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Registered number: 04663618
Towlers Coaches Ltd
Financial Statements
For The Year Ended 30 April 2025
Robson Downing Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04663618
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 54,903 64,287
54,903 64,287
CURRENT ASSETS
Debtors 5 28,745 28,975
Cash at bank and in hand 18,226 11,275
46,971 40,250
Creditors: Amounts Falling Due Within One Year 6 (100,040 ) (101,547 )
NET CURRENT ASSETS (LIABILITIES) (53,069 ) (61,297 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,834 2,990
Creditors: Amounts Falling Due After More Than One Year 7 (25,590 ) (31,327 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,651 ) (14,997 )
NET LIABILITIES (36,407 ) (43,334 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (36,507 ) (43,434 )
SHAREHOLDERS' FUNDS (36,407) (43,334)
Page 1
Page 2
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Gary Salter
Director
18 July 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Towlers Coaches Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04663618 . The registered office is Windmill Garage 34 Wisbech Road, Long Sutton, Spalding, PE12 9AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
6Average number of employees, including directors, during the year was: 6 (2024: 5)
6 5
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 May 2024 4,300 312,721 3,500 3,016
Additions - 9,274 - 4,052
Disposals - (8,221 ) - -
As at 30 April 2025 4,300 313,774 3,500 7,068
Depreciation
As at 1 May 2024 - 255,601 1,531 2,562
Provided during the period - 15,098 492 1,126
Disposals - (2,220 ) - -
As at 30 April 2025 - 268,479 2,023 3,688
Net Book Value
As at 30 April 2025 4,300 45,295 1,477 3,380
As at 1 May 2024 4,300 57,120 1,969 454
Computer Equipment Total
£ £
Cost
As at 1 May 2024 665 324,202
Additions 233 13,559
Disposals - (8,221 )
As at 30 April 2025 898 329,540
Depreciation
As at 1 May 2024 221 259,915
Provided during the period 226 16,942
Disposals - (2,220 )
As at 30 April 2025 447 274,637
Net Book Value
As at 30 April 2025 451 54,903
As at 1 May 2024 444 64,287
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 25,162 25,812
Other debtors 3,583 3,163
28,745 28,975
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 45,879 63,977
Bank loans and overdrafts 24,819 6,717
Other creditors 24,223 17,633
Taxation and social security 5,119 13,220
100,040 101,547
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 25,590 31,327
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 5