REGISTERED NUMBER: 07353012 (England and Wales)

Financial Statements for the Year Ended 31 August 2025

for

Tower 23 Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K Kandola

Mrs. N Kandola

REGISTERED OFFICE:

The Old Doctor's House

74 Grange Road

Dudley

West Midlands

DY1 2AW

REGISTERED NUMBER:

07353012 (England and Wales)

BANKERS:

Lloyds Bank Plc

153 High Street

Rowley Regis

West Midlands

B65 0EB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,818

93,050

4,818

93,050

CURRENT ASSETS

Stocks

49,500

49,500

Debtors

53,956

36,864

Cash at bank and in hand

460,209

429,538

563,665

515,902

CREDITORS

Amounts falling due within one year

809,532

662,625

NET CURRENT LIABILITIES

(245,867

)

(146,723

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(241,049

)

(53,673

)

CREDITORS

Amounts falling due after more than one year

(9,695

)

(13,842

)

PROVISIONS FOR LIABILITIES

6

-

(23,262

)

NET LIABILITIES

(250,744

)

(90,777

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

(250,746

)

(90,779

)

SHAREHOLDERS' FUNDS

(250,744

)

(90,777

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Balance Sheet for the year ended 31 August 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 May 2026 and were signed on its behalf by:

Mr K Kandola - Director

1.	STATUTORY INFORMATION

Tower 23 Ltd is a private company, limited by shares , registered in England and Wales. 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.

The accounts have been prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Tower 23 Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 189 (2024 - 147 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2024

and 31 August 2025

7,497

AMORTISATION

At 1 September 2024

and 31 August 2025

7,497

NET BOOK VALUE

At 31 August 2025

-

At 31 August 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2024

145,848

Additions

540

Disposals

(107,124

)

At 31 August 2025

39,264

DEPRECIATION

At 1 September 2024

52,798

Charge for year

13,794

Eliminated on disposal

(32,146

)

At 31 August 2025

34,446

NET BOOK VALUE

At 31 August 2025

4,818

At 31 August 2024

93,050

6.	PROVISIONS FOR LIABILITIES

31.8.25

31.8.24

£

£

Deferred tax

-

23,262

Deferred

tax

£

Balance at 1 September 2024

23,262

Credit to Income Statement during year

(23,262

)

Balance at 31 August 2025

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.25

31.8.24

value:

£

£

2

Ordinary

£1

2

2

8.	RELATED PARTY DISCLOSURES

At the year end the company owed £215,482 (£126,012 - 2024) by Tower 23 Ventures Limited, a company under the control of the directors.

The parent company is Tower 23 Capital Ltd, who own 100% of the share capital.

The ultimate controlling party is K Kandola and N Kandola, who own 100% of the shares in Tower 23 Capital, the parent company.

9.	GOING CONCERN

The company is supported by Tower 23 Capital Limited, its parent company.