Towngate Holdings Limited |
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Towngate Holdings Limited for the year ended 30 September 2015 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Towngate Holdings Limited for the year ended 30 September 2015 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
This report is made solely to the Board of Directors of Towngate Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 1 April 2013. Our work has been undertaken solely to prepare for your approval the accounts of Towngate Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Towngate Holdings Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Towngate Holdings Limited and its Board of Directors as a body for our work or for this report. |
It is your duty to ensure that Towngate Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Towngate Holdings Limited. You consider that Towngate Holdings Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the accounts of Towngate Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
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David Watson |
Chartered Accountants |
Knoll Farm |
Aston, Hope |
Hope Valley |
Derbyshire |
S33 6RA |
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28 October 2015 |
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Towngate Holdings Limited
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Notes to the Accounts |
for the year ended 30 September 2015
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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2 |
Debtors |
2015 |
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2014 |
£ |
£ |
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Margery Hill Limited |
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110,428 |
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110,428 |
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Nesthill Limited |
176 |
|
176 |
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|
|
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110,604 |
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110,604 |
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3 |
Share capital |
Nominal |
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2015 |
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2015 |
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2014 |
value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares
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£1 each |
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50,000 |
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50,000 |
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50,000 |
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4 |
Profit and loss account |
2015 |
£ |
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At 1 October 2014 |
60,604 |
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At 30 September 2015 |
60,604 |
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5 |
Contingent liabilities |
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The bank loans and overdrafts of companies in the Margery Hill Limited Group are secured by fixed charges over the assets of the various companies and a cross guarantee between the various subsidiary companies and Margery Hill Limited. At 30 September 2015 the amount of the bank balances less loans and overdrafts was £230,796 in hand (2014 - £60,754 in hand). |
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6 |
Ultimate controlling party |
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The whole of the allotted share capital is held by Margery Hill Limited, a company registered in England.
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