IRIS Accounts Production v25.1.0.734 07334512 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073345122023-09-30073345122024-09-30073345122023-10-012024-09-30073345122022-09-30073345122022-10-012023-09-30073345122023-09-3007334512ns15:EnglandWales2023-10-012024-09-3007334512ns14:PoundSterling2023-10-012024-09-3007334512ns10:Director12023-10-012024-09-3007334512ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3007334512ns10:SmallEntities2023-10-012024-09-3007334512ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3007334512ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3007334512ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3007334512ns10:FullAccounts2023-10-012024-09-300733451212023-10-012024-09-3007334512ns10:Director22023-10-012024-09-3007334512ns10:CompanySecretary12023-10-012024-09-3007334512ns10:RegisteredOffice2023-10-012024-09-3007334512ns5:CurrentFinancialInstruments2024-09-3007334512ns5:CurrentFinancialInstruments2023-09-3007334512ns5:Non-currentFinancialInstruments2024-09-3007334512ns5:Non-currentFinancialInstruments2023-09-3007334512ns5:ShareCapital2024-09-3007334512ns5:ShareCapital2023-09-3007334512ns5:RetainedEarningsAccumulatedLosses2024-09-3007334512ns5:RetainedEarningsAccumulatedLosses2023-09-3007334512ns5:NetGoodwill2023-10-012024-09-3007334512ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3007334512ns5:PatentsTrademarksLicencesConcessionsSimilar2023-10-012024-09-3007334512ns5:LeaseholdImprovements2023-10-012024-09-3007334512ns5:FurnitureFittings2023-10-012024-09-3007334512ns5:MotorVehicles2023-10-012024-09-3007334512ns5:NetGoodwill2023-09-3007334512ns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-3007334512ns5:NetGoodwill2024-09-3007334512ns5:PatentsTrademarksLicencesConcessionsSimilar2024-09-3007334512ns5:NetGoodwill2023-09-3007334512ns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-3007334512ns5:LeaseholdImprovements2023-09-3007334512ns5:FurnitureFittings2023-09-3007334512ns5:MotorVehicles2023-09-3007334512ns5:LeaseholdImprovements2024-09-3007334512ns5:FurnitureFittings2024-09-3007334512ns5:MotorVehicles2024-09-3007334512ns5:LeaseholdImprovements2023-09-3007334512ns5:FurnitureFittings2023-09-3007334512ns5:MotorVehicles2023-09-3007334512ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3007334512ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3007334512ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-09-3007334512ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-09-3007334512ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-09-3007334512ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-3007334512ns5:Secured2024-09-3007334512ns5:Secured2023-09-3007334512ns10:Director222023-09-3007334512ns10:Director222022-09-3007334512ns10:Director222023-10-012024-09-3007334512ns10:Director222022-10-012023-09-3007334512ns10:Director222024-09-3007334512ns10:Director222023-09-30073345121ns10:Director12023-09-30073345121ns10:Director12022-09-30073345121ns10:Director12023-10-012024-09-30073345121ns10:Director12022-10-012023-09-30073345121ns10:Director12024-09-30073345121ns10:Director12023-09-30
REGISTERED NUMBER: 07334512 (England and Wales)















TOUCHDOWN ASSOCIATES LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2024






TOUCHDOWN ASSOCIATES LIMITED (REGISTERED NUMBER: 07334512)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOUCHDOWN ASSOCIATES LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr J T Amos
Mr M P Jones



SECRETARY: Mr M P Jones



REGISTERED OFFICE: 59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX



REGISTERED NUMBER: 07334512 (England and Wales)



ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX



BANKERS: Lloyds Bank Plc
32-34 Alcester Rd S
King's Heath
B14 7PU

TOUCHDOWN ASSOCIATES LIMITED (REGISTERED NUMBER: 07334512)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 396,023 455,037
Tangible assets 5 254,950 258,656
650,973 713,693

