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REGISTERED NUMBER: 03567050 (England and Wales)















TOPSTREAM PROPERTIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






TOPSTREAM PROPERTIES LIMITED (REGISTERED NUMBER: 03567050)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOPSTREAM PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M R Eckersley
Mrs M Eckersley





SECRETARY: M R Eckersley





REGISTERED OFFICE: Unit 1 Digital House Peak
Business Park
Foxwood Road
Chesterfield
S41 9RF





REGISTERED NUMBER: 03567050 (England and Wales)





ACCOUNTANTS: Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF

TOPSTREAM PROPERTIES LIMITED (REGISTERED NUMBER: 03567050)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,941 789
Investment property 5 1,350,000 977,499
1,352,941 978,288

CURRENT ASSETS
Debtors 6 1,812 4,888
Cash at bank 13,750 40,098
15,562 44,986
CREDITORS
Amounts falling due within one year 7 148,018 227,872
NET CURRENT LIABILITIES (132,456 ) (182,886 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,220,485

795,402

CREDITORS
Amounts falling due after more than one
year

8

(7,500

)

-

PROVISIONS FOR LIABILITIES (736 ) (200 )
NET ASSETS 1,212,249 795,202

TOPSTREAM PROPERTIES LIMITED (REGISTERED NUMBER: 03567050)

BALANCE SHEET - continued
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 9 372,501 -
Retained earnings 838,748 794,202
1,212,249 795,202

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

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

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 23 August 2024 and were signed on its behalf by:





M R Eckersley - Director


TOPSTREAM PROPERTIES LIMITED (REGISTERED NUMBER: 03567050)

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


1. STATUTORY INFORMATION

Topstream Properties Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable for rents received net of VAT and trade discounts.

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 - 20% on cost
Computer equipment - 25% on reducing balance

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are 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 balance sheet date.


TOPSTREAM PROPERTIES LIMITED (REGISTERED NUMBER: 03567050)

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


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 22,312 868 23,180
Additions 382 2,175 2,557
At 31 December 2023 22,694 3,043 25,737
DEPRECIATION
At 1 January 2023 22,045 346 22,391
Charge for year 138 267 405
At 31 December 2023 22,183 613 22,796
NET BOOK VALUE
At 31 December 2023 511 2,430 2,941
At 31 December 2022 267 522 789

TOPSTREAM PROPERTIES LIMITED (REGISTERED NUMBER: 03567050)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 977,499
Revaluations 372,501
At 31 December 2023 1,350,000
NET BOOK VALUE
At 31 December 2023 1,350,000
At 31 December 2022 977,499

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2001 90,393
Valuation in 2004 197,785
Valuation in 2006 3,252
Valuation in 2014 (458,419 )
Valuation in 2023 372,501
Cost 1,144,488
1,350,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 31 -
Other debtors 1,781 4,888
1,812 4,888

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 39,453
Trade creditors 128 4,058
Taxation and social security 11,104 15,856
VAT 4,342 3,967
Other creditors 132,444 164,538
148,018 227,872

TOPSTREAM PROPERTIES LIMITED (REGISTERED NUMBER: 03567050)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 7,500 -

9. RESERVES
Revaluation
reserve
£   
Transfer 372,501

At 31 December 2023 372,501

10. RELATED PARTY DISCLOSURES

Included within Other creditors are amounts owed to directors totalling £103,997 (2022: £104,757)