Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsetruefalse2023-04-01falseNo description of principal activity1214The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03658142 2023-04-01 2024-03-31 03658142 2022-04-01 2023-03-31 03658142 2024-03-31 03658142 2023-03-31 03658142 c:Director1 2023-04-01 2024-03-31 03658142 c:Director2 2023-04-01 2024-03-31 03658142 c:RegisteredOffice 2023-04-01 2024-03-31 03658142 d:Buildings 2023-04-01 2024-03-31 03658142 d:Buildings 2024-03-31 03658142 d:Buildings 2023-03-31 03658142 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03658142 d:PlantMachinery 2023-04-01 2024-03-31 03658142 d:PlantMachinery 2024-03-31 03658142 d:PlantMachinery 2023-03-31 03658142 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03658142 d:FurnitureFittings 2023-04-01 2024-03-31 03658142 d:FurnitureFittings 2024-03-31 03658142 d:FurnitureFittings 2023-03-31 03658142 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03658142 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03658142 d:CurrentFinancialInstruments 2024-03-31 03658142 d:CurrentFinancialInstruments 2023-03-31 03658142 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03658142 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03658142 d:ShareCapital 2024-03-31 03658142 d:ShareCapital 2023-03-31 03658142 d:RetainedEarningsAccumulatedLosses 2024-03-31 03658142 d:RetainedEarningsAccumulatedLosses 2023-03-31 03658142 c:FRS102 2023-04-01 2024-03-31 03658142 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03658142 c:FullAccounts 2023-04-01 2024-03-31 03658142 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03658142 d:WithinOneYear 2024-03-31 03658142 d:WithinOneYear 2023-03-31 03658142 d:BetweenOneFiveYears 2024-03-31 03658142 d:BetweenOneFiveYears 2023-03-31 03658142 d:MoreThanFiveYears 2024-03-31 03658142 d:MoreThanFiveYears 2023-03-31 03658142 2 2023-04-01 2024-03-31 03658142 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 03658142







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


TOWER SERVICES (SEATON) LTD



































                       img38c8.png 

 


TOWER SERVICES (SEATON) LTD
 


 
COMPANY INFORMATION


Directors
D M Panormo 
L C Panormo 




Registered number
03658142



Registered office
3 Crescent Court
Western Road

Billericay

Essex

CM12 9AQ




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


TOWER SERVICES (SEATON) LTD
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 


TOWER SERVICES (SEATON) LTD
REGISTERED NUMBER:03658142



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
55,194

  
-
55,194

Current assets
  

Stocks
 5 
-
136,420

Debtors: amounts falling due within one year
 6 
54,996
349,170

Cash at bank and in hand
  
-
470,896

  
54,996
956,486

Creditors: amounts falling due within one year
 7 
(54,896)
(719,756)

Net current assets
  
 
 
100
 
 
236,730

Total assets less current liabilities
  
100
291,924

Provisions for liabilities
  

Deferred tax
  
-
(12,318)

  
 
 
-
 
 
(12,318)

Net assets
  
100
279,606

Page 1

 


TOWER SERVICES (SEATON) LTD
REGISTERED NUMBER:03658142


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
  
100
100

Profit and loss account
  
-
279,506

  
100
279,606


The directors consider that the Company is entitled to exemption from audit under section 479A of the Companies Act 2006.

The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D M Panormo
Director

Date: 17 December 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


TOWER SERVICES (SEATON) LTD
 


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

1.


General information

Tower Services (Seaton) 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 Infomation page. 
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

On 28 March 2024, the trade and assets were transferred to Plaistow Broadway Filling Stations Limited, its parent company. 
The financial statements have therefore been prepared on a basis other than that of the going concern basis.

 
2.3

Revenue

Revenue from the sale of fuel, accessories and confectionary is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in the profit or loss account using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 


TOWER SERVICES (SEATON) LTD
 


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

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
10%
straight line
Fixtures and fittings
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.


 
Page 4

 


TOWER SERVICES (SEATON) LTD
 


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

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price. Cost is based on the cost of purchase on a weighted average basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 14).

Page 5

 


TOWER SERVICES (SEATON) LTD
 


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

4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£





At 1 April 2023
1,711
5,039
127,069
133,819


Additions
38,058
11,441
9,497
58,996


Disposals
(39,769)
(16,480)
(136,566)
(192,815)



At 31 March 2024

-
-
-
-





At 1 April 2023
-
-
78,625
78,625


Charge for the year on owned assets
5,965
2,472
8,774
17,211


Disposals
(5,965)
(2,472)
(87,399)
(95,836)



At 31 March 2024

-
-
-
-



Net book value



At 31 March 2024
-
-
-
-



At 31 March 2023
1,711
5,039
48,444
55,194


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
-
136,420

-
136,420



6.


Debtors

2024
2023
£
£


Trade debtors
-
110,778

Amounts owed by group undertakings
54,996
226,611

Other debtors
-
6,486

Prepayments and accrued income
-
5,295

54,996
349,170


Page 6

 


TOWER SERVICES (SEATON) LTD
 


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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
-
458

Trade creditors
-
594,871

Corporation tax
54,896
66,568

Other taxation and social security
-
42,269

Other creditors
-
2,623

Accruals and deferred income
-
12,967

54,896
719,756





8.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
-
120,000

Later than 1 year and not later than 5 years
-
480,000

Later than 5 years
-
1,290,000

-
1,890,000


9.


Controlling party

The parent Company is Plaistow Broadway Filling Stations Limited, a Company registered in England. 
The results of Tower Services (Seaton) Limited, are consolidated into the group accounts of Plaistow Broadway Filling Stations Limited, which is the smallest and largest group for which consolidated financial statements are drawn up for. The consolidated financial statements of this group may be obtained from the registered office which is Suite 3 Crescent Court, Western Road, Billericay, Essex, CM14 9AQ. 
There is no ultimate controlling party.

 
Page 7