2023-07-01 NI631844 2024-06-30 NI631844 2023-07-01 2024-06-30 NI631844 2023-06-30 NI631844 2022-07-01 2023-06-30 NI631844 uk-core:WithinOneYear 2023-06-30 NI631844 uk-core:WithinOneYear 2024-06-30 NI631844 uk-core:ShareCapital 2024-06-30 NI631844 uk-core:ShareCapital 2023-06-30 NI631844 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI631844 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI631844 uk-bus:Director1 2023-07-01 2024-06-30 NI631844 uk-core:PlantMachinery 2023-07-01 2024-06-30 NI631844 uk-core:OfficeEquipment 2023-07-01 2024-06-30 NI631844 uk-core:Vehicles 2023-07-01 2024-06-30 NI631844 uk-core:FurnitureFittings 2023-07-01 2024-06-30 NI631844 uk-core:OfficeEquipment 2023-06-30 NI631844 uk-core:FurnitureFittings 2023-06-30 NI631844 uk-core:Vehicles 2023-06-30 NI631844 uk-core:PlantMachinery 2023-06-30 NI631844 uk-core:Vehicles 2024-06-30 NI631844 uk-core:FurnitureFittings 2024-06-30 NI631844 uk-core:OfficeEquipment 2024-06-30 NI631844 uk-core:PlantMachinery 2024-06-30 NI631844 uk-core:WithinOneYear 2024-06-30 NI631844 uk-core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure NI631844 uk-bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 NI631844 uk-bus:FRS102 2023-07-01 2024-06-30 NI631844 uk-bus:FilletedAccounts 2023-07-01 2024-06-30 NI631844 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30
Tow Brothers Ltd
Registered Number:NI631844
For the year ended 30 June 2024
Northern Ireland
Unaudited Financial Statements
2
For the year ended 30 June 2024
Tow Brothers Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
NI631844
As at 30 June 2024
Tow Brothers Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
1,888
6,528
2
1,888
6,528
Current assets
Trade and other receivables
1,896
21,000
3
10
Cash and cash equivalents
43
21,043
1,906
Trade and other payables: amounts falling due within one
year
(4,448)
(22,463)
4
(2,542)
(1,420)
Net current liabilities
Total assets less current liabilities
468
3,986
468
Net assets
3,986
Capital and reserves
Called up share capital
12
12
Retained earnings
456
3,974
468
3,986
Shareholders' funds
For the year ended 30 June 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Dean Douglas Director
These financial statements were approved and authorised for issue by the Board on 27 March 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 June 2024
Tow Brothers Ltd
Notes to the Financial Statements
Statutory Information
Tow Brothers Ltd is a private limited company, limited by shares, domiciled in Northern Ireland, registration number
NI631844.
Registered address:
29 Harcourts Hill
Ballyworkan
Portadown
Armagh
BT62 3RE
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 20% Reducing baalnce for plant & machinery, fixture & fittings, motor vehicles and computer equipment
Plant and Machinery
20% Reducing balance
20% Reducing balance
Computer Equipment
20% Reducing balance
Motor Vehicles
20% Reducing balance
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 30 June 2024
Tow Brothers Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Motor
Vehicles
Plant and
Machinery
£
£
£
£
£
Cost or
valuation
At 01 July 2023
31,961
365
8,463
18,586
4,547
-
-
(18,586)
(4,547)
Disposals
(23,133)
At 30 June 2024
-
8,463
365
8,828
-
Provision for depreciation and impairment
At 01 July 2023
25,433
303
6,165
15,468
3,497
Charge for year
472
12
460
-
-
(18,965)
-
-
(15,468)
(3,497)
On disposal
At 30 June 2024
6,940
315
6,625
-
-
At 30 June 2024
Net book value
-
-
1,838
50
1,888
At 30 June 2023
1,050
3,118
2,298
62
6,528
3. Trade and other receivables
2023
2024
£
£
Trade debtors
21,000
-
Other debtors
-
1,896
1,896
21,000
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
-
277
Trade creditors
18,250
500
Taxation and social security
1,483
647
Other creditors
2,730
3,024
22,463
4,448
5. Average number of persons employed
During the year the average number of employees was 0 (2023 : 3)
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