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Registration number: 07421185

Topcon Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Topcon Construction Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Topcon Construction Limited

(Registration number: 07421185)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

20,554

30,947

Current assets

 

Debtors

5

25,393

14,846

Cash at bank and in hand

 

9,861

125,946

 

35,254

140,792

Creditors: Amounts falling due within one year

6

(40,727)

(131,245)

Net current (liabilities)/assets

 

(5,473)

9,547

Total assets less current liabilities

 

15,081

40,494

Provisions for liabilities

(5,140)

(5,880)

Net assets

 

9,941

34,614

Capital and reserves

 

Called up share capital

7

99

99

Retained earnings

9,842

34,515

Shareholders' funds

 

9,941

34,614

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 April 2024 and signed on its behalf by:
 

.........................................
Mr J L Clark
Director

 

Topcon Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
35 Louth Road
Scartho
Grimsby
North East Lincs
DN33 2HP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling to the nearest whole pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of Companies Act 2006 and has not prepared group accounts..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Topcon Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction , less estimated residual value over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

16% Reducing Balance

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2022 - 3).

 

Topcon Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

80,069

80,069

At 31 December 2023

80,069

80,069

Depreciation

At 1 January 2023

49,122

49,122

Impairment

10,393

10,393

At 31 December 2023

59,515

59,515

Carrying amount

At 31 December 2023

20,554

20,554

At 31 December 2022

30,947

30,947

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

3,750

-

Other debtors

 

21,643

14,846

   

25,393

14,846

 

Topcon Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

18,968

28,619

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

19,009

-

Taxation and social security

 

-

7,126

Accruals and deferred income

 

2,750

95,500

 

40,727

131,245

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

99

99

99

99

         

8

Parent and ultimate parent undertaking

The Company's immediate parent is Topcon Construction Holdings Limited, incorporated in United Kingdom.

 The ultimate controlling party is the directors.