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REGISTERED NUMBER: 01162845 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

TOWNSCAPE PRODUCTS LIMITED

TOWNSCAPE PRODUCTS LIMITED (REGISTERED NUMBER: 01162845)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TOWNSCAPE PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







Directors: Mrs Y Gay
Mr G Davies





Secretary: Mr G Davies





Registered office: Fulwood Road South
Sutton In Ashfield
Nottinghamshire
NG17 2JZ





Registered number: 01162845 (England and Wales)





Auditors: Haines Watts
Chartered Accountants & Statutory Auditor
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

TOWNSCAPE PRODUCTS LIMITED (REGISTERED NUMBER: 01162845)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 493,006 515,911
Investments 5 201 201
Investment property 6 330,567 298,220
823,774 814,332

Current assets
Stocks 7 330,967 310,086
Debtors 8 436,157 247,367
Cash at bank 288,570 209,041
1,055,694 766,494
Creditors
Amounts falling due within one year 9 (527,840 ) (370,767 )
Net current assets 527,854 395,727
Total assets less current liabilities 1,351,628 1,210,059

Creditors
Amounts falling due after more than one
year

10

(12,231

)

(22,435

)
Net assets 1,339,397 1,187,624

Capital and reserves
Called up share capital 12 200,000 200,000
Retained earnings 1,139,397 987,624
Shareholders' funds 1,339,397 1,187,624

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 24 October 2024 and were signed on its behalf by:





Mr G Davies - Director


TOWNSCAPE PRODUCTS LIMITED (REGISTERED NUMBER: 01162845)

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

1. STATUTORY INFORMATION

Townscape Products Limited is a private company, limited by shares, incorporated and 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 as modified by the revaluation of certain assets.

The financial statements are presented in pounds sterling (£) which is the functional currency of the company.


Going concern
The company meets its day to day working capital requirements through its current cash resources and banking facilities. The current economic conditions create uncertainty particularly over the timing and level of demand for the company's products. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facility and cash resource. The directors have reviewed the forecasts, which have been prepared to December 2025, and have concluded that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly they have prepared the financial statements on a going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


Stock
The company's products are subject to changing technological and regulatory trends. As a result it is necessary to consider the recoverability of the cost of stocks and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised on the despatch of goods, the issue of or vesting certificates.

Tangible fixed assets
Fixed assets are recorded at cost less any accumulated depreciation and accumulated impairment. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.

Land and buildings-2% on cost
Plant and machinery etc-25% on cost and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TOWNSCAPE PRODUCTS LIMITED (REGISTERED NUMBER: 01162845)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are measured 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. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Cost is determined on a first-in, first-out (FIFO) method.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences as residual interest in the assets of the company after deducting all of its liabilities.

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.

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.

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 19 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
Cost
At 1 April 2023 900,082 2,219,862 3,119,944
Additions - 34,559 34,559
At 31 March 2024 900,082 2,254,421 3,154,503
Depreciation
At 1 April 2023 446,439 2,157,594 2,604,033
Charge for year 18,683 38,781 57,464
At 31 March 2024 465,122 2,196,375 2,661,497
Net book value
At 31 March 2024 434,960 58,046 493,006
At 31 March 2023 453,643 62,268 515,911

TOWNSCAPE PRODUCTS LIMITED (REGISTERED NUMBER: 01162845)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
Cost
At 1 April 2023
and 31 March 2024 201
Net book value
At 31 March 2024 201
At 31 March 2023 201

6. INVESTMENT PROPERTY
Total
£
Fair value
At 1 April 2023 298,220
Revaluations 32,347
At 31 March 2024 330,567
Net book value
At 31 March 2024 330,567
At 31 March 2023 298,220

The investment property was revalued by the directors at the balance sheet date at open market value, based on the last valuation carried out by Mather Jamie on 31 January 2024.

7. STOCKS
2024 2023
£ £
Stocks 330,967 310,086

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 416,965 235,076
Corporation tax receivable - 4,878
Prepayments 19,192 7,413
436,157 247,367

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,204 9,952
Trade creditors 240,990 186,714
Inter company creditors 12,234 12,234
Social security and other taxes 82,268 45,970
Accruals and deferred income 182,144 115,897
527,840 370,767

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans - 2-5 years 12,231 22,435

TOWNSCAPE PRODUCTS LIMITED (REGISTERED NUMBER: 01162845)

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

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 49,974 55,197
Between one and five years 94,393 50,524
144,367 105,721

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
200,000 Ordinary £1 200,000 200,000

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Liptrott (Senior Statutory Auditor)
for and on behalf of Haines Watts

14. PENSION COMMITMENTS

The company made pension contributions totalling £13,729 (2023: £9,854).