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REGISTERED NUMBER: 03742989 (England and Wales)















3TS TOP TOOL TRADING COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






3TS TOP TOOL TRADING COMPANY LIMITED (REGISTERED NUMBER: 03742989)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


3TS TOP TOOL TRADING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr P.L. Grummitt



REGISTERED OFFICE: 15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



REGISTERED NUMBER: 03742989 (England and Wales)



ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BANKERS: HSBC Bank Plc
47 High Street
Bromsgrove
Worcestershire
B61 8AW

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
3TS TOP TOOL TRADING COMPANY LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 3Ts Top Tool Trading Company Limited for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of 3Ts Top Tool Trading Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 3Ts Top Tool Trading Company Limited and state those matters that we have agreed to state to the director of 3Ts Top Tool Trading Company Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 3Ts Top Tool Trading Company Limited and its director for our work or for this report.

It is your duty to ensure that 3Ts Top Tool Trading Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 3Ts Top Tool Trading Company Limited. You consider that 3Ts Top Tool Trading Company 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 financial statements of 3Ts Top Tool Trading Company 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 financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


22 December 2023

3TS TOP TOOL TRADING COMPANY LIMITED (REGISTERED NUMBER: 03742989)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,779 29,412
Investments 5 1,335,392 1,633,944
Investment property 6 3,010,358 3,010,358
4,370,529 4,673,714

CURRENT ASSETS
Debtors 7 367,629 377,443
Cash at bank 73,212 33,005
440,841 410,448
CREDITORS
Amounts falling due within one year 8 904,933 1,078,267
NET CURRENT LIABILITIES (464,092 ) (667,819 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,906,437

4,005,895

PROVISIONS FOR LIABILITIES 14,214 37,800
NET ASSETS 3,892,223 3,968,095

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Revaluation reserve 9 1,939,949 1,939,949
Fair value reserve 9 24,058 137,323
Retained earnings 1,927,116 1,889,723
SHAREHOLDERS' FUNDS 3,892,223 3,968,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

3TS TOP TOOL TRADING COMPANY LIMITED (REGISTERED NUMBER: 03742989)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 director and authorised for issue on 22 December 2023 and were signed by:





Mr P.L. Grummitt - Director


3TS TOP TOOL TRADING COMPANY LIMITED (REGISTERED NUMBER: 03742989)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

3Ts Top Tool Trading Company 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales less credit notes of goods/services, excluding value added tax.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3TS TOP TOOL TRADING COMPANY LIMITED (REGISTERED NUMBER: 03742989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 9,000 6,900 31,500 47,400
DEPRECIATION
At 1 April 2022 6,763 2,484 8,741 17,988
Charge for year 336 883 3,414 4,633
At 31 March 2023 7,099 3,367 12,155 22,621
NET BOOK VALUE
At 31 March 2023 1,901 3,533 19,345 24,779
At 31 March 2022 2,237 4,416 22,759 29,412

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in Other
undertakings associate investments Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022 750 55 1,633,139 1,633,944
Disposals (50 ) (5 ) (172,500 ) (172,555 )
Revaluations - - (125,997 ) (125,997 )
At 31 March 2023 700 50 1,334,642 1,335,392
NET BOOK VALUE
At 31 March 2023 700 50 1,334,642 1,335,392
At 31 March 2022 750 55 1,633,139 1,633,944

3TS TOP TOOL TRADING COMPANY LIMITED (REGISTERED NUMBER: 03742989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2023 is represented by:

Shares in Interest
group in Other
undertakings associate investments Totals
£    £    £    £   
Valuation in 2022 - - 169,168 169,168
Valuation in 2023 - - (137,091 ) (137,091 )
Cost 700 50 1,302,565 1,303,315
700 50 1,334,642 1,335,392

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 3,010,358
NET BOOK VALUE
At 31 March 2023 3,010,358
At 31 March 2022 3,010,358

Included in fair value of investment property is freehold land of £ 1,010,358 (2022 - £ 1,000,000 ) which is not depreciated.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2009 339,949
Valuation in 2021 1,600,000
Cost 1,070,409
3,010,358

If investment property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,070,409 1,060,051

Investment property was valued on an open market basis basis on 31 March 2021 by the director .

In the opinion of the director, the value of the investment property has not changed from the date of the last valuation.

3TS TOP TOOL TRADING COMPANY LIMITED (REGISTERED NUMBER: 03742989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 163,843 332,253
Other debtors 203,786 45,190
367,629 377,443

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 777,787 991,091
Taxation and social security 54,045 51,356
Other creditors 73,101 35,820
904,933 1,078,267

9. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 April 2022 1,939,949 137,323 2,077,272
Restatement to fair value - (113,265 ) (113,265 )

At 31 March 2023 1,939,949 24,058 1,964,007

10. RELATED PARTY DISCLOSURES

During the period, the company charged rent on its investment property to Tools of the Trade Limited, its subsidiary company, amounting to £155,000 (2022: £120,000). The company also charged consultancy of £21,920 (2022: £73,759) to Tools of the Trade Limited.

At the balance sheet date, the company owed the sum of £777,787 (2022: £991,091) to Tools of the Trade Limited.

The company also owns 50% of the share capital in EMS Evesham Motor Services Limited. At the balance sheet date the company was owed £163,843 (2022: £181,513) by EMS Evesham Motor Services Limited.

The company also owned 5% of the share capital in 3RPM Limited until 28 February 2023. At the balance sheet date the company was owed £136,747 (2022: £150,740) by 3RPM Limited.