1 7 August 2026 false false false false false false false false false false true false false false false false false No description of principal activity 2025-02-01 Sage Accounts Production Advanced 2024 - FRS102_2024 311,500 311,500 311,500 xbrli:pure xbrli:shares iso4217:GBP 11961178 2025-02-01 2026-01-31 11961178 2026-01-31 11961178 2025-01-31 11961178 2024-02-01 2025-01-31 11961178 2025-01-31 11961178 2024-01-31 11961178 bus:Director3 2025-02-01 2026-01-31 11961178 core:WithinOneYear 2026-01-31 11961178 core:WithinOneYear 2025-01-31 11961178 core:ShareCapital 2026-01-31 11961178 core:ShareCapital 2025-01-31 11961178 core:RetainedEarningsAccumulatedLosses 2026-01-31 11961178 core:RetainedEarningsAccumulatedLosses 2025-01-31 11961178 core:LandBuildings core:OwnedOrFreeholdAssets 2026-01-31 11961178 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-31 11961178 bus:Director1 2025-02-01 2026-01-31 11961178 bus:SmallEntities 2025-02-01 2026-01-31 11961178 bus:Audited 2025-02-01 2026-01-31 11961178 bus:SmallCompaniesRegimeForAccounts 2025-02-01 2026-01-31 11961178 bus:PrivateLimitedCompanyLtd 2025-02-01 2026-01-31 11961178 bus:FullAccounts 2025-02-01 2026-01-31
COMPANY REGISTRATION NUMBER: 11961178

Towey Homes Limited

Filleted Financial Statements

31 January 2026

Towey Homes Limited

Statement of Financial Position

31 January 2026

| 2026 | 2025
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 311,500 | 311,500

Current assets

Stocks | 1,840,358 |  | 1,750,101
Debtors | 6 | 4,139 |  | 33,500
Investments | 7 | 1,000,000 |  | –
Cash at bank and in hand | 870,625 |  | 1,688,390
| ------------ |  | ------------
| 3,715,122 |  | 3,471,991

Creditors: amounts falling due within one year | 8 | 3,407,191 |  | 3,339,134
| ------------ |  | ------------
Net current assets |  | 307,931 | 132,857
|  | --------- | ---------
Total assets less current liabilities |  | 619,431 | 444,357
|  | --------- | ---------
Net assets |  | 619,431 | 444,357
|  | --------- | ---------

Capital and reserves

Called up share capital |  | 3 | 3
Profit and loss account |  | 619,428 | 444,354
|  | --------- | ---------
Shareholders funds |  | 619,431 | 444,357
|  | --------- | ---------

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.
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.
These financial statements were approved by the board of directors and authorised for issue on 7 August 2026 , and are signed on behalf of the board by:

Mrs L Roberts
Director

Company registration number: 11961178

Towey Homes Limited

Notes to the Financial Statements

Year ended 31 January 2026
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Gladstone House, 373 Haydn Road, Sherwood, Nottingham, NG5 1DZ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue is recognised at legal completion in respect of the total proceeds of building and development. Revenue is measured at the fair value of consideration received or receivable and represents the amounts receivable for the property, net of discounts and VAT.
Taxation
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost of work in progress comprises direct materials, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition. Land held for development, including land during development, is recorded at cost. When completed plots are sold a proportion of the land cost based on the size of the plot is expensed as a cost of sale.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2025: 1 ).
5. Tangible assets

| Freehold property
| £
Cost |
At 1 February 2025 and 31 January 2026 | 311,500
| ---------
Depreciation |
At 1 February 2025 and 31 January 2026 | –
| ---------
Carrying amount |
At 31 January 2026 | 311,500
| ---------
At 31 January 2025 | 311,500
| ---------

6. Debtors

| 2026 | 2025
| £ | £
Other debtors | 4,139 | 33,500
| ------- | --------

7. Investments

| 2026 | 2025
| £ | £
Short-term deposits | 1,000,000 | –
| ------------ | ----

8. Creditors: amounts falling due within one year

| 2026 | 2025
| £ | £
Trade creditors | 204,009 | 82,294
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 3,125,070 | 3,125,070
Corporation tax | 58,358 | –
Social security and other taxes | 1,765 | 1,291
Other creditors | 17,989 | 130,479
| ------------ | ------------
| 3,407,191 | 3,339,134
| ------------ | ------------

9. Contingencies
Agreements related to building or performance guarantees have been entered into in the normal course of business. The directors are taking proactive action to ensure the company's obligations under these agreements are met. Management consider the possibility of a cash outflow in settlement to be remote.
10. Summary audit opinion
The auditor's report dated 7 August 2026 was unqualified .
The senior statutory auditor was Russell Eley FCCA , for and on behalf of Xeinadin Audit Limited .
11. Controlling party
The company is a wholly owned subsidiary of P J Towey Holdings Limited, a company registered in England & Wales. The registered office of the parent company is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.