IRIS Accounts Production v24.2.0.383 02196002 director 1.4.23 31.3.24 31.3.24 0 false true false false true false ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021960022023-03-31021960022024-03-31021960022023-04-012024-03-31021960022022-03-31021960022022-04-012023-03-31021960022023-03-3102196002ns15:EnglandWales2023-04-012024-03-3102196002ns14:PoundSterling2023-04-012024-03-3102196002ns10:Director12023-04-012024-03-3102196002ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102196002ns10:SmallEntities2023-04-012024-03-3102196002ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102196002ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102196002ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102196002ns10:FullAccounts2023-04-012024-03-3102196002ns10:OrdinaryShareClass12023-04-012024-03-3102196002ns10:RegisteredOffice2023-04-012024-03-3102196002ns5:CurrentFinancialInstruments2024-03-3102196002ns5:CurrentFinancialInstruments2023-03-3102196002ns5:ShareCapital2024-03-3102196002ns5:ShareCapital2023-03-3102196002ns5:RetainedEarningsAccumulatedLosses2024-03-3102196002ns5:RetainedEarningsAccumulatedLosses2023-03-3102196002ns5:PlantMachinery2023-04-012024-03-3102196002ns5:LandBuildings2023-03-3102196002ns5:PlantMachinery2023-03-3102196002ns5:ComputerEquipment2023-03-3102196002ns5:LandBuildings2023-04-012024-03-3102196002ns5:ComputerEquipment2023-04-012024-03-3102196002ns5:LandBuildings2024-03-3102196002ns5:PlantMachinery2024-03-3102196002ns5:ComputerEquipment2024-03-3102196002ns5:LandBuildings2023-03-3102196002ns5:PlantMachinery2023-03-3102196002ns5:ComputerEquipment2023-03-3102196002ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3102196002ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3102196002ns10:OrdinaryShareClass12024-03-31



























TOPNET LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024






TOPNET LIMITED (REGISTERED NUMBER: 02196002)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TOPNET LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: K Vaughan





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 02196002 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

TOPNET LIMITED (REGISTERED NUMBER: 02196002)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 780,382 780,000

CURRENT ASSETS
Debtors 5 2,139 1,220
Cash at bank 42,823 58,246
44,962 59,466
CREDITORS
Amounts falling due within one year 6 179,184 177,547
NET CURRENT LIABILITIES (134,222 ) (118,081 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,160

661,919

PROVISIONS FOR LIABILITIES 58,092 61,087
NET ASSETS 588,068 600,832

CAPITAL AND RESERVES
Called up share capital 7 46 46
Retained earnings 588,022 600,786
SHAREHOLDERS' FUNDS 588,068 600,832

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30th September 2024 and were signed by:



K Vaughan - Director


TOPNET LIMITED (REGISTERED NUMBER: 02196002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Topnet 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.

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.

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 - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

TOPNET LIMITED (REGISTERED NUMBER: 02196002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st April 2023 780,000 79,072 - 859,072
Additions - - 509 509
At 31st March 2024 780,000 79,072 509 859,581
DEPRECIATION
At 1st April 2023 - 79,072 - 79,072
Charge for year - - 127 127
At 31st March 2024 - 79,072 127 79,199
NET BOOK VALUE
At 31st March 2024 780,000 - 382 780,382
At 31st March 2023 780,000 - - 780,000

Cost or valuation at 31st March 2024 is represented by:

Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
Valuation in 2018 780,846 79,072 - 859,918
Valuation in 2019 (846 ) - - (846 )
Valuation in 2024 - - 509 509
780,000 79,072 509 859,581

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 2,139 1,220

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 179,184 177,547

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
46 ordinary £1 46 46

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £177,862 (2023 - £176,323) to K Vaughan, the director and shareholder of the company .The amount is interest free and repayable on demand.