TOWER HILL BARNS LIMITED


Directors	MARSHALL, Andrew Julian
	MARSHALL, Sally


Registered Address	Tower Hill Barns
	Llangollen Road
	Trevor
	LL20 7TN


Registered Number	08703296 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		2,472,747		2,463,283
Investments			245,871		-
			2,718,618		2,463,283
Current assets
Stocks		5,446		2,365
Debtors		117,548		400,241
Cash at bank and on hand		1		191,170
		122,995		593,776
Creditors amounts falling due within one year	4	(427,839)		(427,118)
Net current assets (liabilities)			(304,844)		166,658
Total assets less current liabilities			2,413,774		2,629,941
Creditors amounts falling due after one year	5		(796,944)		(896,746)
Net assets			1,616,830		1,733,195
Capital and reserves
Called up share capital			100		100
Revaluation reserve			1,076,000		1,076,000
Profit and loss account			540,730		657,095
Shareholders' funds			1,616,830		1,733,195

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 12 May 2025, and are signed on its behalf by:

MARSHALL, Andrew Julian
Director

MARSHALL, Sally
Director

Registered Company No. 08703296

TOWER HILL BARNS LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	25		36

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 24	3,074,213
	Additions	26,319
	At 31 December 24	3,100,532
	Depreciation and impairment
	At 01 January 24	610,930
	Charge for year	16,855
	At 31 December 24	627,785
	Net book value
	At 31 December 24	2,472,747
	At 31 December 23	2,463,283

4.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	37,807	28,927
Bank borrowings and overdrafts	48,017	239
Taxation and social security	209,876	152,366
Other creditors	123,232	245,586
Accrued liabilities and deferred income	8,907	-
Total	427,839	427,118


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included in Creditors: amounts due within one year is the provision for Deferred income, representing income received in advance of the provision of goods or services and is recognised as a liability until the relevant performance obligation has been fulfilled. The movement in deferred income during the year was as follows: For the Year Ending 31/12/2024 £112,562 for the Year Ending 31/12/2023 £234,916

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Included in Creditors: amounts due within one year is the provision for Deferred income,  representing income received in advance of the provision of goods or services and is recognised as a liability until the relevant performance obligation has been fulfilled. The movement in deferred income during the year was as follows: For the Year Ending 31/12/2024 £112,562 for the Year Ending 31/12/2023 £234,916

5.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	796,944	896,746
Total	796,944	896,746


	Included in Other Creditors falling due after 1 Year are the following balances as at 31/12/2024 - HSBC £715,311 & Coronavirus Business Loan £ £81,632

6.	Further information regarding the company's financial position
	Dividends declared in the Accounts for the years ending 31/12/2024 £104,000 for the year ending 31/12/2023 £388,900