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REGISTERED NUMBER: 02997375 (England and Wales)


















TOWER COLLIERY LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2022 TO 28 JUNE 2023






TOWER COLLIERY LIMITED (REGISTERED NUMBER: 02997375)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 28 JUNE 2023










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


TOWER COLLIERY LIMITED (REGISTERED NUMBER: 02997375)

BALANCE SHEET
28 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,181 118,181
Investments 5 7,422 7,422
124,603 125,603

CURRENT ASSETS
Debtors 6 78,816 60,031
Investments 7 100,873 100,873
Cash at bank 445,181 451,778
624,870 612,682
CREDITORS
Amounts falling due within one year 8 806,794 790,071
NET CURRENT LIABILITIES (181,924 ) (177,389 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(57,321

)

(51,786

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (57,322 ) (51,787 )
SHAREHOLDERS' FUNDS (57,321 ) (51,786 )

TOWER COLLIERY LIMITED (REGISTERED NUMBER: 02997375)

BALANCE SHEET - continued
28 JUNE 2023


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 27 January 2025 and were signed on its behalf by:





W Thomas - Director


TOWER COLLIERY LIMITED (REGISTERED NUMBER: 02997375)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 28 JUNE 2023


1. STATUTORY INFORMATION

Tower Colliery Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office and principal place of business address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services, and management fees excluding value added tax.

Revenue recognition
Revenue from the rental of land is recognised in the period to which it relates.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation net of depreciation and any provision for impairment.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or if held under finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 20% reducing balance
Motor vehicles - 25% reducing balance

No depreciation is provided on land.

Revaluation of land and buildings
Individual land and buildings are held at valuation, with the surplus or deficit in book value being transferred to the revaluation reserve, except that a deficit which is in excess of any previously recognised surplus or reversal of a deficit, over depreciated cost relating to the same property, is charged (credited) to the income statement.

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

TOWER COLLIERY LIMITED (REGISTERED NUMBER: 02997375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 28 JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets
Basic financial assets, which include trade debtors, other debtors and cash and bank balances, are initially measured at transaction price, including transaction costs. They are subsequently carried at amortised cost using the effective interest rate method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the period 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
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 period 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.

Going concern
In preparing the financial statements, the directors have considered the current financial position of the company and likely future cashflows.

The company has both net current liabilities and net liabilities at the balance sheet date. However the company has a cash balance of £445,181 at the balance sheet date.

After making enquiries, the directors are confident that the company is well placed to manage its business risks successfully, despite the uncertain economic outlook.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 4 ) .

TOWER COLLIERY LIMITED (REGISTERED NUMBER: 02997375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 28 JUNE 2023


4. TANGIBLE FIXED ASSETS
Land and Plant and
buildings machinery Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 132,038 20,000 152,038
Impairments - (20,000 ) (20,000 )
At 28 June 2023 132,038 - 132,038
DEPRECIATION
At 1 July 2022 14,857 19,000 33,857
Impairments - (19,000 ) (19,000 )
At 28 June 2023 14,857 - 14,857
NET BOOK VALUE
At 28 June 2023 117,181 - 117,181
At 30 June 2022 117,181 1,000 118,181

The directors are of the opinion that the carrying value of the land and buildings is not materially different from the fair value at the balance sheet date.


5. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1 July 2022
and 28 June 2023 7,307 115 7,422
NET BOOK VALUE
At 28 June 2023 7,307 115 7,422
At 30 June 2022 7,307 115 7,422

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 46,073 -
Other debtors - 6,500
VAT 32,743 26,245
Prepayments and accrued income - 27,286
78,816 60,031

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Cash held on deposit 100,873 100,873

TOWER COLLIERY LIMITED (REGISTERED NUMBER: 02997375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 28 JUNE 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,173 -
Amounts owed to parent company 774,786 774,786
Social security and other taxes 4,029 -
Other creditors 9,806 3,000
Accruals and deferred income 14,000 12,285
806,794 790,071

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

The Report of the Auditors was unqualified.

Brian Garland BA ACA (Senior Statutory Auditor)
for and on behalf of MHA


MHA is the trading name of MacIntyre Hudson LLP, a limited liability
partnership in England and Wales (registered number OC312313)