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Registered number: 10474537
Towill Brothers Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2025
Bickerstaffs
Unit 3D Guildford Rd Ind Est
Hayle
Cornwall
TR27 4QZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 10474537
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,500 7,000
Tangible Assets 5 228,682 157,271
232,182 164,271
CURRENT ASSETS
Stocks 6 22,311 11,342
Debtors 7 69,437 121,226
Cash at bank and in hand 220,688 118,373
312,436 250,941
Creditors: Amounts Falling Due Within One Year 8 (418,759 ) (224,928 )
NET CURRENT ASSETS (LIABILITIES) (106,323 ) 26,013
TOTAL ASSETS LESS CURRENT LIABILITIES 125,859 190,284
Creditors: Amounts Falling Due After More Than One Year 9 (90,585 ) (55,638 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (30,412 ) (21,820 )
NET ASSETS 4,862 112,826
CAPITAL AND RESERVES
Called up share capital 11 12 12
Profit and Loss Account 4,850 112,814
SHAREHOLDERS' FUNDS 4,862 112,826
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For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alexander Towill
Director
24 July 2026
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Towill Brothers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10474537 . The registered office is Red Cedars, Helfod Passage, Falmouth, Cornwall, TR11 5LB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 13 years on cost
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 10% straight line
Computer Equipment 33% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2024: 28)
28 28
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2024 35,000
As at 30 November 2025 35,000
Amortisation
As at 1 December 2024 28,000
Provided during the period 3,500
As at 30 November 2025 31,500
Net Book Value
As at 30 November 2025 3,500
As at 1 December 2024 7,000
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2024 161,636 60,836 42,811 120,180
Additions 35,293 33,713 48,895 24,420
As at 30 November 2025 196,929 94,549 91,706 144,600
Depreciation
As at 1 December 2024 80,497 37,276 21,349 90,553
Provided during the period 15,149 19,257 22,926 14,460
As at 30 November 2025 95,646 56,533 44,275 105,013
Net Book Value
As at 30 November 2025 101,283 38,016 47,431 39,587
As at 1 December 2024 81,139 23,560 21,462 29,627
Computer Equipment Total
£ £
Cost
As at 1 December 2024 3,977 389,440
Additions 2,770 145,091
As at 30 November 2025 6,747 534,531
Depreciation
As at 1 December 2024 2,494 232,169
Provided during the period 1,888 73,680
As at 30 November 2025 4,382 305,849
Net Book Value
As at 30 November 2025 2,365 228,682
As at 1 December 2024 1,483 157,271
6. Stocks
2025 2024
£ £
Finished goods 22,311 11,342
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 768 80
Other debtors 68,669 121,146
69,437 121,226
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 6,054 6,054
Trade creditors 109,051 27,571
Other loans 119,724 48,400
Other creditors 35,674 19,440
Taxation and social security 148,256 123,463
418,759 224,928
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 58,227 31,438
Other loans 32,358 24,200
90,585 55,638
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,054 6,054
Later than one year and not later than five years 58,227 31,438
64,281 37,492
64,281 37,492
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 12 12
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12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2024 Amounts advanced Amounts repaid Amounts written off As at 30 November 2025
£ £ £ £ £
Mr Alexander Towill 108,597 131,709 200,867 - 39,439
The above loan is unsecured, interest free and repayable on demand.
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