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REGISTERED NUMBER: 06534504 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

TOPSPOT SERVICES (MARSKE) LIMITED

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)






Contents of the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TOPSPOT SERVICES (MARSKE) LIMITED

Company Information
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D S Penny
Mr B Eastham





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 06534504 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Statement of Financial Position
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 213,014 212,079

CURRENT ASSETS
Stocks 5 100,819 97,623
Debtors 6 73,541 55,007
Cash at bank and in hand 330,047 409,589
504,407 562,219
CREDITORS
Amounts falling due within one year
(including convertible debt)

7

521,489

483,514
NET CURRENT (LIABILITIES)/ASSETS (17,082 ) 78,705
TOTAL ASSETS LESS CURRENT
LIABILITIES

195,932

290,784

PROVISIONS FOR LIABILITIES 8 8,868 2,591
NET ASSETS 187,064 288,193

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 187,060 288,189
SHAREHOLDERS' FUNDS 187,064 288,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Statement of Financial Position - continued
28 FEBRUARY 2023


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 1 November 2023 and were signed on its behalf by:





D S Penny - Director


TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Notes to the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Topspot Services (Marske) 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. 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 represents sales of goods and services net of VAT and trade discounts. Turnover is recognised when the goods or services are provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 50 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Land and building held and used in the Company's own activities for production and supply of goods or for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Depreciation on cost of buildings is charged to profit and loss. Depreciation on the revaluation amount on buildings is charged to the revaluation reserve, so as to write off their value less residual value, over their estimated useful life, using the straight line method.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Stocks
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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.

Operating lease
Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£ £ £ £
COST
At 1 March 2022 201,101 85,714 7,894 294,709
Additions - 16,971 - 16,971
At 28 February 2023 201,101 102,685 7,894 311,680
DEPRECIATION
At 1 March 2022 20,108 57,417 5,105 82,630
Charge for year 4,022 11,317 697 16,036
At 28 February 2023 24,130 68,734 5,802 98,666
NET BOOK VALUE
At 28 February 2023 176,971 33,951 2,092 213,014
At 28 February 2022 180,993 28,297 2,789 212,079

5. STOCKS
28/2/23 28/2/22
£ £
Stocks 100,819 97,623

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£ £
Trade debtors 53,457 38,753
Amounts owed by participating interests 14,991 14,991
Other debtors 5,093 1,263
73,541 55,007

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£ £
Trade creditors 375,332 357,500
Amounts owed to participating interests 69,817 69,817
Taxation and social security 70,253 49,853
Other creditors 6,087 6,344
521,489 483,514

8. PROVISIONS FOR LIABILITIES
28/2/23 28/2/22
£ £
Deferred tax
Accelerated capital allowances 8,868 2,591

Deferred tax
£
Balance at 1 March 2022 2,591
Provided during year 6,277
Balance at 28 February 2023 8,868

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28/2/23 28/2/22
value: £ £
4 Ordinary £1 4 4

10. RELATED PARTY DISCLOSURES

The amount included in debtors, amounts due within one year of £14,991 (2022: £14,991) is owed by related entity, Penny Petroleum Partnership 2.

The amount included in creditors, amounts due within one year of £69,817 (2022: £69,816) is owed to related entity, Topspot Services (Leeming) Limited £45,000 (2022: £45,000) and Penny Petroleum (Management) Limited £24,817 (2022 - £7,959).

Management charges of £47,000 (2022: £58,048) are paid to Penny Petroleum (Management) Limited.

All entities are under the common control of one of the directors.

Amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.