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REGISTERED NUMBER: 06534504 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

TOPSPOT SERVICES (MARSKE) LIMITED

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)






Contents of the Financial Statements
for the year ended 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TOPSPOT SERVICES (MARSKE) LIMITED

Company Information
for the year ended 29 FEBRUARY 2024







DIRECTORS: D S Penny
Mr B Eastham





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 06534504 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Statement of Financial Position
29 FEBRUARY 2024

29/2/24 28/2/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 215,738 213,014

CURRENT ASSETS
Stocks 5 106,892 100,819
Debtors 6 56,941 291,366
Cash at bank and in hand 749,627 330,047
913,460 722,232
CREDITORS
Amounts falling due within one year 7 (667,985 ) (556,439 )
NET CURRENT ASSETS 245,475 165,793
TOTAL ASSETS LESS CURRENT
LIABILITIES

461,213

378,807

PROVISIONS FOR LIABILITIES 8 (10,581 ) (8,868 )
NET ASSETS 450,632 369,939

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 450,628 369,935
SHAREHOLDERS' FUNDS 450,632 369,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Statement of Financial Position - continued
29 FEBRUARY 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:




D S Penny - Director



Mr B Eastham - Director


TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Notes to the Financial Statements
for the year ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Topspot Services (Marske) 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.

Turnover
Turnover represents sales of goods and services net of VAT and trade discounts. Turnover is recognised when the goods or services are provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 50 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Land and building held and used in the Company's own activities for production and supply of goods or for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Depreciation on cost of buildings is charged to profit and loss. Depreciation on the revaluation amount on buildings is charged to the revaluation reserve, so as to write off their value less residual value, over their estimated useful life, using the straight line method.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Stocks
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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.

Operating lease
Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 March 2023 201,101 102,685 7,894 311,680
Additions - 20,117 - 20,117
At 29 February 2024 201,101 122,802 7,894 331,797
DEPRECIATION
At 1 March 2023 24,130 68,734 5,802 98,666
Charge for year 4,022 12,917 454 17,393
At 29 February 2024 28,152 81,651 6,256 116,059
NET BOOK VALUE
At 29 February 2024 172,949 41,151 1,638 215,738
At 28 February 2023 176,971 33,951 2,092 213,014

5. STOCKS
29/2/24 28/2/23
£    £   
Stocks 106,892 100,819

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 38,273 53,457
Amounts owed by participating interests 14,991 14,991
Other debtors 3,677 222,918
56,941 291,366

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade creditors 468,999 375,332
Amounts owed to participating interests 91,550 69,817
Taxation and social security 72,900 107,378
Other creditors 34,536 3,912
667,985 556,439

TOPSPOT SERVICES (MARSKE) LIMITED (REGISTERED NUMBER: 06534504)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

8. PROVISIONS FOR LIABILITIES
29/2/24 28/2/23
£    £   
Deferred tax
Accelerated capital allowances 10,581 8,868

Deferred
tax
£   
Balance at 1 March 2023 8,868
Provided during year 1,713
Balance at 29 February 2024 10,581

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
4 Ordinary £1 4 4

10. RELATED PARTY DISCLOSURES

The amount included in debtors amounts due within one year of £14,991 (£2023 - 14,991) is owed by related entity, Penny Petroleum Partnership 2 £14,991 (2023 - £14,991).

The amount included in creditors amounts due within one year of £91,550 (2023: £69,817) is owed to related entity, Topspot Services (Leeming) Limited £45,000 (2023 - £45,000) and Penny Petroleum (Management) Limited £46,550 (2023 - £24,817).

Management charges of £81,733 (2023: £47,400) are paid to Penny Petroleum (Management) Limited.

All entities are under the common control of one of the directors.

Amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.