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Registration number: 13002820

Towy Home Rentals Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Towy Home Rentals Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Towy Home Rentals Ltd

Company Information

Directors

Mr J E Robinson

Mrs B S Robinson

Registered office

Glenavon
Meidrim
Carmarthen
SA33 5QL

 

Towy Home Rentals Ltd

(Registration number: 13002820)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

346

215

Investment property

6

332,323

332,323

 

332,669

332,538

Current assets

 

Debtors

7

1,665

1,040

Cash at bank and in hand

 

2,862

1,308

 

4,527

2,348

Creditors: Amounts falling due within one year

8

(105,685)

(94,306)

Net current liabilities

 

(101,158)

(91,958)

Total assets less current liabilities

 

231,511

240,580

Creditors: Amounts falling due after more than one year

8

(309,105)

(309,105)

Net liabilities

 

(77,594)

(68,525)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(77,694)

(68,625)

Total equity

 

(77,594)

(68,525)

For the financial year ending 30 November 2024 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 and the option not to file the Profit and Loss Account has been taken.

 

Towy Home Rentals Ltd

(Registration number: 13002820)
Balance Sheet as at 30 November 2024

Approved and authorised by the Board on 26 August 2025 and signed on its behalf by:
 

.........................................
Mr J E Robinson
Director

.........................................
Mrs B S Robinson
Director

 
     
 

Towy Home Rentals Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Glenavon
Meidrim
Carmarthen
SA33 5QL

These financial statements were authorised for issue by the Board on 26 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

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

Plant & Machinery

20% Reducing Balance

 

Towy Home Rentals Ltd

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

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Towy Home Rentals Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

49

8

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2023

222

222

Additions

180

180

At 30 November 2024

402

402

Depreciation

At 1 December 2023

7

7

Charge for the year

49

49

At 30 November 2024

56

56

Carrying amount

At 30 November 2024

346

346

At 30 November 2023

215

215

6

Investment properties

2024
£

At 1 December

332,323

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

7

Debtors

2024
£

2023
£

Other debtors

1,665

1,040

1,665

1,040

 

Towy Home Rentals Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

9,188

1,800

Trade creditors

 

683

397

Directors' loan accounts

11

94,769

91,113

Other creditors

 

1,045

996

 

105,685

94,306

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

309,105

309,105

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

50

50

50

50

Ordinary of £1 each

50

50

50

50

 

100

100

100

100

 

Towy Home Rentals Ltd

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

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

309,105

309,105

2024
£

2023
£

Current loans and borrowings

Bank borrowings

9,188

1,800

Other borrowings

Fleet Mortgages Ltd hold a charge over the property known as 81 Water Street, SA31 1PZ dated 16 September 2022.

Paratus AMC Ltd hold a charge over the property known as Fountain Hall Farm, SA31 1SJ dated 17 November 2022.

11

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Repayments by director
£

At 30 November 2024
£

Mr J E Robinson

Interest free loan repayable on demand

(45,556)

(1,828)

(47,385)

       
     

Mrs B S Robinson

Interest free loan repayable on demand

(45,556)

(1,828)

(47,385)

       
     

 

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Mr J E Robinson

Interest free loan repayable on demand

(35,090)

(10,466)

(45,556)

       
     

Mrs B S Robinson

Interest free loan repayable on demand

(35,090)

(10,466)

(45,556)