A. J. Towey Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05463991 (England and Wales)

A. J. Towey Services Limited

Unaudited Financial Statements

for the Year Ended 31 May 2020

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Ms S.J. Burton

Mr A.J. Towey

SECRETARY:

Ms S.J. Burton

REGISTERED OFFICE:

13 The Courtyard

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NP

REGISTERED NUMBER:

05463991 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Intangible assets

4

6,000

8,000

Tangible assets

5

49,350

58,116

55,350

66,116

CURRENT ASSETS

Stocks

4,100

5,500

Debtors

6

1,750

3,638

Cash at bank

13,838

1,102

19,688

10,240

CREDITORS

Amounts falling due within one year

7

44,216

62,590

NET CURRENT LIABILITIES

(24,528

)

(52,350

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,822

13,766

CREDITORS

Amounts falling due after more than one year

8

(3,103

)

(3,177

)

PROVISIONS FOR LIABILITIES

(8,870

)

(10,425

)

NET ASSETS

18,849

164

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

18,847

162

18,849

164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2021 and were signed on its behalf by:

Ms S.J. Burton - Director

Mr A.J. Towey - Director

1.	STATUTORY INFORMATION

A. J. Towey Services 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2019

and 31 May 2020

10,000

AMORTISATION

At 1 June 2019

2,000

Charge for year

2,000

At 31 May 2020

4,000

NET BOOK VALUE

At 31 May 2020

6,000

At 31 May 2019

8,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2019

and 31 May 2020

94,725

6,600

347

101,672

DEPRECIATION

At 1 June 2019

37,099

6,140

317

43,556

Charge for year

8,644

115

7

8,766

At 31 May 2020

45,743

6,255

324

52,322

NET BOOK VALUE

At 31 May 2020

48,982

345

23

49,350

At 31 May 2019

57,626

460

30

58,116

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,750

3,638

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

17,454

16,284

Taxation and social security

4,967

4,847

Other creditors

21,795

41,459

44,216

62,590

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

3,103

3,177