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REGISTERED NUMBER: 05327540 (England and Wales)


















TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022






TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED (REGISTERED NUMBER: 05327540)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2022







DIRECTORS: H Morgan
T P Morgan





SECRETARY: Mrs M Morgan





REGISTERED OFFICE: Unit 1
Ynyscedwyn Industrial Estate
Ystradgynlais
Swansea
West Glamorgan
SA9 1DT





REGISTERED NUMBER: 05327540 (England and Wales)





ACCOUNTANTS: Gerald Thomas
Chartered Accountants
3 New Mill Court
Swansea Enterprise Park
Swansea
SA7 9FG

TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED (REGISTERED NUMBER: 05327540)

BALANCE SHEET
31 JANUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 35,200 44,000
Tangible assets 6 93,198 102,034
128,398 146,034

CURRENT ASSETS
Stocks 95,488 30,078
Debtors 7 147,382 81,497
Cash at bank and in hand 29,188 20,868
272,058 132,443
CREDITORS
Amounts falling due within one year 8 372,190 279,040
NET CURRENT LIABILITIES (100,132 ) (146,597 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,266

(563

)

CREDITORS
Amounts falling due after more than one
year

9

116,319

138,353
NET LIABILITIES (88,053 ) (138,916 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (88,054 ) (138,917 )
SHAREHOLDERS' FUNDS (88,053 ) (138,916 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED (REGISTERED NUMBER: 05327540)

BALANCE SHEET - continued
31 JANUARY 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2022 and were signed on its behalf by:





H Morgan - Director


TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED (REGISTERED NUMBER: 05327540)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022


1. STATUTORY INFORMATION

Top Pops Wholesaler Of Soft Drinks 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The company is reliant on the continuing support of its bankers and directors. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis of accounting for the annual report and accounts.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.

Stock provisions
Stock holdings are assessed for indicators of obsolescence at each balance sheet date. If there is objective evidence of obsolescence, a provision is recognised in the income statement.

Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED (REGISTERED NUMBER: 05327540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


3. ACCOUNTING POLICIES - continued

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Revenue is recognised on the despatch of goods to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

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, 20% on reducing balance and 15% on reducing balance

Government grants
Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants towards revenue expenditure are released to the income statement as the related expenditure is incurred.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments that are classified as payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. Non current debt instruments are measured at amortised cost using the effective interest method.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the company, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.


TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED (REGISTERED NUMBER: 05327540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 15 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2021
and 31 January 2022 176,000
AMORTISATION
At 1 February 2021 132,000
Charge for year 8,800
At 31 January 2022 140,800
NET BOOK VALUE
At 31 January 2022 35,200
At 31 January 2021 44,000

TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED (REGISTERED NUMBER: 05327540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2021 198,331
Additions 3,917
At 31 January 2022 202,248
DEPRECIATION
At 1 February 2021 96,297
Charge for year 12,753
At 31 January 2022 109,050
NET BOOK VALUE
At 31 January 2022 93,198
At 31 January 2021 102,034

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 109,774 37,235
Other debtors 37,608 44,262
147,382 81,497

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 11,858 8,712
Hire purchase contracts 11,039 9,914
Trade creditors 247,736 181,803
Social security and other taxes 12,075 16,767
Pensions 732 587
VAT 8,406 29,009
Other creditors 75,315 26,881
Directors' current accounts 68 406
Accrued expenses 4,961 4,961
372,190 279,040

TOP POPS WHOLESALER OF SOFT DRINKS
LIMITED (REGISTERED NUMBER: 05327540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 11,858 8,712
Bank loans - 2-5 years 35,573 17,424
Bank loans more 5 yr by instal 53,139 85,429
Hire purchase contracts 15,749 26,788
116,319 138,353

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 53,139 85,429

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 112,428 120,277
Hire purchase contracts 26,788 36,702
139,216 156,979

The bank loans are secured on the assets of the company.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount owed to the directors at the balance sheet date is £67 (2021 - £406).The balance is unsecured, interest free and there are no fixed repayment terms. The balance is included within other creditors