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Registration number: 01049503

Topfloors Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2024

 

Topfloors Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Topfloors Limited

Company Information

Directors

Mr Anthony Patrick Billows

Mr Michael Anthony Eric Michael Billows

Mr Graham Atherton

Company secretary

Mr Anthony Patrick Billows

Registered office

280 Manchester Road
Lostock Gralam
Northwich
Cheshire
CW9 7PY

 

Topfloors Limited

(Registration number: 01049503)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

285,049

277,017

Current assets

 

Stocks

5

13,446

16,120

Debtors

6

6,447

15,697

Cash at bank and in hand

 

141,853

147,524

 

161,746

179,341

Prepayments and accrued income

 

1,720

1,464

Creditors: Amounts falling due within one year

(37,637)

(44,026)

Net current assets

 

125,829

136,779

Total assets less current liabilities

 

410,878

413,796

Creditors: Amounts falling due after more than one year

(26,852)

(32,407)

Provisions for liabilities

(13,985)

(13,985)

Accruals and deferred income

 

(9,304)

(15,928)

Net assets

 

360,737

351,476

Capital and reserves

 

Called up share capital

7

100

100

Revaluation reserve

232,971

232,971

Retained earnings

127,666

118,405

Shareholders' funds

 

360,737

351,476

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Topfloors Limited

(Registration number: 01049503)
Abridged Balance Sheet as at 31 July 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 March 2025 and signed on its behalf by:
 

.........................................
Mr Anthony Patrick Billows
Company secretary and director

.........................................
Mr Graham Atherton
Director

 

Topfloors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
280 Manchester Road
Lostock Gralam
Northwich
Cheshire
CW9 7PY

These financial statements were authorised for issue by the Board on 21 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Topfloors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Held at revalued amount

Motor vehicles

25% reducing balance

Tools and equipment

10% reducing balance

Computer equipment

33.3% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Topfloors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Topfloors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

275,000

15,574

18,136

308,710

Additions

-

11,110

-

11,110

At 31 July 2024

275,000

26,684

18,136

319,820

Depreciation

At 1 August 2023

-

15,574

16,119

31,693

Charge for the year

-

2,778

300

3,078

At 31 July 2024

-

18,352

16,419

34,771

Carrying amount

At 31 July 2024

275,000

8,332

1,717

285,049

At 31 July 2023

275,000

-

2,017

277,017

Included within the net book value of land and buildings above is £275,000 (2023 - £275,000) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Work in progress

2,705

7,606

Other inventories

10,741

8,514

13,446

16,120

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

Topfloors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

232,971

232,971