Company Registration No. 09365962 (England and Wales)
SALOP TOWING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
SALOP TOWING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SALOP TOWING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
203,330
28,291
Current assets
Stocks
7,350
8,400
Debtors
5
64,396
68,468
Cash at bank and in hand
198,059
360,312
269,805
437,180
Creditors: amounts falling due within one year
6
(119,764)
(143,581)
Net current assets
150,041
293,599
Total assets less current liabilities
353,371
321,890
Creditors: amounts falling due after more than one year
7
-
0
(1,667)
Provisions for liabilities
(6,024)
(5,375)
Net assets
347,347
314,848
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
347,247
314,748
Total equity
347,347
314,848

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 May 2026 and are signed on its behalf by:
Mr D Howard
Director
Company Registration No. 09365962
SALOP TOWING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

Salop Towing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5-6 Benbow Business Park, Harlescott Lane, Shrewsbury, Shropshire, SY1 3FA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Not depreciated
Fixtures, fittings & equipment
25% per annum on written down value
Motor vehicles
25% per annum on written down value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

SALOP TOWING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -
1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
8
10
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025 and 31 March 2026
25,000
Amortisation and impairment
At 1 April 2025 and 31 March 2026
25,000
Carrying amount
At 31 March 2026
-
0
At 31 March 2025
-
0
SALOP TOWING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
4
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2025
-
0
8,184
83,007
91,191
Additions
171,625
-
0
31,000
202,625
Disposals
-
0
-
0
(38,505)
(38,505)
At 31 March 2026
171,625
8,184
75,502
255,311
Depreciation and impairment
At 1 April 2025
-
0
6,427
56,473
62,900
Depreciation charged in the year
-
0
439
10,129
10,568
Eliminated in respect of disposals
-
0
-
0
(21,487)
(21,487)
At 31 March 2026
-
0
6,866
45,115
51,981
Carrying amount
At 31 March 2026
171,625
1,318
30,387
203,330
At 31 March 2025
-
0
1,757
26,534
28,291
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
64,396
68,468
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
1,667
10,000
Trade creditors
47,399
47,496
Corporation tax
44,846
56,563
Other taxation and social security
20,731
26,338
Other creditors
3,026
1,089
Accruals and deferred income
2,095
2,095
119,764
143,581
7
Creditors: amounts falling due after more than one year
2026
2025
Notes
£
£
Bank loans and overdrafts
-
0
1,667
SALOP TOWING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
8
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
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