TOWERSTAR LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03156528

TOWERSTAR LIMITED

Filleted Unaudited Financial Statements

28 February 2025

TOWERSTAR LIMITED

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4		154,791	154,791

Current assets

Debtors	5	196,751	165,751
Cash at bank and in hand		31,451	28,283
		---------	---------
		228,202	194,034

Creditors: amounts falling due within one year	6	26,660		26,049
		---------		---------
Net current assets			201,542	167,985
			---------	---------
Total assets less current liabilities			356,333	322,776
			---------	---------
Net assets			356,333	322,776
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	356,331	322,774
	---------	---------
Shareholders funds	356,333	322,776
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

TOWERSTAR LIMITED

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 11 May 2026 , and are signed on behalf of the board by:

N N Iwanier
Director

Company registration number: 03156528

TOWERSTAR LIMITED

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1-2 Temple Fortune Parade, Bridge Lane, London, NW11 OQN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures & fittings	-	10% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Tangible assets

	Fixtures and fittings	Investment property	Total
	£	£	£
Cost
At 1 March 2024 and 28 February 2025	10,974	154,791	165,765
	--------	---------	---------
Depreciation
At 1 March 2024 and 28 February 2025	10,974	–	10,974
	--------	---------	---------
Carrying amount
At 28 February 2025	–	154,791	154,791
	--------	---------	---------
At 29 February 2024	–	154,791	154,791
	--------	---------	---------

5. Debtors

	2025	2024
	£	£
Other debtors	196,751	165,751
	---------	---------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	22,940	19,679
Other creditors	3,720	6,370
	--------	--------
	26,660	26,049
	--------	--------