REGISTERED NUMBER: 05682648 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2018

for

A & C Townley Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Townley

C J Townley

SECRETARY:

J Townley

REGISTERED OFFICE:

Sitch Farm

Monks Road

Glossop

Derbyshire

SK13 6JZ

REGISTERED NUMBER:

05682648 (England and Wales)

ACCOUNTANTS:

G Hurst & Co

25 Norfolk Street

Glossop

Derbyshire

SK13 7QU

FIXED ASSETS

Tangible assets

4

12,899

14,722

CURRENT ASSETS

Stocks

4,230

29,408

Debtors

5

56,876

31,869

Cash at bank

8,259

16,073

69,365

77,350

CREDITORS

Amounts falling due within one year

6

34,417

43,257

NET CURRENT ASSETS

34,948

34,093

TOTAL ASSETS LESS CURRENT LIABILITIES

47,847

48,815

PROVISIONS FOR LIABILITIES

6,190

9,386

NET ASSETS

41,657

39,429

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

41,457

39,229

SHAREHOLDERS' FUNDS

41,657

39,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 July 2018 and were signed on its behalf by:

A J Townley - Director

C J Townley - Director

1.	STATUTORY INFORMATION

A & C Townley Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2017

28,500

32,025

1,977

62,502

Additions

1,137

-

-

1,137

At 31 January 2018

29,637

32,025

1,977

63,639

DEPRECIATION

At 1 February 2017

19,622

26,402

1,756

47,780

Charge for year

1,500

1,405

55

2,960

At 31 January 2018

21,122

27,807

1,811

50,740

NET BOOK VALUE

At 31 January 2018

8,515

4,218

166

12,899

At 31 January 2017

8,878

5,623

221

14,722

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade debtors

56,876

24,496

Other debtors

-

7,373

56,876

31,869

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade creditors

12,039

30,067

Tax

3,294

10,856

VAT

375

-

Proposed dividends

4,378

-

Other creditors

2,275

2,278

Directors' current accounts

56

56

Accrued expenses

12,000

-

34,417

43,257