Registered number
12125837
Topheat Ltd
Filleted Accounts
31 August 2023
Topheat Ltd
Registered number: 12125837
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 27,656 8,807
Current assets
Stocks 4,000 1,000
Debtors 4 113,131 80,216
Cash at bank and in hand 69,495 82,978
186,626 164,194
Creditors: amounts falling due within one year 5 (58,875) (40,020)
Net current assets 127,751 124,174
Total assets less current liabilities 155,407 132,981
Creditors: amounts falling due after more than one year 6 (11,000) (17,000)
Net assets 144,407 115,981
Capital and reserves
Called up share capital 2 2
Profit and loss account 144,405 115,979
Shareholders' funds 144,407 115,981
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Oakey
Director
Approved by the board on 31 August 2024
Topheat Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 10,338 7,000 17,338
Additions 249 30,368 30,617
Disposals - (7,000) (7,000)
At 31 August 2023 10,587 30,368 40,955
Depreciation
At 1 September 2022 4,485 4,046 8,531
Charge for the year 1,221 7,593 8,814
On disposals - (4,046) (4,046)
At 31 August 2023 5,706 7,593 13,299
Net book value
At 31 August 2023 4,881 22,775 27,656
At 31 August 2022 5,853 2,954 8,807
4 Debtors 2023 2022
£ £
Trade debtors 71,123 52,691
Other debtors 42,008 27,525
113,131 80,216
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 17,320 12,000
Taxation and social security costs 31,654 19,010
Other creditors 3,901 3,010
58,875 40,020
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,000 17,000
7 Other information
Topheat Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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