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REGISTERED NUMBER: 04350152 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Tower Leisure (Cornwall) Limited

Tower Leisure (Cornwall) Limited (Registered number: 04350152)






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 Leisure (Cornwall) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: C J Whitford
Mrs J A Whitford





SECRETARY: Mrs J A Whitford





REGISTERED OFFICE: Granary end
Biscovey Road
Par
Cornwall
PL24 2HW





REGISTERED NUMBER: 04350152 (England and Wales)





ACCOUNTANTS: Sovereign Accounting Solutions
Chartered Accountants and Business Advisers
Unit 9
Moorland Road Industrial Park
Moorland Road, Indian Queens
St Columb
Cornwall
TR9 6FB

Tower Leisure (Cornwall) Limited (Registered number: 04350152)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 191 253
Investment property 5 221,231 221,231
221,422 221,484

CURRENT ASSETS
Debtors 6 30,683 28,373
Cash at bank 34,993 34,020
65,676 62,393
CREDITORS
Amounts falling due within one year 7 11,316 14,787
NET CURRENT ASSETS 54,360 47,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

275,782

269,090

CREDITORS
Amounts falling due after more than one
year

8

(51,395

)

(55,628

)

PROVISIONS FOR LIABILITIES (36 ) (48 )
NET ASSETS 224,351 213,414

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 10 116,999 116,999
Retained earnings 107,351 96,414
SHAREHOLDERS' FUNDS 224,351 213,414

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 Leisure (Cornwall) Limited (Registered number: 04350152)

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 October 2024 and were signed on its behalf by:





C J Whitford - Director


Tower Leisure (Cornwall) Limited (Registered number: 04350152)

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

1. STATUTORY INFORMATION

Tower Leisure (Cornwall) 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Due to the Directors' policy of maintaining the company's freehold property to a very high standard, it has been decided that no depreciation will be charged each year. The Directors are of the opinion that the freehold property has not suffered any form of diminution in value since it's acquisition date.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Tower Leisure (Cornwall) Limited (Registered number: 04350152)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 6,727
DEPRECIATION
At 1 February 2023 6,474
Charge for year 62
At 31 January 2024 6,536
NET BOOK VALUE
At 31 January 2024 191
At 31 January 2023 253

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 221,231
NET BOOK VALUE
At 31 January 2024 221,231
At 31 January 2023 221,231

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2015 116,999
Valuation in 2024 104,232
221,231

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 30,683 28,373

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 4,709 5,187
Taxation and social security 5,148 5,501
Other creditors 1,459 4,099
11,316 14,787

Tower Leisure (Cornwall) Limited (Registered number: 04350152)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 51,395 55,628

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due more than 5
years 32,469 34,881
32,469 34,881

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 56,104 60,815

10. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 116,999