Registered number
07393912
Tower Pig Ltd
Filleted Accounts
31 January 2025
Tower Pig Ltd
Company Information
Director
L J Martin
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
20-22 Wenlock Road
London
Registered number
07393912
Tower Pig Ltd
Registered number: 07393912
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 34,610 37,250
Current assets
Stocks 50,000 50,000
Debtors 4 649,729 475,853
Cash at bank and in hand 50,594 13,581
750,323 539,434
Creditors: amounts falling due within one year 5 (1,172,966) (918,568)
Net current liabilities (422,643) (379,134)
Total assets less current liabilities (388,033) (341,884)
Creditors: amounts falling due after more than one year 6 (97,157) (87,121)
Net liabilities (485,190) (429,005)
Capital and reserves
Called up share capital 1 1
Profit and loss account (485,191) (429,006)
Shareholder's funds (485,190) (429,005)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L J Martin
Director
Approved by the board on 30 April 2025
Tower Pig Ltd
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings nil
Equipment over 5 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 84 84
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 February 2024 104,855 3,000 107,855
Additions 19,702 - 19,702
Disposals - (3,000) (3,000)
At 31 January 2025 124,557 - 124,557
Depreciation
At 1 February 2024 68,005 2,600 70,605
Charge for the year 21,942 (1,600) 20,342
On disposals - (1,000) (1,000)
At 31 January 2025 89,947 - 89,947
Net book value
At 31 January 2025 34,610 - 34,610
At 31 January 2024 36,850 400 37,250
4 Debtors 2025 2024
£ £
Trade debtors 35,085 26,325
Directors loan - 135,217
Intercompany loan 148,960 100,000
Other debtors 465,684 214,311
649,729 475,853
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 351,293 160,709
Taxation and social security costs 189,705 295,647
Other creditors 631,968 462,212
1,172,966 918,568
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 31,667 36,667
Intercompany loans 19,200 12,924
Directors loan 46,290 -
Other creditors - 37,530
97,157 87,121
7 Contingent liabilities
The accounts have been prepared on the going concern basis which is dependent on the continuing financial support of the director.
8 Controlling party
The company is controlled by the director.
9 Other information
Tower Pig Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
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