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REGISTERED NUMBER: 03781865


















TOPSTAK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






TOPSTAK LIMITED (REGISTERED NUMBER: 03781865)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOPSTAK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: L D Pedersen
A S E Pedersen





REGISTERED OFFICE: Unit 42 Vale Business Park
Cowbridge
Vale of Glamorgan
CF71 7PF





REGISTERED NUMBER: 03781865





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

TOPSTAK LIMITED (REGISTERED NUMBER: 03781865)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 49,450 58,441
Tangible assets 5 1,158,346 1,052,321
Investments 6 100 100
1,207,896 1,110,862

CURRENT ASSETS
Stocks 939,956 1,022,027
Debtors 7 265,298 616,091
Cash at bank and in hand 794,065 971,657
1,999,319 2,609,775
CREDITORS
Amounts falling due within one year 8 (448,203 ) (924,162 )
NET CURRENT ASSETS 1,551,116 1,685,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,759,012

2,796,475

PROVISIONS FOR LIABILITIES (75,375 ) (46,980 )
NET ASSETS 2,683,637 2,749,495

CAPITAL AND RESERVES
Called up share capital 9 107 107
Share premium 109,993 109,993
Retained earnings 2,573,537 2,639,395
SHAREHOLDERS' FUNDS 2,683,637 2,749,495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

TOPSTAK LIMITED (REGISTERED NUMBER: 03781865)

BALANCE SHEET - continued
30 JUNE 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2025 and were signed on its behalf by:





A S E Pedersen - Director


TOPSTAK LIMITED (REGISTERED NUMBER: 03781865)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Topstak 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 company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below.These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
Turnover represents sales of chimney, heating and building products excluding Value Added Tax.

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.
Land and Property - Straight line over 50 years
Plant and machinery - 20% on reducing balance
Fixtures and Fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

TOPSTAK LIMITED (REGISTERED NUMBER: 03781865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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.

Non-derivative financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 89,910
AMORTISATION
At 1 July 2023 31,469
Charge for year 8,991
At 30 June 2024 40,460
NET BOOK VALUE
At 30 June 2024 49,450
At 30 June 2023 58,441

5. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and
Property machinery Fittings
£    £    £   
COST
At 1 July 2023 966,600 279,758 55,951
Additions - 84,602 -
Disposals - - -
At 30 June 2024 966,600 364,360 55,951
DEPRECIATION
At 1 July 2023 111,471 183,352 26,436
Charge for year 13,975 32,818 4,427
Eliminated on disposal - - -
At 30 June 2024 125,446 216,170 30,863
NET BOOK VALUE
At 30 June 2024 841,154 148,190 25,088
At 30 June 2023 855,129 96,406 29,515

TOPSTAK LIMITED (REGISTERED NUMBER: 03781865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 179,912 2,672 1,484,893
Additions 131,763 333 216,698
Disposals (46,750 ) - (46,750 )
At 30 June 2024 264,925 3,005 1,654,841
DEPRECIATION
At 1 July 2023 111,191 122 432,572
Charge for year 30,544 415 82,179
Eliminated on disposal (18,256 ) - (18,256 )
At 30 June 2024 123,479 537 496,495
NET BOOK VALUE
At 30 June 2024 141,446 2,468 1,158,346
At 30 June 2023 68,721 2,550 1,052,321

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 100
NET BOOK VALUE
At 30 June 2024 100
At 30 June 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 260,550 596,225
Prepayments and accrued income 4,748 19,866
265,298 616,091

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 173,613 262,880
Corporation tax 27,048 138,763
Social security and other taxes 11,116 10,182
VAT 86,135 72,304
Other creditors 45,922 325,477
Directors' current accounts 100,881 93,822
Accruals and deferred income 3,488 20,734
448,203 924,162

TOPSTAK LIMITED (REGISTERED NUMBER: 03781865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
33 Ordinary A shares of £1 each £1 33 33
40 Ordinary B shares of £1 each £1 40 40
34 Ordinary C shares of £1 each £1 34 34
107 107

10. OPERATING LEASE COMMITMENTS

The company has total operating lease commitments at the balance sheet date of £372,667 (2023: £20,764).