is charged and this amount is repayable upon demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Tax - 9,505
Other creditors - 60,589
Directors' current accounts 381,998 618,404
Accrued expenses 1,410 1,250
383,408 689,748

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans more 5 yrs non-inst 1,113,080 717,375

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,113,080 717,375

35 TOWER ROAD LIMITED (REGISTERED NUMBER: 11059793)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 1,113,080 717,375

The bank loans are secured against the investment properties and other assets held by the company as well as personal guarantees by the directors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
2 Ordinary £1 2 2

10. RELATED PARTY DISCLOSURES

A directors current account exists, as at the balance sheet date the directors C Packe and A Wilson were owed £192,232 and £189,766 (2022: £310,280 and £308,123) respectively.
No interest is charged on these amounts and they are repayable upon demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
35 TOWER ROAD LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 35 Tower Road Limited for the year ended 30 November 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of 35 Tower Road Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 35 Tower Road Limited and state those matters that we have agreed to state to the Board of Directors of 35 Tower Road Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 35 Tower Road Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that 35 Tower Road Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 35 Tower Road Limited. You consider that 35 Tower Road Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 35 Tower Road Limited. 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 statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


29 August 2024