REGISTERED NUMBER: 06512989 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 March 2025

for

Towngate Enterprises Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C Mulcahy

REGISTERED OFFICE:

Unit 7 Towngate Business Park

Leeholme Rd

Billingham

TS23 3TA

REGISTERED NUMBER:

06512989 (England and Wales)

ACCOUNTANTS:

JBC Accountants Limited

Chartered Accountants

3B Lockheed Court

Preston Farm

Stockton on Tees

TS18 3SH

FIXED ASSETS

Tangible assets

4

13,181

17,574

CURRENT ASSETS

Stocks

1,230

1,230

Debtors

5

7,910

5,350

Cash at bank and in hand

3,080

3,543

12,220

10,123

CREDITORS

Amounts falling due within one year

6

94,189

78,200

NET CURRENT LIABILITIES

(81,969

)

(68,077

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(68,788

)

(50,503

)

CREDITORS

Amounts falling due after more than one year

7

1,274

2,808

NET LIABILITIES

(70,062

)

(53,311

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(70,063

)

(53,312

)

(70,062

)

(53,311

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 October 2025 and were signed by:

Mr C Mulcahy - Director

1.	STATUTORY INFORMATION

Towngate Enterprises 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.

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.

At the balance sheet date the company is insolvent. The company's continued existence is dependant upon the support of the director Mr C Mulcahy. The director confirms that this support will continue and for that reason the financial statements have been prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Current and deferred 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 March 2024

and 30 March 2025

35,010

DEPRECIATION

At 31 March 2024

17,436

Charge for year

4,393

At 30 March 2025

21,829

NET BOOK VALUE

At 30 March 2025

13,181

At 30 March 2024

17,574

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/3/25

30/3/24

£

£

Other debtors

7,910

5,350

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/3/25

30/3/24

£

£

Trade creditors

5,435

587

Other creditors

88,754

77,613

94,189

78,200

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/3/25

30/3/24

£

£

Other creditors

1,274

2,808