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REGISTERED NUMBER: 03384184 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

TOPFLING LTD

TOPFLING LTD (REGISTERED NUMBER: 03384184)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TOPFLING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Y Lock
A E Brinner





SECRETARY: Y Lock





REGISTERED OFFICE: 115 Craven Park Road
Stamford Hill
London
N15 6BL





REGISTERED NUMBER: 03384184 (England and Wales)





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

TOPFLING LTD (REGISTERED NUMBER: 03384184)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 40,974 48,341
Investment property 5 27,449,759 27,246,682
27,490,733 27,295,023

CURRENT ASSETS
Debtors 6 4,645,992 4,862,246
Cash at bank 54,982 108,116
4,700,974 4,970,362
CREDITORS
Amounts falling due within one year 7 (6,384,320 ) (6,449,238 )
NET CURRENT LIABILITIES (1,683,346 ) (1,478,876 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,807,387

25,816,147

CREDITORS
Amounts falling due after more than one
year

8

(13,138,900

)

(13,521,624

)

PROVISIONS FOR LIABILITIES (1,399,750 ) (1,399,750 )
NET ASSETS 11,268,737 10,894,773

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 7,367,107 7,367,107
Retained earnings 11 3,901,628 3,527,664
SHAREHOLDERS' FUNDS 11,268,737 10,894,773

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

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

TOPFLING LTD (REGISTERED NUMBER: 03384184)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 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 16 August 2024 and were signed on its behalf by:





A E Brinner - Director


TOPFLING LTD (REGISTERED NUMBER: 03384184)

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

1. STATUTORY INFORMATION

Topfling 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. 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 rent receivable, excluding value added tax.

Depreciation
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
Computer equipment - 33% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

TOPFLING LTD (REGISTERED NUMBER: 03384184)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 275,377 11,306 286,683
DEPRECIATION
At 1 September 2022 227,682 10,660 238,342
Charge for year 7,154 213 7,367
At 31 August 2023 234,836 10,873 245,709
NET BOOK VALUE
At 31 August 2023 40,541 433 40,974
At 31 August 2022 47,695 646 48,341

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 27,246,682
Additions 203,077
At 31 August 2023 27,449,759
NET BOOK VALUE
At 31 August 2023 27,449,759
At 31 August 2022 27,246,682

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2018 7,367,107
Cost 20,082,652
27,449,759

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 4,645,992 4,862,246

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Taxation and social security 281,795 304,655
Other creditors 6,102,525 6,144,583
6,384,320 6,449,238

TOPFLING LTD (REGISTERED NUMBER: 03384184)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 13,104,232 13,489,275
Other creditors 34,668 32,349
13,138,900 13,521,624

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 13,104,232 13,489,275
Other loans more 5yrs instal 34,668 32,349
13,138,900 13,521,624

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 13,104,232 13,489,275

Bank loans and overdrafts are secured by way of first charge over the company's investment properties.

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
2 Share capital 1 £1 2 2

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 September 2022 3,527,664 7,367,107 10,894,771
Profit for the year 449,964 449,964
Dividends (76,000 ) (76,000 )
At 31 August 2023 3,901,628 7,367,107 11,268,735