CURRENT ASSETS
Stocks 2,099,880 2,054,627
Debtors 6 1,077,222 1,200,199
Cash at bank and in hand 1,237,014 963,092
4,414,116 4,217,918
CREDITORS
Amounts falling due within one year 7 910,319 1,087,556
NET CURRENT ASSETS 3,503,797 3,130,362
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,154,770

3,844,055

CREDITORS
Amounts falling due after more than one
year

8

(123,796

)

(200,000

)

PROVISIONS FOR LIABILITIES (63,431 ) (57,883 )
NET ASSETS 3,967,543 3,586,172

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 3,967,243 3,585,872
SHAREHOLDERS' FUNDS 3,967,543 3,586,172

TOUCHDOWN ASSOCIATES LIMITED (REGISTERED NUMBER: 07334512)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





Mr J T Amos - Director


TOUCHDOWN ASSOCIATES LIMITED (REGISTERED NUMBER: 07334512)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Touchdown Associates 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.

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.

Turnover
Turnover represents net sales of retail goods and commission on pawns, buybacks and cheque cashing services, excluding value added tax.

Cheque cashing commission is recognised when the customer cheque is banked.

Buyback, personal loan and pawn interest revenue is recognised when the customer repays the advance.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basis financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans from related parties.

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.


TOUCHDOWN ASSOCIATES LIMITED (REGISTERED NUMBER: 07334512)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2023 - 65 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 1,013,596 125,000 1,138,596
AMORTISATION
At 1 October 2023 658,837 24,722 683,559
Amortisation for year 50,680 8,334 59,014
At 30 September 2024 709,517 33,056 742,573
NET BOOK VALUE
At 30 September 2024 304,079 91,944 396,023
At 30 September 2023 354,759 100,278 455,037

TOUCHDOWN ASSOCIATES LIMITED (REGISTERED NUMBER: 07334512)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 853,024 443,908 20,995 1,317,927
Additions 4,670 8,814 49,017 62,501
At 30 September 2024 857,694 452,722 70,012 1,380,428
DEPRECIATION
At 1 October 2023 673,426 378,409 7,436 1,059,271
Charge for year 43,030 13,027 10,150 66,207
At 30 September 2024 716,456 391,436 17,586 1,125,478
NET BOOK VALUE
At 30 September 2024 141,238 61,286 52,426 254,950
At 30 September 2023 179,598 65,499 13,559 258,656

The net book value of tangible fixed assets includes £ 44,115 in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 692,460 697,027
Other debtors 384,762 503,172
1,077,222 1,200,199

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 120,000 120,000
Hire purchase contracts 6,735 -
Trade creditors 94,474 88,941
Taxation and social security 507,483 507,017
Other creditors 181,627 371,598
910,319 1,087,556

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 80,000 200,000
Hire purchase contracts 43,796 -
123,796 200,000

TOUCHDOWN ASSOCIATES LIMITED (REGISTERED NUMBER: 07334512)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 120,000 120,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 80,000 120,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 80,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 200,000 320,000

The bank overdraft and loan is secured by a debenture over the company's assets and personal guarantees from the directors.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr M P Jones
Balance outstanding at start of year 340,000 -
Amounts advanced 3,763 340,000
Amounts repaid (340,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,763 340,000

Mr J T Amos
Balance outstanding at start of year - -
Amounts advanced 200,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 200,000 -

TOUCHDOWN ASSOCIATES LIMITED (REGISTERED NUMBER: 07334512)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. RELATED PARTY DISCLOSURES

At the year end the company owed £116, 630 (2023 - £201,396) to AW Computers Limited, a related company.
At the year end the company was owed £8,275 (2023 - £8,275) by Midlands Media Limited, a related company.
At the year end the company was owed £564 (2023 - £564 owed to Forward First Limited) by Forward First Limited, a related company.

13. ULTIMATE CONTROLLING PARTY

Mr J Amos is the ultimate controlling party by virtue of his majority holding of the issued ordinary share capital.