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REGISTERED NUMBER: 07716811 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

TOPWELL MANAGEMENT LTD

TOPWELL MANAGEMENT LTD (REGISTERED NUMBER: 07716811)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TOPWELL MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: J Endzweig





REGISTERED OFFICE: 123 Clapton Common
London
E5 9AB





REGISTERED NUMBER: 07716811 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

TOPWELL MANAGEMENT LTD (REGISTERED NUMBER: 07716811)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,452 1,708
Investment property 6 443,925 400,000
445,377 401,708

CURRENT ASSETS
Debtors 7 2,976,151 2,687,928
Cash at bank and in hand 757,640 625,267
3,733,791 3,313,195
CREDITORS
Amounts falling due within one year 8 (354,714 ) (239,510 )
NET CURRENT ASSETS 3,379,077 3,073,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,824,454

3,475,393

CREDITORS
Amounts falling due after more than one
year

9

(259,322

)

(278,656

)

PROVISIONS FOR LIABILITIES (9,196 ) (9,196 )
NET ASSETS 3,555,936 3,187,541

CAPITAL AND RESERVES
Called up share capital 12 1 1
Fair value reserve 13 39,204 39,204
Retained earnings 13 3,516,731 3,148,336
SHAREHOLDERS' FUNDS 3,555,936 3,187,541

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

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

TOPWELL MANAGEMENT LTD (REGISTERED NUMBER: 07716811)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 and authorised for issue by the director and authorised for issue on 17 April 2024 and were signed by:





J Endzweig - Director


TOPWELL MANAGEMENT LTD (REGISTERED NUMBER: 07716811)

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

1. STATUTORY INFORMATION

Topwell Management Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover represent net profit rent receivable 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.
Fixtures and fittings - 15% on reducing balance

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 23 ) .

TOPWELL MANAGEMENT LTD (REGISTERED NUMBER: 07716811)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2022
and 31 July 2023 9,450
DEPRECIATION
At 1 August 2022 7,742
Charge for year 256
At 31 July 2023 7,998
NET BOOK VALUE
At 31 July 2023 1,452
At 31 July 2022 1,708

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 400,000
Additions 43,925
At 31 July 2023 443,925
NET BOOK VALUE
At 31 July 2023 443,925
At 31 July 2022 400,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2020 48,400
Cost 395,525
443,925

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 2,976,151 2,687,928

Other debtor includes amounts receivable from entities which are controlled by the director and his close family members. The loan is unsecured and repayable on demand.

TOPWELL MANAGEMENT LTD (REGISTERED NUMBER: 07716811)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 42,391 37,357
Taxation and social security 119,724 154,012
Other creditors 192,599 48,141
354,714 239,510

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans (see note 10) 230,224 239,770
Other creditors 29,098 38,886
259,322 278,656

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 239,770

Repayable by instalments
Bank loans more 5 yr by instal 230,224 -

Bank loan includes £29,098 [2022 - £38,886] Bounceback Loan (BBL) which is guaranteed by the UK government.

10. LOANS

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 29,098 38,886

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 239,770

Repayable by instalments
Bank loans more 5 yr by instal 230,224 -

TOPWELL MANAGEMENT LTD (REGISTERED NUMBER: 07716811)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 230,224 239,770

Bank loan is secured by the way fo first charge over the company's investment property.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1 Ordinary £1 1 1

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 August 2022 3,148,336 39,204 3,187,540
Profit for the year 390,395 390,395
Dividends (22,000 ) (22,000 )
At 31 July 2023 3,516,731 39,204 3,555,935

14. ULTIMATE CONTROLLING PARTY

The controlling party is J Endzweig.