Company registration number 00973334 (England and Wales)
TOWSE BROTHERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2026
PAGES FOR FILING WITH REGISTRAR
TOWSE BROTHERS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
TOWSE BROTHERS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
5 APRIL 2026
05 April 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
41,031
41,976
Current assets
Stocks
20,131
26,169
Debtors
5
96,544
91,528
116,675
117,697
Creditors: amounts falling due within one year
6
(477,953)
(490,573)
Net current liabilities
(361,278)
(372,876)
Total assets less current liabilities
(320,247)
(330,900)
Creditors: amounts falling due after more than one year
7
-
0
(2,000)
Net liabilities
(320,247)
(332,900)
Capital and reserves
Called up share capital
150,000
150,000
Profit and loss reserves
(470,247)
(482,900)
Total equity
(320,247)
(332,900)

For the financial year ended 5 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 August 2026 and are signed on its behalf by:
Mr S W Towse
Mr H Towse
Director
Director
Company registration number 00973334 (England and Wales)
2026-08-21
TOWSE BROTHERS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 5 APRIL 2026
05 April 2026
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Towse Brothers Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hall Farm, New Road, Holme on Spalding Moor, York, YO43 4BS. The company registration number is 00973334.

2.1
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.

2.2
Going concern

Although the company balance sheet has net liabilities at the year end, the directors consider that it is still appropriate to conclude the company is a going concern. This is due to the continued support of the company's bankers as a result of guarantees and security provided by the directors. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

2.3
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.

2.4
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:

Freehold land and buildings
nil
Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance

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.

TOWSE BROTHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2026
2
Accounting policies
(Continued)
- 3 -
2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

2.6
Stocks

The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.

In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at either;

- lower of cost and estimated selling price less costs to complete and sell; or

- fair value less costs to sell with any gain or loss arising on initial recognition of agricultural produce at fair value less costs to sell being included in profit or loss.

2.7
Cash and cash equivalents

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.

2.8
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 in the company's statement of financial position 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 debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

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 creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.9
Equity instruments

Equity instruments issued by the company are recorded at the 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.

2.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

TOWSE BROTHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2026
2
Accounting policies
(Continued)
- 4 -
2.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

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

2026
2025
Number
Number
Total
0
3
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 6 April 2025
75,034
101,211
2,614
178,859
Additions
-
0
1,611
-
0
1,611
At 5 April 2026
75,034
102,822
2,614
180,470
Depreciation
At 6 April 2025
45,097
90,282
1,504
136,883
Depreciation charged in the year
-
0
2,333
223
2,556
At 5 April 2026
45,097
92,615
1,727
139,439
Carrying amount
At 5 April 2026
29,937
10,207
887
41,031
At 5 April 2025
29,937
10,929
1,110
41,976
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
67,790
61,943
Other debtors
28,754
29,585
96,544
91,528
TOWSE BROTHERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2026
- 5 -
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
250,845
270,630
Trade creditors
76,418
74,688
Other creditors
150,690
145,255
477,953
490,573
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
-
0
2,000
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