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REGISTERED NUMBER: 05089391 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Top Marques Alloy Wheel Refurbishers
Limited

Top Marques Alloy Wheel Refurbishers
Limited (Registered number: 05089391)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Top Marques Alloy Wheel Refurbishers
Limited (Registered number: 05089391)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,916 35,818
31,916 35,818

CURRENT ASSETS
Stocks 11,765 7,500
Debtors 6 60,736 75,114
Cash at bank and in hand 26,090 12,401
98,591 95,015
CREDITORS
Amounts falling due within one year 7 50,334 49,761
NET CURRENT ASSETS 48,257 45,254
TOTAL ASSETS LESS CURRENT LIABILITIES 80,173 81,072

CREDITORS
Amounts falling due after more than one year 8 (13,022 ) (22,364 )

PROVISIONS FOR LIABILITIES (7,133 ) (6,805 )
NET ASSETS 60,018 51,903

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59,918 51,803
SHAREHOLDERS' FUNDS 60,018 51,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Top Marques Alloy Wheel Refurbishers
Limited (Registered number: 05089391)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





Mr T W Parsons - Director


Top Marques Alloy Wheel Refurbishers
Limited (Registered number: 05089391)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Top Marques Alloy Wheel Refurbishers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05089391

Registered office: 39 Duke Street
Fenton
Stoke-On-Trent
Staffordshire
ST4 3PA

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.

Turnover
Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes an element of work completed but not yet invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Top Marques Alloy Wheel Refurbishers
Limited (Registered number: 05089391)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 7,500
AMORTISATION
At 1 April 2023
and 31 March 2024 7,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 103,415 11,285 114,700
Additions 1,604 - 1,604
At 31 March 2024 105,019 11,285 116,304
DEPRECIATION
At 1 April 2023 69,760 9,122 78,882
Charge for year 5,289 217 5,506
At 31 March 2024 75,049 9,339 84,388
NET BOOK VALUE
At 31 March 2024 29,970 1,946 31,916
At 31 March 2023 33,655 2,163 35,818

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,628 17,647
Other debtors 44,108 57,467
60,736 75,114

Top Marques Alloy Wheel Refurbishers
Limited (Registered number: 05089391)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,162 10,000
Trade creditors 1,503 6,799
Taxation and social security 27,964 14,375
Other creditors 9,705 18,587
50,334 49,761

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,022 22,364

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr T W Parsons
Balance outstanding at start of year (1,825 ) 9,975
Amounts advanced 66,370 71,312
Amounts repaid (49,546 ) (83,112 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,999 (1,825 )