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Registered number: 08140105
Towerness Consulting Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08140105
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,467 17,158
9,467 17,158
CURRENT ASSETS
Debtors 6 703 1,108
Cash at bank and in hand 9,402 22,963
10,105 24,071
Creditors: Amounts Falling Due Within One Year 7 (57,790 ) (63,091 )
NET CURRENT ASSETS (LIABILITIES) (47,685 ) (39,020 )
TOTAL ASSETS LESS CURRENT LIABILITIES (38,218 ) (21,862 )
NET LIABILITIES (38,218 ) (21,862 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account (39,218 ) (22,862 )
SHAREHOLDERS' FUNDS (38,218) (21,862)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Federico Cussigh
Director
05/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Towerness Consulting Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08140105 . The registered office is 19 The Circle, Queen Elizabeth Street, London, SE1 2JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Software Costs - 10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Equipment 25% straight line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 76,907
As at 31 December 2023 76,907
Amortisation
As at 1 January 2023 59,749
Provided during the period 7,691
As at 31 December 2023 67,440
Net Book Value
As at 31 December 2023 9,467
As at 1 January 2023 17,158
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5. Tangible Assets
Office Equipment
£
Cost
As at 1 January 2023 422
As at 31 December 2023 422
Depreciation
As at 1 January 2023 422
As at 31 December 2023 422
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 179
Prepayments and accrued income 433 483
Other debtors - VAT 270 446
703 1,108
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,668 96
Bank loans and overdrafts 52,951 56,477
Director's loan account 3,171 6,518
57,790 63,091
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Federico Cussigh 6,518 - - - 6,518
The above loan is unsecured, interest free and repayable on demand.
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10. Ultimate Controlling Party
The company's ultimate controlling party is Ms Sara Grigoletto by virtue of his ownership of 75% or more of the issued share capital in the company.
Page 5