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REGISTERED NUMBER: 04511526 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Tower Estates (Scarborough) Limited

Tower Estates (Scarborough) Limited (Registered number: 04511526)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tower Estates (Scarborough) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr M Hunter
Mrs C Hunter





REGISTERED OFFICE: 60 Falsgrave Road
Scarborough
North Yorkshire
YO12 5AX





REGISTERED NUMBER: 04511526 (England and Wales)





ACCOUNTANTS: Walker & Co
Chartered Accountants
Belgrave House
15 Belgrave Crescent
Scarborough
North Yorkshire
YO11 1UB

Tower Estates (Scarborough) Limited (Registered number: 04511526)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 7,000
Tangible assets 5 3,097 3,930
9,097 10,930

CURRENT ASSETS
Debtors 6 72,573 72,841
Cash at bank and in hand 130,654 107,406
203,227 180,247
CREDITORS
Amounts falling due within one year 7 60,234 56,859
NET CURRENT ASSETS 142,993 123,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,090

134,318

CREDITORS
Amounts falling due after more than one
year

8

(21,288

)

(30,411

)

PROVISIONS FOR LIABILITIES (588 ) (1,034 )
NET ASSETS 130,214 102,873

CAPITAL AND RESERVES
Called up share capital 105 103
Retained earnings 130,109 102,770
SHAREHOLDERS' FUNDS 130,214 102,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Tower Estates (Scarborough) Limited (Registered number: 04511526)

Balance Sheet - continued
31 January 2024


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 30 August 2024 and were signed on its behalf by:




Mrs C Hunter - Director



Mr M Hunter - Director


Tower Estates (Scarborough) Limited (Registered number: 04511526)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Tower Estates (Scarborough) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost and 15% 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.


Tower Estates (Scarborough) Limited (Registered number: 04511526)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 40,000
AMORTISATION
At 1 February 2023 33,000
Charge for year 1,000
At 31 January 2024 34,000
NET BOOK VALUE
At 31 January 2024 6,000
At 31 January 2023 7,000

Tower Estates (Scarborough) Limited (Registered number: 04511526)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 40,826
Additions 665
At 31 January 2024 41,491
DEPRECIATION
At 1 February 2023 36,896
Charge for year 1,498
At 31 January 2024 38,394
NET BOOK VALUE
At 31 January 2024 3,097
At 31 January 2023 3,930

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 72,573 72,841

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 3,075 2,803
Taxation and social security 27,524 32,117
Other creditors 29,635 21,939
60,234 56,859

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 21,288 30,411