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REGISTERED NUMBER: 04887058 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Townsend Supplies Limited

Townsend Supplies Limited (Registered number: 04887058)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Townsend Supplies Limited (Registered number: 04887058)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 150,000 175,000
Tangible assets 5 46,282 63,914
196,282 238,914

CURRENT ASSETS
Stocks 239,700 235,000
Debtors 6 269,073 322,829
Cash at bank and in hand 1,170,373 1,094,391
1,679,146 1,652,220
CREDITORS
Amounts falling due within one year 7 930,478 859,287
NET CURRENT ASSETS 748,668 792,933
TOTAL ASSETS LESS CURRENT LIABILITIES 944,950 1,031,847

PROVISIONS FOR LIABILITIES 11,570 11,631
NET ASSETS 933,380 1,020,216

CAPITAL AND RESERVES
Called up share capital 126 126
Share premium 250,000 250,000
Retained earnings 683,254 770,090
SHAREHOLDERS' FUNDS 933,380 1,020,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:



Mr R G M Evans - Director


Townsend Supplies Limited (Registered number: 04887058)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Townsend Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04887058

Registered office: 105 Vale Street
Denbigh
Denbighshire
LL16 3AW

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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

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.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, 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 Profit and Loss Account, 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.

Townsend Supplies Limited (Registered number: 04887058)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 500,000
AMORTISATION
At 1 January 2023 325,000
Amortisation for year 25,000
At 31 December 2023 350,000
NET BOOK VALUE
At 31 December 2023 150,000
At 31 December 2022 175,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 67,288 416,556 12,424 496,268
Additions - - 167 167
At 31 December 2023 67,288 416,556 12,591 496,435
DEPRECIATION
At 1 January 2023 60,008 363,203 9,143 432,354
Charge for year 1,820 13,338 2,641 17,799
At 31 December 2023 61,828 376,541 11,784 450,153
NET BOOK VALUE
At 31 December 2023 5,460 40,015 807 46,282
At 31 December 2022 7,280 53,353 3,281 63,914

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 242,808 301,817
Other debtors 26,265 21,012
269,073 322,829

Townsend Supplies Limited (Registered number: 04887058)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 19,564
Trade creditors 257,877 193,174
Taxation and social security 42,802 74,516
Other creditors 629,799 572,033
930,478 859,287