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REGISTERED NUMBER: 09252580 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Town Arms Limited

Town Arms Limited (Registered number: 09252580)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Town Arms Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mr S Crowder





REGISTERED OFFICE: The Old Stables 
Sutton Manor Farm
Bishop's Sutton
Hampshire
SO24 0AA





REGISTERED NUMBER: 09252580 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
The Old Stables
Sutton Manor Farm
Bishops Sutton
Alresford
Hampshire
SO24 0AA

Town Arms Limited (Registered number: 09252580)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,336 9,170
Investment property 5 550,000 550,000
557,336 559,170

CURRENT ASSETS
Debtors 6 4,864 13,318
Cash at bank and in hand 10,039 9,968
14,903 23,286
CREDITORS
Amounts falling due within one year 7 37,955 32,705
NET CURRENT LIABILITIES (23,052 ) (9,419 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

534,284

549,751

CREDITORS
Amounts falling due after more than one
year

8

(478,667

)

(498,167

)

PROVISIONS FOR LIABILITIES 10 (2,977 ) (3,325 )
NET ASSETS 52,640 48,259

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve - non-distributable 6,750 6,750
Retained earnings 45,790 41,409
SHAREHOLDERS' FUNDS 52,640 48,259

Town Arms Limited (Registered number: 09252580)

Balance Sheet - continued
31 October 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

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 director and authorised for issue on 14 March 2025 and were signed by:





Mr S Crowder - Director


Town Arms Limited (Registered number: 09252580)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Town Arms 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 Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Debtors includes amounts recoverable on service contracts. Where the outcome of a transaction can be estimated reliably, revenue is recognised by reference to the stage of completion of the transaction at the balance sheet date (in accordance with FRS 102 paragraph 23.14).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% reducing balance basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year 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 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 year 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.

3. EMPLOYEES

The average number of employees during the year was NIL (2023 - NIL).

Town Arms Limited (Registered number: 09252580)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 November 2023
and 31 October 2024 20,213
DEPRECIATION
At 1 November 2023 11,043
Charge for year 1,834
At 31 October 2024 12,877
NET BOOK VALUE
At 31 October 2024 7,336
At 31 October 2023 9,170

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 550,000
NET BOOK VALUE
At 31 October 2024 550,000
At 31 October 2023 550,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2021 8,333
Cost 541,667
550,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 541,667 541,667

Investment property was valued on an open market basis on 31 October 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts recoverable on contract - 10,200
Prepayments 4,864 3,118
4,864 13,318

Town Arms Limited (Registered number: 09252580)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 3,566 -
VAT 1,933 4,176
Directors' current accounts 26,591 27,552
Accruals and deferred income 5,865 977
37,955 32,705

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Directors' loan accounts 478,667 498,167

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Directors' loan account 478,667 498,167

On 4 April 2017 the company registered a charge (Charge Code 0925 2580 0001) in connection with property acquired from Mr S Crowder, the sole director. The borrower (Town Arms Limited) with full title guarantee charges the property by way of legal mortgage as security for the obligations of the lender (Mr S Crowder) in a loan arrangement.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,394 1,742
Revaluations 1,583 1,583
2,977 3,325

Deferred
tax
£   
Balance at 1 November 2023 3,325
Accelerated capital allowances (348 )
Balance at 31 October 2024 2,977

Town Arms Limited (Registered number: 09252580)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
97 Ordinary £1 97 97
1 Ordinary 'A' £1 1 1
1 Ordinary 'B' £1 1 1
1 Ordinary 'C' £1 1 1
100 100

The Ordinary shares, Ordinary 'A' shares, Ordinary 'B' shares and Ordinary 'C' shares rank pari passu in all respects except that dividends may be paid to the holders of one class of shares to the exclusion of the other at the director's discretion.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £7,500 (2023 - £10,000) were paid to the director .

Mr S Crowder
Director

During the year ended 31 October 2017 the company acquired a property amounting to £541,667 from Mr S Crowder, the sole director. This amount is disclosed under investment property. At the balance sheet date there was no formal repayment schedule for the loan in place, but the company made a capital repayment amounting to £19,500 (2023 - £14,500) during the year.

Mr S Crowder also incurred expenses on behalf of the company amounting to £2,039 (2023 - £2,039).

2024 2023
£ £
Amount owed to the director - creditors amounts falling due within one year 26,591 27,552
Amount owed to the director - creditors amounts falling due after one year 478,667 498,167
505,258 526,126