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REGISTERED NUMBER: 09673750 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Towns & Crawford Ltd

Towns & Crawford Ltd (Registered number: 09673750)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Towns & Crawford Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs M J Crawford
Ms L K Towns





REGISTERED OFFICE: 48 Main Street
Main Street
Breaston
Derbyshire
DE72 3DX





REGISTERED NUMBER: 09673750 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Towns & Crawford Ltd (Registered number: 09673750)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,038 43,874

CURRENT ASSETS
Debtors 5 57,350 6,844
Cash at bank and in hand 50,444 70,818
107,794 77,662
CREDITORS
Amounts falling due within one year 6 38,861 53,724
NET CURRENT ASSETS 68,933 23,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,971

67,812

CREDITORS
Amounts falling due after more than one
year

7

(56,866

)

(66,717

)

PROVISIONS FOR LIABILITIES (566 ) (742 )
NET ASSETS 48,539 353

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 48,537 351
SHAREHOLDERS' FUNDS 48,539 353

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

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

Towns & Crawford Ltd (Registered number: 09673750)

Balance Sheet - continued
31 March 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 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 24 July 2024 and were signed on its behalf by:




Ms L K Towns - Director



Mrs M J Crawford - Director


Towns & Crawford Ltd (Registered number: 09673750)

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

1. STATUTORY INFORMATION

Towns & Crawford Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Towns & Crawford Ltd (Registered number: 09673750)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 10,886 47,038 740 58,664
Additions 177 - - 177
At 31 March 2024 11,063 47,038 740 58,841
DEPRECIATION
At 1 April 2023 8,286 6,134 370 14,790
Charge for year 694 6,134 185 7,013
At 31 March 2024 8,980 12,268 555 21,803
NET BOOK VALUE
At 31 March 2024 2,083 34,770 185 37,038
At 31 March 2023 2,600 40,904 370 43,874

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 47,038
DEPRECIATION
At 1 April 2023 6,134
Charge for year 6,134
At 31 March 2024 12,268
NET BOOK VALUE
At 31 March 2024 34,770
At 31 March 2023 40,904

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 168 3,374
Other debtors 53,598 179
VAT 313 -
Prepayments 3,271 3,291
57,350 6,844

Towns & Crawford Ltd (Registered number: 09673750)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,555 5,556
Finance leases 4,297 3,406
Trade creditors 5,036 3,956
Tax 15,295 6,112
VAT - 5,169
Directors' current accounts 6,550 27,489
Accrued expenses 2,128 2,036
38,861 53,724

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,556 5,556
Bank loans - 2-5 years 23,612 29,166
Finance leases 27,698 31,995
56,866 66,717

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs M J Crawford
Balance outstanding at start of year (13,454 ) 2,301
Amounts advanced 31,100 27,995
Amounts repaid (20,318 ) (43,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,672 ) (13,454 )

Towns & Crawford Ltd (Registered number: 09673750)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Ms L K Towns
Balance outstanding at start of year (14,035 ) 1,861
Amounts advanced 30,489 27,683
Amounts repaid (20,332 ) (43,579 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,878 ) (14,035 )

Interest was charged on the overdrawn directors' loan accounts at HM Revenue & Customs official rate of interest of 2% per annum up to 5th April 2023 and at 2.25% thereafter.

10. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided to companies with common directors and under common control amounted to £53,345 (2023 £Nil).