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REGISTERED NUMBER: 11883763 (England and Wales)





















TOP WINDOW COVERING UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022






TOP WINDOW COVERING UK LIMITED (REGISTERED NUMBER: 11883763)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


TOP WINDOW COVERING UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: P Nelissen





REGISTERED OFFICE: 22-24 Harborough Road
Kingsthorpe
Northampton
Northamptonshire
NN2 7AZ





REGISTERED NUMBER: 11883763 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

TOP WINDOW COVERING UK LIMITED (REGISTERED NUMBER: 11883763)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,441 12,727

CURRENT ASSETS
Stocks 414,057 212,437
Debtors 5 163,702 94,512
Cash at bank 44,933 40,836
622,692 347,785
CREDITORS
Amounts falling due within one year 6 829,711 556,993
NET CURRENT LIABILITIES (207,019 ) (209,208 )
TOTAL ASSETS LESS CURRENT LIABILITIES (194,578 ) (196,481 )

CREDITORS
Amounts falling due after more than one
year

7

236,508

94,167
NET LIABILITIES (431,086 ) (290,648 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (431,186 ) (290,748 )
SHAREHOLDERS' FUNDS (431,086 ) (290,648 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 WINDOW COVERING UK LIMITED (REGISTERED NUMBER: 11883763)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





P Nelissen - Director


TOP WINDOW COVERING UK LIMITED (REGISTERED NUMBER: 11883763)

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


1. STATUTORY INFORMATION

Top Window Covering UK 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.

The company has made losses and at the Balance Sheet date there was a deficit on Shareholders' funds. The company is reliant on financial support provided by other members of the group in the form of loans and extended credit terms on goods supplied.

Trading conditions in 2022 were difficult as a result of the issues faced by the UK economy as a whole.

The Directors are however confident of the company's future trading prospects and the Group have confirmed they will continue to provide financial support to the company for the foreseeable future. The Directors have therefore prepared the financial statements on a going concern basis. The financial statements do not include any adjustments that would arise if the company were to cease trading.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on cost
Fixtures and fittings - 20% on cost

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

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.


TOP WINDOW COVERING UK LIMITED (REGISTERED NUMBER: 11883763)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Grants are accounted for under the accruals model as permitted by FRS102. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

TOP WINDOW COVERING UK LIMITED (REGISTERED NUMBER: 11883763)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2022 19,184 4,050 23,234
Additions 3,780 - 3,780
At 31 December 2022 22,964 4,050 27,014
DEPRECIATION
At 1 January 2022 8,414 2,093 10,507
Charge for year 3,256 810 4,066
At 31 December 2022 11,670 2,903 14,573
NET BOOK VALUE
At 31 December 2022 11,294 1,147 12,441
At 31 December 2021 10,770 1,957 12,727

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 107,300 66,407
Other debtors 6,762 100
VAT 6,310 15,287
Prepayments 43,330 12,718
163,702 94,512

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 53,453 30,285
Amounts owed to group undertakings 759,722 508,534
Social security and other taxes 5,632 6,171
Other creditors 904 2,003
829,711 556,993

TOP WINDOW COVERING UK LIMITED (REGISTERED NUMBER: 11883763)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 2-5 years 24,167 34,167
Amounts owed to group undertakings 212,341 60,000
236,508 94,167

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 46,250 46,250
Between one and five years 123,333 169,582
169,583 215,832

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary 1 100 100

10. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of Top Window Covering Group BV, a company incorporated in the Netherlands.

At the Balance Sheet date £972,063 (2021 - £568,534) was owed to other members of the group and trade creditors include £6,722 (2021 - £91) owing to other companies which are controlled by the shareholders of the parent company.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Nelissen.

The company's immediate parent company is Top Window Covering Europe BV. Its ultimate parent company is Top Window Covering Group BV. Both companies are incorporated in the Netherlands.