Towlers (Properties) Limited 05604085 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true true 05604085 2024-02-01 2025-01-31 05604085 2025-01-31 05604085 bus:OrdinaryShareClass1 2025-01-31 05604085 core:CurrentFinancialInstruments 2025-01-31 05604085 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 05604085 core:FurnitureFittingsToolsEquipment 2025-01-31 05604085 bus:SmallEntities 2024-02-01 2025-01-31 05604085 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 05604085 bus:FilletedAccounts 2024-02-01 2025-01-31 05604085 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 05604085 bus:RegisteredOffice 2024-02-01 2025-01-31 05604085 bus:CompanySecretaryDirector1 2024-02-01 2025-01-31 05604085 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 05604085 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 05604085 core:FurnitureFittings 2024-02-01 2025-01-31 05604085 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 05604085 countries:UnitedKingdom 2024-02-01 2025-01-31 05604085 2024-01-31 05604085 core:FurnitureFittingsToolsEquipment 2024-01-31 05604085 2023-02-01 2024-01-31 05604085 2024-01-31 05604085 bus:OrdinaryShareClass1 2024-01-31 05604085 core:CurrentFinancialInstruments 2024-01-31 05604085 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05604085

Towlers (Properties) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Towlers (Properties) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Towlers (Properties) Limited

(Registration number: 05604085)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

5

370,000

370,000

Current assets

 

Debtors

6

698

631

Cash at bank and in hand

 

11,918

33,895

 

12,616

34,526

Creditors: Amounts falling due within one year

7

(7,474)

(10,796)

Net current assets

 

5,142

23,730

Net assets

 

375,142

393,730

Capital and reserves

 

Called up share capital

8

4,538

4,538

Share premium reserve

327,978

327,978

Retained earnings

42,626

61,214

Shareholders' funds

 

375,142

393,730

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 

Mr J D Towler
Company secretary and director

   
     
 

Towlers (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Kemp House Farm
East End
Ampleforth
York
YO62 4DA

These financial statements were authorised for issue by the Board on 9 June 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Towlers (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

10% Straight line

 

Towlers (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Towlers (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

7,534

7,534

Disposals

(7,534)

(7,534)

At 31 January 2025

-

-

Depreciation

At 1 February 2024

7,534

7,534

Eliminated on disposal

(7,534)

(7,534)

At 31 January 2025

-

-

Carrying amount

At 31 January 2025

-

-

5

Investment properties

2025
£

At 1 February

370,000

At 31 January

370,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2025
£

2024
£

Prepayments

698

631

 

698

631

 

Towlers (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

2,637

2,415

Taxation and social security

 

331

3,875

Accruals and deferred income

 

840

840

Other creditors

 

3,666

3,666

 

7,474

10,796

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary Shares of £1 each

4,538

4,538

4,538

4,538

       

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

2,637

2,415