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REGISTERED NUMBER: 04203732 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

TOP CATCH LIMITED

TOP CATCH LIMITED (REGISTERED NUMBER: 04203732)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOP CATCH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr K Bartlett
Mrs K Bartlett



REGISTERED OFFICE: The Stoep
Dartmouth Road
Paignton
Devon
TQ4 6LQ



REGISTERED NUMBER: 04203732 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Barclays
3 Bedford Street
Exeter
Devon
EX1 1LX

TOP CATCH LIMITED (REGISTERED NUMBER: 04203732)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 70,917 36,119
70,917 36,119

CURRENT ASSETS
Stocks 6 2,750 3,500
Debtors 7 73,846 63,308
Cash at bank and in hand 64,033 56,343
140,629 123,151
CREDITORS
Amounts falling due within one year 8 91,908 85,938
NET CURRENT ASSETS 48,721 37,213
TOTAL ASSETS LESS CURRENT LIABILITIES 119,638 73,332

CREDITORS
Amounts falling due after more than one
year

9

(28,936

)

(21,706

)

PROVISIONS FOR LIABILITIES (17,729 ) (6,863 )
NET ASSETS 72,973 44,763

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 72,873 44,663
SHAREHOLDERS' FUNDS 72,973 44,763

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

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

TOP CATCH LIMITED (REGISTERED NUMBER: 04203732)

BALANCE SHEET - continued
31 MAY 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:




Mr K Bartlett - Director



Mrs K Bartlett - Director


TOP CATCH LIMITED (REGISTERED NUMBER: 04203732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Top Catch 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - at varying rates on cost
Improvements to property - at varying rates on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


TOP CATCH LIMITED (REGISTERED NUMBER: 04203732)

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


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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 75,000
AMORTISATION
At 1 June 2023
and 31 May 2024 75,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

TOP CATCH LIMITED (REGISTERED NUMBER: 04203732)

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


5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 June 2023 3,000 1,297 59,804
Additions - - 3,126
Disposals - - -
At 31 May 2024 3,000 1,297 62,930
DEPRECIATION
At 1 June 2023 3,000 1,296 42,492
Charge for year - - 4,088
Eliminated on disposal - - -
At 31 May 2024 3,000 1,296 46,580
NET BOOK VALUE
At 31 May 2024 - 1 16,350
At 31 May 2023 - 1 17,312

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 11,366 89,508 5,007 169,982
Additions - 51,672 1,610 56,408
Disposals - - (3,601 ) (3,601 )
At 31 May 2024 11,366 141,180 3,016 222,789
DEPRECIATION
At 1 June 2023 5,395 77,074 4,606 133,863
Charge for year 896 16,090 536 21,610
Eliminated on disposal - - (3,601 ) (3,601 )
At 31 May 2024 6,291 93,164 1,541 151,872
NET BOOK VALUE
At 31 May 2024 5,075 48,016 1,475 70,917
At 31 May 2023 5,971 12,434 401 36,119

TOP CATCH LIMITED (REGISTERED NUMBER: 04203732)

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


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 45,648
Transfer to ownership 1,000
At 31 May 2024 46,648
DEPRECIATION
Charge for year 11,662
Transfer to ownership 250
At 31 May 2024 11,912
NET BOOK VALUE
At 31 May 2024 34,736

6. STOCKS
2024 2023
£    £   
Stocks 2,750 3,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 70,853 60,730
Directors' current accounts 178 -
VAT 2,459 2,246
Prepayments 356 332
73,846 63,308

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,791 26,165
Hire purchase contracts 8,712 -
Trade creditors 36,486 32,665
Tax 14,983 22,460
Social security and other taxes 383 407
Other creditors 229 -
Directors' current accounts - 3,202
Accrued expenses 324 1,039
91,908 85,938

TOP CATCH LIMITED (REGISTERED NUMBER: 04203732)

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 11,705 21,706
Hire purchase contracts 17,231 -
28,936 21,706

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 20,791 16,165
Bank loans 21,705 31,706
42,496 47,871

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mrs K Bartlett and Mr K Bartlett
Balance outstanding at start of year (3,201 ) (361 )
Amounts advanced 91,860 76,649
Amounts repaid (88,481 ) (79,489 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 178 (3,201 )

Loans are unsecured, interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £51,200 (2023 - £65,000) were paid to the directors .

13. BOUNCE BACK LOAN

The bank loan of £21,705 is a COVID-19 bounce back loan, guaranteed by the government. The terms runs until 2027.

14. USE OF HOME

During the year, the company rented the directors personal residence under a Licence to Occupy agreement for £2,335 (2023: £2,335).