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Registered number: 02550143
Top Treads Limited
Unaudited Financial Statements
For The Year Ended 29 November 2024
C W Dix Limited
Accountants & Business Advisors
4b Silkwood Court
Wakefield
West Yorkshire
WF5 9TP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02550143
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 69,601 86,166
69,601 86,166
CURRENT ASSETS
Stocks 5 114,933 115,285
Debtors 6 1,824,500 1,708,081
Cash at bank and in hand 4 137
1,939,437 1,823,503
Creditors: Amounts Falling Due Within One Year 7 (1,099,457 ) (991,765 )
NET CURRENT ASSETS (LIABILITIES) 839,980 831,738
TOTAL ASSETS LESS CURRENT LIABILITIES 909,581 917,904
Creditors: Amounts Falling Due After More Than One Year 8 (5,000 ) (15,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (17,400 ) (21,541 )
NET ASSETS 887,181 881,363
CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium account 99,900 99,900
Profit and Loss Account 787,181 781,363
SHAREHOLDERS' FUNDS 887,181 881,363
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For the year ending 29 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Small
Director
04/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Top Treads Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02550143 . The registered office is Unit 1 Crigglestone Industrial Estate, Crigglestone, Wakefield, WF4 3HT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Statement of Compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2.2. Going Concern Disclosure
The director has considered the impact of COVID-19 on the company's trade, as well as the wider economy. Whilst it is not considered practical to accurately assess the duration and extent of the disruption, the director is confident that he has in place plans to deal with any financial losses that may arise. The director therefore continues to adopt the going concern basis of preparation for these financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% per annum on reducing value
Motor Vehicles 25% per annum on reducing value
Fixtures & Fittings 15% per annum on reducing value
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals 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 as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct materials (purchase cost is based on a first-in, first-out basis) and labour plus attributable overheads is based on a normal level of activity. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
Sales, marketing and distribution 7 4
Manufacturing 12 10
22 17
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 25 November 2023 486,207 61,709 79,404 627,320
Additions - 4,000 - 4,000
Disposals - (14,592 ) - (14,592 )
As at 29 November 2024 486,207 51,117 79,404 616,728
Depreciation
As at 25 November 2023 439,173 25,186 76,795 541,154
Provided during the period 9,499 6,058 391 15,948
Disposals - (9,975 ) - (9,975 )
As at 29 November 2024 448,672 21,269 77,186 547,127
Net Book Value
As at 29 November 2024 37,535 29,848 2,218 69,601
As at 25 November 2023 47,034 36,523 2,609 86,166
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5. Stocks
2024 2023
£ £
Stock 114,933 115,285
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 647,245 656,594
Other debtors 1,177,255 1,051,487
1,824,500 1,708,081
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 686,991 657,780
Bank loans and overdrafts 186,851 185,526
Corporation tax 4,279 3,386
Other taxes and social security 73,287 47,050
Other creditors 148,049 98,023
1,099,457 991,765
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,000 15,000
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 17,400 21,541
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Other Commitments
At the end of the period the company had annual commitments under non-cancellable operating leases as follows:
2024 2023
£ £
Later than one year and not later than five years 113,310 128,169
113,310 128,169
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12. Ultimate Controlling Party
The directors consider Mark Small Holdings Limited , a company registered in England, to be the company's ultimate holding company.
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