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Registration number: 09540672

Topcon Building Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Topcon Building Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Topcon Building Limited

(Registration number: 09540672)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

167,058

51,063

Current assets

 

Stocks

5

-

150,000

Debtors

6

2,293,782

3,251,343

Cash at bank and in hand

 

2,797,583

1,221,824

 

5,091,365

4,623,167

Creditors: Amounts falling due within one year

7

(2,594,771)

(2,131,273)

Net current assets

 

2,496,594

2,491,894

Total assets less current liabilities

 

2,663,652

2,542,957

Creditors: Amounts falling due after more than one year

7

(14,036)

-

Provisions for liabilities

(28,212)

(8,841)

Net assets

 

2,621,404

2,534,116

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,621,304

2,534,016

Shareholders' funds

 

2,621,404

2,534,116

For the financial year ending 31 December 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 14 April 2025 and signed on its behalf by:
 

 

Topcon Building Limited

(Registration number: 09540672)
Balance Sheet as at 31 December 2024

.........................................
R M Rendall-Tyrrell
Director

.........................................
R Brentnall
Director

 

Topcon Building Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
35 Louth Road
Scartho
Grimsby
North East Lincs
DN33 2HP

These financial statements were authorised for issue by the Board on 14 April 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 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 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.

The financial statements have been prepared in sterling to the nearest whole pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of Companies Act 2006 and has not prepared group accounts..

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 current and deferred 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.

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.

 

Topcon Building Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Motor Vehicles

25% Straight line

Furniture,Fittings and Equipment

33% Sraight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Topcon Building Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 15 (2023 - 15).

 

Topcon Building Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

13,615

72,965

86,580

Additions

1,013

143,306

144,319

At 31 December 2024

14,628

216,271

230,899

Depreciation

At 1 January 2024

9,592

25,925

35,517

Charge for the year

2,160

26,164

28,324

At 31 December 2024

11,752

52,089

63,841

Carrying amount

At 31 December 2024

2,876

164,182

167,058

At 31 December 2023

4,023

47,040

51,063

5

Stocks

2024
£

2023
£

Work in progress

-

150,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

783,040

849,631

Amounts owed by related parties

8,859

19,009

Other debtors

 

1,501,883

2,382,703

   

2,293,782

3,251,343

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,664

-

Trade creditors

 

2,043,155

1,642,091

Taxation and social security

 

528,226

336,576

Accruals and deferred income

 

9,765

57,115

Other creditors

 

5,961

95,491

 

2,594,771

2,131,273

 

Topcon Building Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

14,036

-

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

14,036

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

7,664

-

9

Parent and ultimate parent undertaking

The Company's immediate parent is Topcon Buildings Holdings Limited, incorporated in United Kingdom.