Registration number:
Lewis & Towers Limited
for the Year Ended 31 December 2025
Lewis & Towers Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Lewis & Towers Limited
Company Information
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Directors |
RJ Newman E A Pickering |
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Company secretary |
AS Harrison |
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Registered office |
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Auditors |
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Lewis & Towers Limited
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Fair review of the business
Results for the year
Turnover for the year ended 31 December 2025 was £42,629,000 (2024: £43,492,000) a decrease compared with the previous year. The profit before taxation was £835,000 (2024: £852,000).
The company's key financial and other performance indicators during the year were as follows:
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2025 |
2024 |
||
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Sales |
£'000 |
42,629 |
43,492 |
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Gross profit |
% |
3 |
3 |
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Stock |
£'000 |
270 |
469 |
Principal risks and uncertainties
The directors review and agree policies for managing each of these risks and they are summarised below.
Energy costs – prices are monitored on a daily basis and forward contracts negotiated where appropriate with key suppliers.
Pension funding – the company maintains a defined benefit pension scheme, which was closed to new entrants. Volatility of financial markets can affect the value of assets in the scheme and may result in the need to increase contributions to the scheme, with a consequent reduction in operating cash flows available for future investment in the business.
Insurance – the company endeavours to maintain adequate insurance levels for all appropriate insurable risks.
Major disruption / disaster – business continuity planning is reviewed regularly.
Competitive risk – the company is exposed to competitive risk in the market in which it operates. The company constantly monitors prices and undertakes regular market research to mitigate these risks.
Regulatory changes – the company monitors forthcoming and current legislation and ensures compliance.
Financial risk - the company uses financial instruments, including derivatives, comprising overdrafts, cash and other liquid resources and various other items such as trade debtors and creditors that arise directly from its operations. The main risks arising from the company's financial instruments are interest rate risk, liquidity risk and currency risk. The directors review and agree policies for managing each of these risks and they are summarised below.
Lewis & Towers Limited
Strategic Report for the Year Ended 31 December 2025
Liquidity risk - the company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest any cash assets safely and profitably. Short term flexibility is achieved by overdraft facilities. Debt is structured so repayments can be made out of cash generated through operations.
Approved and authorised by the
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Lewis & Towers Limited
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
Principal activity
The principal activity of the company is the production of glass bottles and jars for the pharmaceutical, food and drinks industries.
Dividends
The directors do not recommend the payment of a dividend for the current year (2024: £nil).
Directors of the company
The directors who held office during the year were as follows:
Future developments
The company is continuing to listen to its customers and work with them to bring to the market high quality, distinctive products. The volatility of the global economic situation will make 2026 another year of challenges and opportunities.
Research and development
The company is committed to various projects to increase the efficiency and productivity of the manufacturing facility in Rotherham, including the design and production of lightweight containers, which use less material in their production but retain the integrity of the original container.
Employee involvement
The directors attach the greatest importance to the development of employee involvement throughout the company based on good communications and working relationships. Consultation takes place through normal contacts with departments and in meetings at all levels of employees to assist the employees to become more aware of the financial and economic factors affecting the performance of the company.
Employment of disabled persons
The company gives equal opportunities to disabled persons wherever possible both in recruitment and career development.
Environmental matters
Streamlined Energy and Carbon Reporting
Under The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, together with the accompanying government guidance ‘Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance March 2019’, the company is entitled to take exemption from reporting on its energy consumption.
This information is instead reported at consolidated level in the financial statements of the company’s ultimate parent, Newship Group Limited.
Lewis & Towers Limited
Directors' Report for the Year Ended 31 December 2025
Disclosure of information to the auditors
Each director has taken all steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware of.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Cooper Parry Group Limited as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Approved and authorised by the
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Lewis & Towers Limited
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Lewis & Towers Limited
Independent Auditor's Report to the Members of Lewis & Towers Limited
Opinion
We have audited the financial statements of Lewis & Towers Limited (the 'company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Lewis & Towers Limited
Independent Auditor's Report to the Members of Lewis & Towers Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 6, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Lewis & Towers Limited
Independent Auditor's Report to the Members of Lewis & Towers Limited
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.
During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation.
Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Lewis & Towers Limited
Independent Auditor's Report to the Members of Lewis & Towers Limited
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
Broadwalk House
5th Floor
5 Appold St
EC2A 2AG
Lewis & Towers Limited
Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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|
Turnover |
|
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|
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Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
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|
Other operating income |
|
|
|
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Operating profit |
836 |
852 |
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|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
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Lewis & Towers Limited
Statement of Comprehensive Income for the Year Ended 31 December 2025
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2025 |
2024 |
||
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Profit for the year |
|
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|
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Total comprehensive income for the year |
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Lewis & Towers Limited
(Registration number: 169343)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Current assets |
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Stocks |
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Debtors |
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
38 |
38 |
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|
Capital redemption reserve |
2 |
2 |
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Retained earnings |
4,467 |
3,840 |
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Shareholders' funds |
4,507 |
3,880 |
Approved and authorised by the
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Lewis & Towers Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 January 2024 |
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|
|
|
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Profit for the year |
- |
- |
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At 31 December 2024 |
38 |
2 |
3,840 |
3,880 |
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 January 2025 |
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|
|
|
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Profit for the year |
- |
- |
|
|
|
At 31 December 2025 |
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Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital incorporated and domiciled in England and Wales.
The address of its registered office and principal place of business is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
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, including the provisions of the Large and Medium-sized Companies (Accounts and Reports) Regulations 2008, and under the historical cost convention, modified to include investment properties and certain financial instruments at fair value.
These financial statements are presented in sterling which is also the functional currency of the company.
