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Towergate Estates Limited

Registered Number
11529859
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

Towergate Estates Limited
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors | Q G D Bull
| R Churchill
| J S McGinley

Registered Address | 3 Coldbath Square
| London
| EC1R 5HL

Registered Number | 11529859 (England and Wales)

Towergate Estates Limited
Balance Sheet as at
31 March 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | - |  |  |  | 24
|  |  |  | - |  |  |  | 24
Current assets |  |  |  |  |  |  |  |
Stocks | 4 | 10,291 |  |  |  | - |  |
Debtors | 5 | 59,890 |  |  |  | 1,421,116 |  |
Cash at bank and on hand |  | 1,159 |  |  |  | 26,756 |  |
|  | 71,340 |  |  |  | 1,447,872 |  |
Creditors amounts falling due within one year | 6 | (69,523) |  |  |  | (1,436,799) |  |
Net current assets (liabilities) |  |  |  | 1,817 |  |  |  | 11,073
Total assets less current liabilities |  |  |  | 1,817 |  |  |  | 11,097
Creditors amounts falling due after one year | 7 |  |  | (1,417) |  |  |  | (9,917)
Net assets |  |  |  | 400 |  |  |  | 1,180
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 5,000 |  |  |  | 5,000
Other reserves |  |  |  | 1,500 |  |  |  | 1,500
Profit and loss account |  |  |  | (6,100) |  |  |  | (5,320)
Shareholders' funds |  |  |  | 400 |  |  |  | 1,180

- 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 financial statements were approved and authorised for issue by the Board of Directors on 24 March 2026, and are signed on its behalf by:
R Churchill Director Registered Company No. 11529859

Towergate Estates Limited
Notes to the Financial Statements
for the year ended 31 March 2025

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. The financial statements report the financial results only of the company and are presented in Sterling (£).

| Statement of compliance
--- | ---
| The financial statements have been prepared in compliance with Section 1A of Financial Reporting Standard 102 and Companies Act 2006 as these apply to the financial statements for the period and there were no material departures from the reporting standard.

| Turnover policy
--- | ---
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Revenue from rendering of services
--- | ---
| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: • the amount of revenue can be measured reliably; • it is probable that the Company will receive the consideration due under the contract; • the stage of completion of the contract at the end of the reporting period can be measured reliably; and • the costs incurred and the costs to complete the contract can be measured reliably.

| Interest income
--- | ---
| Interest income is recognised using the effective interest rate method.

| Current taxation
--- | ---
| Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The assets&amp;amp;amp;amp;amp;apos; residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on all tangible fixed assets as follows:

|  | Straight line (years)
| Office Equipment | 3

| Stocks and work in progress
--- | ---
| Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

| Share capital
--- | ---
| Ordinary shares are classified as equity.

2. | Average number of employees
--- | ---
| The average number of employees include directors.

|  | 2025 |  | 2024
| Average number of employees during the year | 2 |  | 2

3. | Tangible fixed assets
--- | ---

|  | Office Equipment |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 April 24 | 863 |  | 863
| At 31 March 25 | 863 |  | 863
| Depreciation and impairment
| At 01 April 24 | 839 |  | 839
| Charge for year | 24 |  | 24
| At 31 March 25 | 863 |  | 863
| Net book value
| At 31 March 25 | - |  | -
| At 31 March 24 | 24 |  | 24

4. | Stocks
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Work in progress | 10,291 |  | -
| Total | 10,291 |  | -

5. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Other debtors | 45,761 |  | 1,324,988
| Prepayments and accrued income | 14,129 |  | 96,128
| Total | 59,890 |  | 1,421,116

6. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 21,517 |  | 117,143
| Bank borrowings and overdrafts | 8,500 |  | 17,364
| Taxation and social security | 28,214 |  | 85,323
| Other creditors | 8,293 |  | 1,213,971
| Accrued liabilities and deferred income | 2,999 |  | 2,998
| Total | 69,523 |  | 1,436,799

7. | Creditors: amounts due after one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 1,417 |  | 9,917
| Total | 1,417 |  | 9,917

| The bank loans above are guaranteed by the UK Government under BBLS.