TOWERGOLD LIMITED

Company Registration Number:
02007498 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2024

Period of accounts

Start date: 01 September 2023

End date: 31 August 2024

TOWERGOLD LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2024

Balance sheet
Notes

TOWERGOLD LIMITED

Balance sheet

As at 31 August 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 333,567 304,605
Total fixed assets: 333,567 304,605
Current assets
Stocks: 171,215 194,696
Debtors:   34,078 17,684
Cash at bank and in hand: 569,449 694,647
Investments: 4 119,055 98,666
Total current assets: 893,797 1,005,693
Creditors: amounts falling due within one year:   (43,454) (65,053)
Net current assets (liabilities): 850,343 940,640
Total assets less current liabilities: 1,183,910 1,245,245
Total net assets (liabilities): 1,183,910 1,245,245
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,183,810 1,245,145
Shareholders funds: 1,183,910 1,245,245

The notes form part of these financial statements

TOWERGOLD LIMITED

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 05 February 2025
and signed on behalf of the board by:

Name: Constantinos Christodoulides
Status: Director

The notes form part of these financial statements

TOWERGOLD LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less depreciation and impairment. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Land and Buildings: No depreciation; Plant and Machinery: 25% straight line method; Fixtures, Fittings and Equipment: 10-25% straight line method; Motor Vehicles: 25 % straight line method.

Valuation and information policy

Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress, cost includes a relevant proportion of overheads according to the stage of completion.

TOWERGOLD LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

2. Employees

2024 2023
Average number of employees during the period 5 5

TOWERGOLD LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible Assets

Total
Cost £
At 01 September 2023 346,320
Additions 35,410
Disposals (4,300)
At 31 August 2024 377,430
Depreciation
At 01 September 2023 41,715
Charge for year 5,715
On disposals (3,567)
At 31 August 2024 43,863
Net book value
At 31 August 2024 333,567
At 31 August 2023 304,605

TOWERGOLD LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Current investments

Investments in shares are included at fair value, with changes recognised in profit or loss.