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Logo On Report
Registered Number: 10554590
England and Wales

 

 

 

TOWNBRIDGE HOMES LTD.


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Townbridge Homes Ltd. for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Townbridge Homes Ltd. for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the 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 Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of Townbridge Homes Ltd. , as a body, in accordance with the terms of our engagement letter dated 07 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of Townbridge Homes Ltd. and state those matters that we have agreed to state to the Board of Directors of Townbridge Homes Ltd., as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Townbridge Homes Ltd. and its Board of Directors as a body for our work or for this report
It is your duty to ensure that Townbridge Homes Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Townbridge Homes Ltd.. You consider that Townbridge Homes Ltd. 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 accounts of Townbridge Homes Ltd.. 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 accounts.



....................................................
Rivington Accounts Ltd
Bank House
6-8 Church Street
Adlington
Lancashire
PR7 4EX
07 October 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,746,865    2,619,876 
2,746,865    2,619,876 
Current assets      
Debtors 441    535 
Cash at bank and in hand 69,278    162,591 
69,719    163,126 
Creditors: amount falling due within one year (14,265)   (10,123)
Net current assets 55,454    153,003 
 
Total assets less current liabilities 2,802,319    2,772,879 
Creditors: amount falling due after more than one year (2,277,421)   (2,394,356)
Provisions for liabilities (608)   (115)
Net assets 524,290    378,408 
 

Capital and reserves
     
Called up share capital 4 3    3 
Reserves 5 383,079    258,415 
Profit and loss account 141,208    119,990 
Shareholders' funds 524,290    378,408 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 07 October 2024 and were signed by:


-------------------------------
Daniel Bleasdale
Director
2
General Information
Townbridge Homes Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10554590, registration address 7 Dark Lane, Whittle-Le-Woods, Chorley, Lancashire, PR6 8AE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Investment properties   Total
  £   £   £
At 01 February 2023 1,078    2,619,000    2,620,078 
Additions 3,392      3,392 
Disposals    
Revaluations   124,664    124,664 
At 31 January 2024 4,470    2,743,664    2,748,134 
Depreciation
At 01 February 2023 202      202 
Charge for year 1,067      1,067 
On disposals    
At 31 January 2024 1,269      1,269 
Net book values
Closing balance as at 31 January 2024 3,201    2,743,664    2,746,865 
Opening balance as at 01 February 2023 876    2,619,000    2,619,876 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
300 Class A shares of £0.01 each  
 

3