Company Registration No. 12336239 (England and Wales)
TOPSTOKE HOMES LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TOPSTOKE HOMES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,500
Current assets
Debtors
4
15,348
15,301
Cash at bank and in hand
5
446
15,353
15,747
Creditors: amounts falling due within one year
5
(110,675)
(116,714)
Net current liabilities
(95,322)
(100,967)
Total assets less current liabilities
(95,322)
(99,467)
Creditors: amounts falling due after more than one year
6
(18,476)
(21,758)
Net liabilities
(113,798)
(121,225)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(113,800)
(121,227)
Total equity
(113,798)
(121,225)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
TOPSTOKE HOMES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
2
The financial statements were approved and signed by the director and authorised for issue on 29 August 2024
Mr P Rouse
Director
Company registration number 12336239 (England and Wales)
TOPSTOKE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
3
1
Accounting policies
Company information
Topstoke Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Stoke Common Road, Bishopstoke, Eastleigh, SO50 6DW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director has a reasonable expectation that the company will become profitable and continue in operational existence for the foreseeable future. The company is reliant on the continued support of its director and has received assurances that the director will continue to provide financial support for a period of at least 12 months from the date of signing these accounts.The director therefore considers it appropriate to prepare the accounts on a going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
TOPSTOKE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies (Continued)
4
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
TOPSTOKE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
5
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 and 30 November 2023
6,000
Depreciation and impairment
At 1 December 2022
4,500
Depreciation charged in the year
1,500
At 30 November 2023
6,000
Carrying amount
At 30 November 2023
At 30 November 2022
1,500
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,047
1,000
TOPSTOKE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
4
Debtors (Continued)
6
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
14,301
14,301
Total debtors
15,348
15,301
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,037
2,778
Taxation and social security
20,688
20,688
Other creditors
86,950
93,248
110,675
116,714
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
18,476
21,758
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
6,327
10,647