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REGISTERED NUMBER: 10785498 (England and Wales)












R F TOWERS LTD

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






R F TOWERS LTD (REGISTERED NUMBER: 10785498)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


R F TOWERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







Directors: Mrs S M Towers
Mr R F Towers
Mr R C Towers





Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD





Business address: Curwen Hill Farm
Wray
LANCASTER
LA2 8JL





Registered number: 10785498 (England and Wales)





Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

R F TOWERS LTD (REGISTERED NUMBER: 10785498)

ABRIDGED BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 9,748 9,748
Tangible assets 5 4,142,823 878,329
4,152,571 888,077

Current assets
Stocks 2,690,168 2,523,129
Debtors 444,676 648,104
3,134,844 3,171,233
Creditors
Amounts falling due within one year 1,687,290 1,726,410
Net current assets 1,447,554 1,444,823
Total assets less current liabilities 5,600,125 2,332,900

Creditors
Amounts falling due after more than one
year

6

(4,341,899

)

(1,127,405

)

Provisions for liabilities (175,568 ) (161,303 )

Accruals and deferred income (10,645 ) (4,752 )
Net assets 1,072,013 1,039,440

Capital and reserves
Called up share capital 100 100
Retained earnings 1,071,913 1,039,340
1,072,013 1,039,440

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

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

R F TOWERS LTD (REGISTERED NUMBER: 10785498)

ABRIDGED BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 October 2024 and were signed on its behalf by:





Mr R F Towers - Director


R F TOWERS LTD (REGISTERED NUMBER: 10785498)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. Statutory information

R F Towers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 and represents amounts receivable, for goods provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good to the customer.

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.

Subsidy entitlements are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, 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.


R F TOWERS LTD (REGISTERED NUMBER: 10785498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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.

3. Employees and directors

The average number of employees during the year was 5 (2023 - 3 ) .

4. Intangible fixed assets
Totals
£   
Cost
At 1 June 2023
and 31 May 2024 9,748
Net book value

At 31 May 2024 9,748
At 31 May 2023 9,748

R F TOWERS LTD (REGISTERED NUMBER: 10785498)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. Tangible fixed assets
Totals
£   
Cost
At 1 June 2023 1,380,441
Additions 3,461,634
Disposals (47,310 )
At 31 May 2024 4,794,765
Depreciation
At 1 June 2023 502,112
Charge for year 165,466
Eliminated on disposal (15,636 )
At 31 May 2024 651,942
Net book value
At 31 May 2024 4,142,823
At 31 May 2023 878,329

6. Creditors: amounts falling due after more than five years
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 3,677,065 435,405

7. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 945,957 1,121,629
Bank loans 4,148,420 675,405
5,094,377 1,797,034

HSBC Bank PLC holds a fixed and floating charge over all assets of the company.