Summary of disclosure exemptions
The company has taken advantage of the exemption from the following information, as permitted by the reduced disclosure regime within FRS 102:
Section 7 'Statement of Cash Flows' - Presentation of a Statement of Cash Flow and related notes and disclosures.
Section 11 'Basic Financial Instruments' & Section 12 'Other Financial Instruments Issues' Carrying amounts for financial instruments measured at amortised cost or cost less impairment, interest income/expense and net gains/losses for financial instruments measured at amortised cost, loan defaults or breaches, and descriptions of hedging relationships.
Section 33 'Related Party Disclosures' - Compensation for key management personnel.
Name of parent of group
These financial statements are consolidated in the financial statements of Newship Group Limited.
The financial statements of Newship Group Limited may be obtained from Fernside Place, 179 Queens Road, Weybridge, Surrey, KT13 0AH.
Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Going concern
At the time of approving the financial statements, based on trading results, future cash flow forecasts, and the significant amount of unencumbered assets in the group, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from time of approval. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Critical accounting estimates and assumptions |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. |
Key sources of estimation uncertainty
Defined benefit pension scheme
The scheme liabilities can be sensitive to changes in the assumptions. However, following the purchase of the buy-in policies, any change to the liabilities due to changes in assumptions will be matched by an equal and offsetting change in the value of the Scheme’s assets.
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 and after eliminating sales within the company.
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 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.
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.
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.
Financial instruments
Financial assets
Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Financial liabilities and equity
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
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.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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.
Defined benefit pension obligation
Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
The company has a defined benefit scheme. The defined benefit scheme is funded, with the assets held separately from the company in separate trustee-administered funds. The pension scheme assets and liabilities are measured based on an estimate made by management. This estimate is based on the triennial funding assessments performed by a qualified actuary for the benefit of the trustees of the scheme and takes into account actual performance experience of the other defined benefit pension schemes operated by the wider Newship group.
A pension scheme liability is recognised to the extent that the company has a legal or constructive obligation to settle the liability and as an asset recognised where the company has a right to recover monies from the scheme.
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Turnover |
The analysis of the company's revenue for the year from continuing operations is as follows:
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2025 |
2024 |
|
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Sale of goods |
|
|
The analysis of the company's turnover for the year by market is as follows:
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2025 |
2024 |
|
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UK |
|
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
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2025 |
2024 |
|
|
Miscellaneous other operating income |
|
|
|
Operating profit |
Arrived at after charging
|
2025 |
2024 |
|
|
Operating lease expense - plant and machinery |
|
|
|
Audit of the financial statements |
5 |
5 |
Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Staff |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The staff are paid by Beatson Clark Limited for administrative purposes as many are members of that company's defined benefit pension scheme. The costs associated with the staff are recharged by Beatson Clark Limited to the company on a quarterly basis.
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
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2025 |
2024 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
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Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Total tax charge |
|
|
Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Stocks |
|
2025 |
2024 |
|
|
Raw materials and consumables |
|
|
|
Debtors |
|
Current |
2025 |
2024 |
|
|
Amounts owed by related parties |
|
|
|
|
|
|
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Creditors |
|
2025 |
2024 |
||
|
Due within one year |
|||
|
Amounts due to group undertakings |
|
|
|
|
Corporation tax liability |
93 |
114 |
|
|
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Defined benefit pension schemes
The company operates a defined benefit pension scheme in the UK. A funding assessment was performed as at 1 December 2018 for the pension scheme trustees by a qualified actuary. The company has not updated the FRS102 valuation for the year to 31 December 2025 due to the fact that the scheme continues to have a non recoverable surplus which under the current reporting standards is not reportable, and so the directors believe it is immaterial to these accounts.
Reconciliation of scheme assets and liabilities to assets and liabilities recognised
The amounts recognised in the statement of financial position are as follows:
|
2025 |
2024 |
|
|
Fair value of scheme assets |
|
|
|
Present value of defined benefit obligation |
( |
( |
|
483 |
483 |
|
|
Other amounts not recognised in the Balance Sheet |
(483) |
(483) |
|
Defined benefit pension scheme surplus/(deficit) |
- |
- |
Defined benefit obligation
Changes in the defined benefit obligation are as follows:
|
2025 |
|
|
Present value at start and end of the year |
|
Fair value of scheme assets
Changes in the fair value of scheme assets are as follows:
|
2025 |
|
|
Fair value at start and end of the year |
|
Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Analysis of assets
The major categories of scheme assets are as follows:
|
2025 |
2024 |
|
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Equity instruments |
|
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Debt instruments |
|
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The pension scheme has not invested in any of the company's own financial instruments or in properties or other assets used by the company.
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Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. 000 |
£ 000 |
No. 000 |
£ 000 |
|
|
|
|
38 |
|
38 |
Rights, preferences and restrictions
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Ordinary shares have the following rights, preferences and restrictions: |
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Reserves |
Profit and loss
The profit and loss account is made up of retained profits of the company.
Capital redemption reserve
The nominal value of shares repurchased by the company.
Lewis & Towers Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2025 |
2024 |
|
|
Not later than one year |
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Contingent liabilities |
The Company is part of an unlimited composite company bank guarantee agreement to secure and cross-guarantee the liabilities of each of the other company's. The co signatories are Beatson Clark Limited, James Gibbons Format Limited, Pont Packaging BV and Newship Limited. This arrangement came to an end in January 2025.
The company is part of a VAT group with Beatson Clark Limited. At the year end, the companies potential exposure under this arrangement is equal to the VAT creditor in Beatson Clark Limited.
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The smallest group for which consolidated accounts including Lewis and Towers Limited are prepared is Newship Limited. The most senior parent entity producing publicly available financial statements is