Registration number: 05603780

Towler Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Towler Limited

(Registration number: 05603780)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	5	37,078	54,796
Tangible assets	6	49,594	55,382
		86,672	110,178
Current assets
Stocks	7	174,900	225,470
Debtors	8	154,228	8,425
Cash at bank and in hand		125,268	142,785
		454,396	376,680
Creditors: Amounts falling due within one year	9	(136,844)	(182,598)
Net current assets		317,552	194,082
Total assets less current liabilities		404,224	304,260
Provisions for liabilities		(9,423)	(12,976)
Net assets		394,801	291,284
Capital and reserves
Called up share capital		4,538	4,538
Retained earnings		390,263	286,746
Shareholders' funds		394,801	291,284

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 24 August 2026 and signed on its behalf by:
 

Towler Limited

(Registration number: 05603780)
Balance Sheet as at 31 March 2026

Mr J J Rushton Company secretary and director

Mrs S M Rushton Director

Mr P D Rushton Director

Towler Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 28-29 Shires Bridge Business Park
Easingwold
York
YO61 3WQ

These financial statements were authorised for issue by the Board on 24 August 2026.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Towler Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	10% and 33% straight line
Motor vehicles	25% reducing balance
Leasehold improvements	10% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line
Website	25% straight line

Towler Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2025 - 18).

4	Profit before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	8,986	8,615
Amortisation expense	11,193	18,985

Towler Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

5	Intangible assets

	Goodwill  £	Website £	Total £
Cost or valuation
At 1 April 2025	180,841	39,772	220,613
Disposals	(155,841)	-	(155,841)
At 31 March 2026	25,000	39,772	64,772
Amortisation
At 1 April 2025	151,816	14,001	165,817
Amortisation charge	1,250	9,943	11,193
Amortisation eliminated on disposals	(149,316)	-	(149,316)
At 31 March 2026	3,750	23,944	27,694
Carrying amount
At 31 March 2026	21,250	15,828	37,078
At 31 March 2025	29,025	25,771	54,796

Towler Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6	Tangible assets

	Leashold improvements £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	68,554	36,079	9,328	113,961
Additions	1,942	1,740	-	3,682
Disposals	(909)	-	-	(909)
At 31 March 2026	69,587	37,819	9,328	116,734
Depreciation
At 1 April 2025	22,299	27,133	9,147	58,579
Charge for the year	6,301	2,640	45	8,986
Eliminated on disposal	(425)	-	-	(425)
At 31 March 2026	28,175	29,773	9,192	67,140
Carrying amount
At 31 March 2026	41,412	8,046	136	49,594
At 31 March 2025	46,255	8,946	181	55,382

7

Stocks

	2026 £	2025 £
Finished goods and goods for resale	174,900	225,470

8

Debtors

Current	2026 £	2025 £
Prepayments	4,228	2,886
Other debtors	150,000	5,539
	154,228	8,425

Towler Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

9

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	10	83,583	90,370
Trade creditors		23,410	40,132
Taxation and social security		28,533	50,773
Other creditors		1,318	1,323
		136,844	182,598

10	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Other borrowings	83,583	90,370