REGISTERED NUMBER: 08499825 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

PHILLIP TOWNSEND ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D M Bohmbach

I W Fairbairn

B M Dastur

REGISTERED OFFICE:

128 City Road

London

EC1V 2NX

REGISTERED NUMBER:

08499825 (England and Wales)

AUDITORS:

S&W Audit

Statutory Auditor

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

4,937

2,925

CURRENT ASSETS

Debtors

5

553,194

831,252

Cash at bank and in hand

2,735,344

2,044,882

3,288,538

2,876,134

CREDITORS

Amounts falling due within one year

6

(271,806

)

(232,502

)

NET CURRENT ASSETS

3,016,732

2,643,632

TOTAL ASSETS LESS CURRENT LIABILITIES

3,021,669

2,646,557

PROVISIONS FOR LIABILITIES

8

(1,234

)

-

NET ASSETS

3,020,435

2,646,557

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,020,335

2,646,457

3,020,435

2,646,557

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2026 and were signed on its behalf by:

I W Fairbairn - Director

1.	STATUTORY INFORMATION

Phillip Townsend Associates Limited 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.

GOING CONCERN

The directors, with reference to business forecasts, work pipeline, and strong cash position of the company believe that the company has adequate resources to continue in operational existence for the foreseeable future, defined as a period of at least 12 months from the date of signing the Phillip Townsend Associates Limited financial statements for the year ended 31 December 2025. They believe the company is well placed to withstand any future economic downturn, due to the secured contracts in place and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

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 contracts for the provision of professional services is recognised in full on delivery of the milestones set out within the contract.

TANGIBLE FIXED ASSETS

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

Fixtures and fittings

-

Straight line over 3 years

Computer equipment

-

Straight line over 3 years

IMPAIRMENT OF ASSETS

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

CLASSIFICATION OF FINANCIAL LIABILITIES

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 company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

EQUITY INSTRUMENTS

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no

longer at the discretion of the company.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

FOREIGN EXCHANGE

Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

SHARE BASED PAYMENTS

For cash-settled share-based payments, a liability is recognised for the goods and services acquired,measured initially at the fair value of the liability. At the balance sheet date until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognised in profit or loss for the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

1,173

20,108

21,281

Additions

-

4,877

4,877

Disposals

-

(8,715

)

(8,715

)

At 31 December 2025

1,173

16,270

17,443

DEPRECIATION

At 1 January 2025

521

17,835

18,356

Charge for year

412

2,453

2,865

Eliminated on disposal

-

(8,715

)

(8,715

)

At 31 December 2025

933

11,573

12,506

NET BOOK VALUE

At 31 December 2025

240

4,697

4,937

At 31 December 2024

652

2,273

2,925

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

473,424

544,816

Other debtors

1,425

27,152

Prepayments and accrued income

78,345

259,284

553,194

831,252

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

11,342

2,401

Taxation and social security

132,215

118,015

Other creditors

128,249

112,086

271,806

232,502

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

17,730

17,730

Between one and five years

48,403

72,604

66,133

90,334

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

1,234

-

Deferred

tax

£

Provided during year

1,234

Balance at 31 December 2025

1,234

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Hunter (Senior Statutory Auditor)

for and on behalf of S&W Audit

10.	RELATED PARTY DISCLOSURES

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.

11.	PARENT COMPANY

The directors consider Phillip Townsend Associates Inc. to be the immediate and ultimate parent company and the parent of the smallest and largest group for which consolidated financial statements are prepared which include the results of Phillip Townsend Associates Limited. The registered office of Phillip Townsend Associates Inc. is 7904 North Sam Houston Parkway East, Suite 600, Houston, Texas 77064, USA.