TOWNGATE PLC

1. TOWNGATE PLC 1989-11-30 → present
2. DAVID SMITH (POULTRY EQUIPMENT) LIMITED 1969-06-26 → 1989-11-30

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Azets Audit Services Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have prepared cash flow forecasts which show the company is able to meet its cash requirements for at least the next 12 months. Based on these forecasts the Directors expect full compliance with the banking covenants.”

Significant events

• “During the year, Towngate successfully completed the development of six new industrial units at Walkden. This project has not only enhanced the overall quality of the portfolio but has also resulted in a valuation uplift of £1.76m, reflecting strong market demand and investor confidence in the asset. Three of the six units were leased during the year, demonstrating strong occupier demand, with the remaining units currently in advanced negotiations and expected to be under offer in the near term.”
• “In addition, our Cross Green asset has delivered a notable £3.4m revaluation increase, driven by both market momentum and active asset management initiatives undertaken during the period. While the outlook for rental uplifts across the estate was more cautious twelve months ago, recent leasing activity has achieved strong market-aligned rents. These transactions demonstrate ongoing demand for quality industrial space and confirm a material uplift in the estate's passing rent, reinforcing a more positive outlook for future rental growth across the portfolio.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +18.4%

  £3,290,000 → £3,894,000

• Cash

  +30.7%

  £1,108,000 → £1,448,000

• Net assets

  +12.6%

  £42,783,000 → £48,176,000

• Employees

  0%

  11 → 11

• Operating profit

  +94.4%

  £4,013,000 → £7,800,000

• Profit before tax

  +106%

  £3,437,000 → £7,080,000

• Wages

  -24.9%

  £1,782,000 → £1,339,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers