REGISTERED NUMBER: 01162845 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

TOWNSCAPE PRODUCTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mrs Y Gay

Mr G Davies

Secretary:

Mr G Davies

Registered office:

Fulwood Road South

Sutton In Ashfield

Nottinghamshire

NG17 2JZ

Registered number:

01162845 (England and Wales)

Auditors:

TC Group

10 Stadium Business Court

Millennium Way

Pride Park

Derby

Derbyshire

DE24 8HP

Fixed assets

Tangible assets

4

523,016

493,006

Investments

5

201

201

Investment property

6

330,567

330,567

853,784

823,774

Current assets

Stocks

7

300,505

330,967

Debtors

8

474,039

436,157

Cash at bank

98,893

288,570

873,437

1,055,694

Creditors

Amounts falling due within one year

9

(507,544

)

(527,840

)

Net current assets

365,893

527,854

Total assets less current liabilities

1,219,677

1,351,628

Creditors

Amounts falling due after more than one year

10

(1,769

)

(12,231

)

Net assets

1,217,908

1,339,397

Capital and reserves

Called up share capital

12

200,000

200,000

Retained earnings

1,017,908

1,139,397

Shareholders' funds

1,217,908

1,339,397

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2025 and were signed on its behalf by:

Mr G Davies - Director

1.	STATUTORY INFORMATION

Townscape Products Limited is a private company, limited by shares, incorporated and 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.

The financial statements are presented in pounds sterling (£) which is the functional currency of the company.

Going concern

The company meets its day to day working capital requirements through its current cash resources and banking facilities. The current economic conditions create uncertainty particularly over the timing and level of demand for the company's products. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facility and cash resource. The directors have reviewed the forecasts, which have been prepared to December 2026, and have concluded that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. However, prior to the financial year-end the company's board of directors formally committed to a plan to sell the business by agreeing to Heads of Terms with a prospective purchaser. The outcome of this process remains uncertain, and the intentions of the prospective new owners regarding the continuation of the company's operations have not been confirmed. These circumstances indicate the existence of a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.

Significant judgements and estimates

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.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Stock

The company's products are subject to changing technological and regulatory trends. As a result it is necessary to consider the recoverability of the cost of stocks and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.

Turnover

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

Turnover is recognised on the despatch of goods, the issue of or vesting certificates.

Tangible fixed assets

Fixed assets are recorded at cost less any accumulated depreciation and accumulated impairment. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Cost is determined on a first-in, first-out (FIFO) method.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences as residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 April 2024

900,082

2,254,421

3,154,503

Additions

52,204

22,669

74,873

At 31 March 2025

952,286

2,277,090

3,229,376

Depreciation

At 1 April 2024

465,122

2,196,375

2,661,497

Charge for year

19,112

25,751

44,863

At 31 March 2025

484,234

2,222,126

2,706,360

Net book value

At 31 March 2025

468,052

54,964

523,016

At 31 March 2024

434,960

58,046

493,006

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 April 2024

and 31 March 2025

201

Net book value

At 31 March 2025

201

At 31 March 2024

201

6.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2024

and 31 March 2025

330,567

Net book value

At 31 March 2025

330,567

At 31 March 2024

330,567

The investment property was revalued by the directors at the balance sheet date at open market value, based on the last valuation carried out by Mather Jamie on 31 January 2024.

7.

STOCKS

2025

2024

£

£

Stocks

300,505

330,967

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

465,389

416,965

Prepayments

8,650

19,192

474,039

436,157

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,464

10,204

Trade creditors

247,578

240,990

Inter company creditors

12,234

12,234

Social security and other taxes

70,985

82,268

Accruals and deferred income

166,283

182,144

507,544

527,840

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

1,769

12,231

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

45,090

49,974

Between one and five years

58,092

94,393

103,182

144,367

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

200,000

Ordinary

£1

200,000

200,000

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Liptrott (Senior Statutory Auditor)

for and on behalf of TC Group

14.	PENSION COMMITMENTS

The company made pension contributions totalling £15,589 (2024: £13,729).