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REGISTERED NUMBER: 03658157 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

TOWER BOOTS LONDON LIMITED

TOWER BOOTS LONDON LIMITED (REGISTERED NUMBER: 03658157)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


TOWER BOOTS LONDON LIMITED (REGISTERED NUMBER: 03658157)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 48,955 93,343
Property, plant and equipment 5 584,417 1,127,872
Investments 6 2 2
633,374 1,221,217

CURRENT ASSETS
Inventories 798,015 1,936,592
Debtors 7 467,896 1,203,411
Cash at bank and in hand 76,674 385,450
1,342,585 3,525,453
CREDITORS
Amounts falling due within one year 8 1,779,959 2,024,282
NET CURRENT (LIABILITIES)/ASSETS (437,374 ) 1,501,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,000

2,722,388

CREDITORS
Amounts falling due after more than one year 9 (10,176 ) (237,245 )

PROVISIONS FOR LIABILITIES 10 (134,403 ) (139,891 )
NET ASSETS 51,421 2,345,252

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 51,319 2,345,150
51,421 2,345,252

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 her 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.

TOWER BOOTS LONDON LIMITED (REGISTERED NUMBER: 03658157)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2024


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 28 March 2025 and were signed by:





Mr C Demopoulos - Director


TOWER BOOTS LONDON LIMITED (REGISTERED NUMBER: 03658157)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Tower Boots London Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03658157

Registered office: Foundation House 16g Perseverance Works
38 Kingsland Road
London
E2 8DD

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 5 years.

TOWER BOOTS LONDON LIMITED (REGISTERED NUMBER: 03658157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short leasehold property - 15% reducing balance
Plant and machinery - 20% reducing balance
Fixtures and fittings - 20% reducing balance
Motor vehicles - 20% reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any impairment.

Inventories
Inventories 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 inventory sold is recognised as an expense in the period in which the related revenue is recognised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

TOWER BOOTS LONDON LIMITED (REGISTERED NUMBER: 03658157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023
and 31 October 2024 221,941
AMORTISATION
At 1 November 2023 128,598
Charge for year 44,388
At 31 October 2024 172,986
NET BOOK VALUE
At 31 October 2024 48,955
At 31 October 2023 93,343

TOWER BOOTS LONDON LIMITED (REGISTERED NUMBER: 03658157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 103,747 233,504 1,926,978 219,639 2,483,868
Disposals - (233,504 ) (468,521 ) - (702,025 )
At 31 October 2024 103,747 - 1,458,457 219,639 1,781,843
DEPRECIATION
At 1 November 2023 48,683 187,204 954,958 165,151 1,355,996
Charge for year 8,259 9,260 123,030 9,188 149,737
Eliminated on disposal - (196,464 ) (111,843 ) - (308,307 )
At 31 October 2024 56,942 - 966,145 174,339 1,197,426
NET BOOK VALUE
At 31 October 2024 46,805 - 492,312 45,300 584,417
At 31 October 2023 55,064 46,300 972,020 54,488 1,127,872

Included within motor vehicles are £53,085 (2023: £53,085) of assets held under finance lease.

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 2
NET BOOK VALUE
At 31 October 2024 2
At 31 October 2023 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,800 132,920
Other debtors 451,096 1,070,491
467,896 1,203,411

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 212,541 100,000
Hire purchase contracts 12,982 12,982
Trade creditors 946,571 1,726,578
Taxation and social security 26,670 7,901
Other creditors 581,195 176,821
1,779,959 2,024,282

TOWER BOOTS LONDON LIMITED (REGISTERED NUMBER: 03658157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 163,096
Hire purchase contracts 10,176 21,931
Other creditors - 52,218
10,176 237,245

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances (5,487 ) (26,831 )
Deferred tax 139,890 166,722
134,403 139,891

Deferred
tax
£   
Balance at 1 November 2023 139,891
Provided during year (5,488 )
Balance at 31 October 2024 134,403

11. RELATED PARTY DISCLOSURES

Included in other debtors due within one year, are amounts totalling £Nil (2023: £467,715) due from the connected companies. These loans were interest free and recoverable on demand.

Included in the other creditors, more than one year, is an amount of £Nil (2023: £52,218) due to the directors of the company. Also included ia an amount of £Nil (2023: £143,092) due to the connected companies. These loans were interest free and repayable on demand.

Included within other creditors is a loan for £550,000 (2023: £Nil) owed to a third party. This loan is provided interest free and repayable on demand.