REGISTERED NUMBER: SC695264 (Scotland)

Financial Statements For The Year Ended 30 April 2025

for

Towerwood Properties Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S I Bernard OBE

A B Bernard

Ms N Bernard

REGISTERED OFFICE:

Miller Beckett & Jackson

190 St Vincent Street

Glasgow

G2 5SP

REGISTERED NUMBER:

SC695264 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

261

471

Investments

5

400,225

-

Investment property

6

6,257,238

6,257,238

6,657,724

6,257,709

CURRENT ASSETS

Debtors

48,832

49,185

Cash at bank

501,263

439,609

550,095

488,794

CREDITORS

Amounts falling due within one year

221,038

194,511

NET CURRENT ASSETS

329,057

294,283

TOTAL ASSETS LESS CURRENT LIABILITIES

6,986,781

6,551,992

CREDITORS

Amounts falling due after more than one year

6,035,146

5,937,146

NET ASSETS

951,635

614,846

CAPITAL AND RESERVES

Called up share capital

15,001

15,001

Retained earnings

936,634

599,845

951,635

614,846

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

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

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 April 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

A B Bernard - Director

1.	STATUTORY INFORMATION

Towerwood Properties Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Computer equipment

-

20% 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.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount

of the leased asset and recognised on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2024

and 30 April 2025

1,048

DEPRECIATION

At 1 May 2024

577

Charge for year

210

At 30 April 2025

787

NET BOOK VALUE

At 30 April 2025

261

At 30 April 2024

471

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

Additions

400,225

At 30 April 2025

400,225

NET BOOK VALUE

At 30 April 2025

400,225

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

and 30 April 2025

6,257,238

NET BOOK VALUE

At 30 April 2025

6,257,238

At 30 April 2024

6,257,238

7.	RELATED PARTY DISCLOSURES

2025

2024

Amounts due to related parties

£

£

Entities with control, joint control or significant influence over the company

6,035,146

£5,937,146

There are no fixed repayment terms and no interest is payable on this balance.