Townscape Tannery Square Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09142803

Townscape Tannery Square Ltd

Filleted Unaudited Financial Statements

31 August 2024

Townscape Tannery Square Ltd

Financial Statements

Year ended 31 August 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Townscape Tannery Square Ltd

Statement of Financial Position

31 August 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	250,153	250,153

Current assets

Debtors	6	336,863	334,038
Cash at bank and in hand		6,580	5,352
		---------	---------
		343,443	339,390

Creditors: amounts falling due within one year	7	631,849	633,524
		---------	---------
Net current liabilities		288,406	294,134
		---------	---------
Total assets less current liabilities		( 38,253)	( 43,981)
		--------	--------
Net liabilities		( 38,253)	( 43,981)
		--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 38,255)	( 43,983)
	--------	--------
Shareholders deficit	( 38,253)	( 43,981)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr P A Roberts

Director

Company registration number: 09142803

Townscape Tannery Square Ltd

Notes to the Financial Statements

Year ended 31 August 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 14 Marlowe Business Centre, 4-6 Orange Street, Canterbury, CT1 2JA, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Freehold property is held at cost and no depreciation is charged. As the directors believe that the freehold property will appreciate in value, and therefore to charge depreciation would not be appropriate.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Freehold property
	£
Cost
At 1 September 2023 and 31 August 2024	250,153
	---------
Depreciation
At 1 September 2023 and 31 August 2024	–
	---------
Carrying amount
At 31 August 2024	250,153
	---------
At 31 August 2023	250,153
	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	3,720	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	233	233
Other debtors	332,910	333,805
	---------	---------
	336,863	334,038
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	9,570	2,472
Corporation tax	1,343	–
Social security and other taxes	1,935	1,587
Other creditors	619,001	629,465
	---------	---------
	631,849	633,524
	---------	---------

Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.

8. Related party transactions

At the year end the company was owed £32,935 (2023: £32,935) by companies associated by common control.

9. Controlling party

The ultimate parent company is Townscape Ltd , a company registered in England & Wales. The registered address of the ultimate controlling party is: Coombe Farm, Etchinghill, Folkestone, Kent, United Kingdom, CT18 8BP .