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REGISTERED NUMBER: 14976279 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 3RD JULY 2023 TO 31ST JULY 2024

FOR

TOP INTEGRATED CIRCUITS LTD

TOP INTEGRATED CIRCUITS LTD (REGISTERED NUMBER: 14976279)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 3RD JULY 2023 TO 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TOP INTEGRATED CIRCUITS LTD

COMPANY INFORMATION
FOR THE PERIOD 3RD JULY 2023 TO 31ST JULY 2024







DIRECTOR: Dr W Yang





REGISTERED OFFICE: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





REGISTERED NUMBER: 14976279 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

TOP INTEGRATED CIRCUITS LTD (REGISTERED NUMBER: 14976279)

BALANCE SHEET
31ST JULY 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 8,102

CURRENT ASSETS
Debtors 5 72,389
Cash at bank 12,485
84,874
CREDITORS
Amounts falling due within one year 6 4,689,328
NET CURRENT LIABILITIES (4,604,454 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,596,352

)

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (4,596,353 )
SHAREHOLDERS' FUNDS (4,596,352 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th March 2025 and were signed by:





Dr W Yang - Director


TOP INTEGRATED CIRCUITS LTD (REGISTERED NUMBER: 14976279)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 3RD JULY 2023 TO 31ST JULY 2024

1. STATUTORY INFORMATION

Top Integrated Circuits Ltd 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.

The going concern status of the company is dependent upon the continued financial support of the parent company Gongyan Tuoxin (Suzhou) Integrated Circuits Ltd, a company incorporated in China.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 period 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

TOP INTEGRATED CIRCUITS LTD (REGISTERED NUMBER: 14976279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3RD JULY 2023 TO 31ST JULY 2024

2. ACCOUNTING POLICIES - continued

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.

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 period was 40 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 23,488
Disposals (12,548 )
At 31st July 2024 10,940
DEPRECIATION
Charge for period 2,838
At 31st July 2024 2,838
NET BOOK VALUE
At 31st July 2024 8,102

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 72,389

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 226,399
Amounts owed to group undertakings 4,176,989
Taxation and social security 198,942
Other creditors 86,998
4,689,328

7. RELATED PARTY DISCLOSURES

At the period end the company owed £4,176,989 to it's ultimate parent, Gongyan Tuoxin (Suzhou) Integrated Circuits Ltd, a company incorporated in China

TOP INTEGRATED CIRCUITS LTD (REGISTERED NUMBER: 14976279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3RD JULY 2023 TO 31ST JULY 2024

8. ULTIMATE CONTROLLING PARTY

The controlling party is Gongyan Tuoxin (Suzhou) IntegratedCircuits Ltd.

Gongyan Tuoxin (Suzhou) Integrated Circuits Ltd is a company incorporated in China. No one individual controls Gongyan Tuoxin (Suzhou) Integrated Circuits Ltd. Dr Wenwai Yang is the CEO of Gongyan Tuoxin (Suzhou) Integrated Circuits Ltd