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Registration number: 03411161

Capital Tower Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Capital Tower Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Capital Tower Limited

(Registration number: 03411161)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

15,411

Tangible assets

5

10,906

14,278

Investments

6

485,550

415,609

 

496,456

445,298

Current assets

 

Debtors

7

78,700

104,889

Cash at bank and in hand

 

631,429

597,176

 

710,129

702,065

Creditors: Amounts falling due within one year

8

(322,755)

(360,669)

Net current assets

 

387,374

341,396

Total assets less current liabilities

 

883,830

786,694

Provisions for liabilities

(16,444)

(5,150)

Net assets

 

867,386

781,544

Capital and reserves

 

Called up share capital

9

2,000

2,000

Share premium reserve

27,100

27,100

Profit and loss account

838,286

752,444

Shareholders' funds

 

867,386

781,544

 

Capital Tower Limited

(Registration number: 03411161)
Balance Sheet as at 31 July 2024

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 March 2025
 

J L Doney
Director

   
     
 

Capital Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
85 Yarmouth Road
Norwich
Norfolk
NR8 5EU

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern
The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax and is recognised in the profit and loss account.

The current 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 taxable income.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated at cost less any subsequent accumulated depreciation.

 

Capital Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Goodwill

Purchased goodwill is capitalised and amortised on a straight line basis over its useful economic life of 5 years.

Investments

Investments in shares are measured at fair value, with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due.

3

Staff numbers

The average number of persons employed by the company during the year was 9 (2023 - 10).

 

Capital Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 August 2023

443,286

443,286

At 31 July 2024

443,286

443,286

Amortisation

At 1 August 2023

427,875

427,875

Amortisation charge

15,411

15,411

At 31 July 2024

443,286

443,286

Carrying amount

At 31 July 2024

-

-

At 31 July 2023

15,411

15,411

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 August 2023

47,759

47,759

Additions

3,059

3,059

At 31 July 2024

50,818

50,818

Depreciation

At 1 August 2023

33,481

33,481

Charge for the year

6,431

6,431

At 31 July 2024

39,912

39,912

Net book value

At 31 July 2024

10,906

10,906

At 31 July 2023

14,278

14,278

 

Capital Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Investments

2024
£

2023
£

Listed investments

485,550

415,609

485,550

415,609

£

Valuation

At 1 August 2023

415,609

Revaluation

53,878

Additions

133,321

Disposals

(117,258)

At 31 July 2024

485,550

Carrying amount

At 31 July 2024

485,550

At 31 July 2023

415,609

7

Debtors

2024
£

2023
£

Prepayments

78,700

104,889

78,700

104,889

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

104,733

107,419

Taxation and social security

73,357

53,992

Other creditors

49,511

83,697

Other loans

87,705

107,971

Accruals

7,449

7,590

322,755

360,669

 

Capital Tower Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Class A of £1 each

1,200

1,200

1,200

1,200

Class B of £1 each

700

700

700

700

Class C of £1 each

100

100

100

100

 

2,000

2,000

2,000

2,000

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £112,800 (2023 - £141,600).