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REGISTERED NUMBER: 04147156 (England and Wales)
























TOP NOTCH JOINERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






TOP NOTCH JOINERY LIMITED (REGISTERED NUMBER: 04147156)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOP NOTCH JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: P W Mason
E D Newton





REGISTERED OFFICE: Unit 6 Harolds Park Farm
Bumbles Green
Nazeing
Essex
EN9 2SF





REGISTERED NUMBER: 04147156 (England and Wales)





ACCOUNTANTS: TC Group
6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD

TOP NOTCH JOINERY LIMITED (REGISTERED NUMBER: 04147156)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,744 16,111

CURRENT ASSETS
Stocks 102,947 117,191
Debtors 5 32,128 33,262
Cash at bank 5,405 -
140,480 150,453
CREDITORS
Amounts falling due within one year 6 176,751 177,351
NET CURRENT LIABILITIES (36,271 ) (26,898 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,527 ) (10,787 )

CREDITORS
Amounts falling due after more than one
year

7

(17,060

)

(21,565

)

PROVISIONS FOR LIABILITIES (2,421 ) (2,807 )
NET LIABILITIES (43,008 ) (35,159 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (44,008 ) (36,159 )
(43,008 ) (35,159 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TOP NOTCH JOINERY LIMITED (REGISTERED NUMBER: 04147156)

BALANCE SHEET - continued
31 JULY 2024


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 Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





P W Mason - Director


TOP NOTCH JOINERY LIMITED (REGISTERED NUMBER: 04147156)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Top Notch Joinery 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.

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.

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 - 10% on reducing balance
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 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.

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.

TOP NOTCH JOINERY LIMITED (REGISTERED NUMBER: 04147156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023 204,950 16,750 221,700
Additions 1,157 - 1,157
At 31 July 2024 206,107 16,750 222,857
DEPRECIATION
At 1 August 2023 191,629 13,960 205,589
Charge for year 1,734 2,790 4,524
At 31 July 2024 193,363 16,750 210,113
NET BOOK VALUE
At 31 July 2024 12,744 - 12,744
At 31 July 2023 13,321 2,790 16,111

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,749 31,788
Other debtors 2,379 1,474
32,128 33,262

TOP NOTCH JOINERY LIMITED (REGISTERED NUMBER: 04147156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,336 33,087
Trade creditors 17,892 24,771
Taxation and social security 65,523 52,272
Other creditors 87,000 67,221
176,751 177,351

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 17,060 21,565

8. RELATED PARTY DISCLOSURES

The directors did not receive dividends during this year or last year.
Both directors were owed money by the company and these amounts at the year end were:

P W Mason - £61,075 (2023: £36,967)
E D Newton - £23,100 (2023: £23,100)

9. ULTIMATE CONTROLLING PARTY

The directors, P W Mason and E D Newton, each own 50% of the share capital.

10. GOING CONCERN

The directors recognise that the company has an insolvent balance sheet and confirm that they will continue to support the company personally until it is in a solvent position again.