Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3112023-02-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03489355 2023-02-01 2024-01-31 03489355 2022-02-01 2023-01-31 03489355 2024-01-31 03489355 2023-01-31 03489355 c:Director1 2023-02-01 2024-01-31 03489355 d:MotorVehicles 2023-02-01 2024-01-31 03489355 d:MotorVehicles 2024-01-31 03489355 d:MotorVehicles 2023-01-31 03489355 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03489355 d:FurnitureFittings 2023-02-01 2024-01-31 03489355 d:FurnitureFittings 2024-01-31 03489355 d:FurnitureFittings 2023-01-31 03489355 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03489355 d:ComputerEquipment 2023-02-01 2024-01-31 03489355 d:ComputerEquipment 2024-01-31 03489355 d:ComputerEquipment 2023-01-31 03489355 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03489355 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03489355 d:CurrentFinancialInstruments 2024-01-31 03489355 d:CurrentFinancialInstruments 2023-01-31 03489355 d:Non-currentFinancialInstruments 2024-01-31 03489355 d:Non-currentFinancialInstruments 2023-01-31 03489355 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 03489355 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 03489355 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 03489355 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 03489355 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 03489355 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 03489355 c:FRS102 2023-02-01 2024-01-31 03489355 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 03489355 c:FullAccounts 2023-02-01 2024-01-31 03489355 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03489355 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 03489355









TOP NOTCH LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
TOP NOTCH LIMITED
REGISTERED NUMBER: 03489355

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Fixed assets
  

Tangible assets
 4 
1,899
2,423

  
1,899
2,423

Current assets
  

Debtors: amounts falling due within one year
 5 
648
1,595

Cash at bank and in hand
 6 
3,547
1,394

  
4,195
2,989

Creditors: amounts falling due within one year
 7 
(8,587)
(8,340)

Net current liabilities
  
 
 
(4,392)
 
 
(5,351)

Total assets less current liabilities
  
(2,493)
(2,928)

  

Creditors: amounts falling due after more than one year
 8 
(89,279)
(85,980)

  
(91,772)
(88,908)

  

  

Net assets excluding pension asset
  
(91,772)
(88,908)

Net liabilities
  
(91,772)
(88,908)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(91,872)
(89,008)

Total equity
  
(91,772)
(88,908)


Page 1

 
TOP NOTCH LIMITED
REGISTERED NUMBER: 03489355
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M Topping
Director

Date: 29 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TOP NOTCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Top Notch Limited is a private company limited by shares. The company is incorporated in England & Wales and its trading address is 1 Temple Close, Watford, WD17 3DR. The registered number is 03489355.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
TOP NOTCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
20% reducing balance
Computer equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 4

 
TOP NOTCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
TOP NOTCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
10,725
12,544
541
23,810



At 31 January 2024

10,725
12,544
541
23,810



Depreciation


At 1 February 2023
9,919
11,369
99
21,387


Charge for the year on owned assets
201
235
88
524



At 31 January 2024

10,120
11,604
187
21,911



Net book value



At 31 January 2024
605
940
354
1,899



At 31 January 2023
806
1,175
442
2,423


5.


Debtors

2024
2023
£
£


Other debtors
648
1,595



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,547
1,394


Page 6

 
TOP NOTCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,087
5,940

Accruals and deferred income
2,500
2,400

8,587
8,340



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,894
14,981

Other creditors
80,385
70,999

89,279
85,980



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
6,087
5,940

Amounts falling due 1-2 years

Bank loans
6,241
6,087

Amounts falling due 2-5 years

Bank loans
2,653
8,894


14,981
20,921


 
Page 7