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REGISTERED NUMBER: 02728924 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

TOPFIB LIMITED

TOPFIB LIMITED (REGISTERED NUMBER: 02728924)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TOPFIB LIMITED

Company Information
for the year ended 31 May 2024







Director: Mr K R Carnelley





Secretary: Ms M J Payne





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 02728924 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

TOPFIB LIMITED (REGISTERED NUMBER: 02728924)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 919 1,467
Investments 5 12,201,714 11,216,865
12,202,633 11,218,332

Current assets
Debtors 6 52,357 794
Cash at bank 235,786 593,956
288,143 594,750
Creditors
Amounts falling due within one year 7 2,641 2,640
Net current assets 285,502 592,110
Total assets less current liabilities 12,488,135 11,810,442

Provisions for liabilities 8 842,748 757,787
Net assets 11,645,387 11,052,655

Capital and reserves
Called up share capital 9 3,599,750 3,599,750
Share premium 400,249 400,249
Revaluation reserve 10 3,359,337 3,104,306
Retained earnings 4,286,051 3,948,350
Shareholders' funds 11,645,387 11,052,655

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2025 and were signed by:



Mr K R Carnelley - Director


TOPFIB LIMITED (REGISTERED NUMBER: 02728924)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

TopFIB 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 as modified by the revaluation of certain assets.

Turnover
Turnover is comprised of investment profits/(losses) and income from investments.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investment
Investments held as fixed assets are stated at fair value.

3. Employees and directors

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

TOPFIB LIMITED (REGISTERED NUMBER: 02728924)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


4. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 June 2023
and 31 May 2024 2,739
Depreciation
At 1 June 2023 1,272
Charge for year 548
At 31 May 2024 1,820
Net book value
At 31 May 2024 919
At 31 May 2023 1,467

5. Fixed asset investments
Other
investments
£   
Cost or valuation
At 1 June 2023 11,216,865
Additions 2,173,612
Disposals (1,528,804 )
Revaluations 340,041
At 31 May 2024 12,201,714
Net book value
At 31 May 2024 12,201,714
At 31 May 2023 11,216,865

Cost or valuation at 31 May 2024 is represented by:

Other
investments
£   
Valuation in 2016 1,239,962
Valuation in 2017 1,136,369
Valuation in 2018 (272,533 )
Valuation in 2019 177,091
Valuation in 2020 830,503
Valuation in 2021 951,299
Valuation in 2022 (463,038 )
Valuation in 2023 262,162
Valuation in 2024 340,041
Cost 7,999,858
12,201,714

TOPFIB LIMITED (REGISTERED NUMBER: 02728924)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 52,357 794

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Other creditors 2,641 2,640

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 842,748 757,787

Deferred
tax
£   
Balance at 1 June 2023 757,787
Charge to Profit and Loss Account during year 84,961
Balance at 31 May 2024 842,748

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
17,998,749 Ordinary 20p 3,599,750 3,599,750

10. Reserves
Revaluation
reserve
£   
At 1 June 2023 3,104,306
Revaluation transfer 340,041
Deferred tax on revaluation (85,010 )

At 31 May 2024 3,359,337

11. Director's advances, credits and guarantees

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

2024 2023
£    £   
Mr K R Carnelley
Balance outstanding at start of year - (24,564 )
Amounts repaid 51,563 24,564
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51,563 -