REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Top Glory Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Top Glory Management Limited |
Top Glory Management Limited (Registered number: 02860622) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Top Glory Management Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
3rd Floor |
9 St. Clare Street |
London |
EC3N 1LQ |
Top Glory Management Limited (Registered number: 02860622) |
Statement of Financial Position |
31 December 2023 |
31.12.23 | 31.12.22 |
£ | £ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
The director acknowledges her 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 were approved by the director and authorised for issue on |
Top Glory Management Limited (Registered number: 02860622) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Top Glory Management Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future based on the continuing support from its parent company. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
The financial statements do not include the adjustments that would result if the company would be unable to continue in operation. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Top Glory Management Limited (Registered number: 02860622) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Top Glory Management Limited hold bank accounts on behalf of COFCO Corporation, the ultimate parent company. As at 31 December 2022, the total balance amounted to £85,355 (2022: £364,807). The bank balances have not been recognised in these accounts as the company does not have the right to use these bank accounts without instruction from the ultimate parent company. |
5. | ULTIMATE CONTROLLING PARTY |
The immediate parent company is Cofco (UK) Ltd. its immediate parent company, a company registered in the United Kingdom and the ultimate parent company is Cofco Corporation, a company registered in P.R. China. |
There is no one ultimate controlling party. |