TOPALOV QUALITY MOTORS LTD

Company Registration Number:
13923985 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2025

Period of accounts

Start date: 01 March 2024

End date: 28 February 2025

TOPALOV QUALITY MOTORS LTD

Contents of the Financial Statements

for the Period Ended 28 February 2025

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

TOPALOV QUALITY MOTORS LTD

Company Information

for the Period Ended 28 February 2025




Director: Denis Alenov Topalov
Registered office: 11
Institute Road
Coopersale
Epping
England
CM16 7QY
Company Registration Number: 13923985 (England and Wales)

TOPALOV QUALITY MOTORS LTD

Directors' Report Period Ended 28 February 2025

The directors present their report with the financial statements of the company for the period ended 28 February 2025

Principal Activities

Sale of used cars and light motor vehicles

Directors

The directors shown below have held office during the whole of the period from 01 March 2024 to 28 February 2025
Denis Alenov Topalov

This report was approved by the board of directors on 16 May 2025
And Signed On Behalf Of The Board By:

Name: Denis Alenov Topalov
Status: Director

TOPALOV QUALITY MOTORS LTD

Profit and Loss Account

for the Period Ended 28 February 2025


Notes

2025
£

2024
£
Turnover 382,648 208,689
Cost of sales - ( 11,891 )
Gross Profit or (Loss) 382,648 196,798
Administrative Expenses ( 493,773 ) ( 159,325 )
Operating Profit or (Loss) ( 111,125 ) 37,473
Profit or (Loss) Before Tax ( 111,125 ) 37,473
Profit or (Loss) for Period ( 111,125 ) 37,473

The notes form part of these financial statements

TOPALOV QUALITY MOTORS LTD

Balance sheet

As at 28 February 2025


Notes

2025
£

2024
£
Fixed assets
Tangible assets: 4 598,937 443,296
Total fixed assets: 598,937 443,296
Current assets
Cash at bank and in hand: 111,156 95,960
Total current assets: 111,156 95,960
Creditors: amounts falling due within one year: 5 ( 5,061 )
Net current assets (liabilities): 106,095 95,960
Total assets less current liabilities: 705,032 539,256
Creditors: amounts falling due after more than one year: 6 ( 483,394 ) ( 31,113 )
Provision for liabilities: ( 470,568 )
Total net assets (liabilities): 221,638 37,575

The notes form part of these financial statements

TOPALOV QUALITY MOTORS LTD

Balance sheet continued

As at 28 February 2025


Notes

2025
£

2024
£
Capital and reserves
Called up share capital: 100 100
Revaluation reserve: 7 332,663 0
Profit and loss account: ( 111,125 ) 37,475
Shareholders funds: 221,638 37,575

For the year ending 28 February 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 16 May 2025
And Signed On Behalf Of The Board By:

Name: Denis Alenov Topalov
Status: Director

The notes form part of these financial statements

TOPALOV QUALITY MOTORS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the total invoiced value of goods sold and services provided during the accounting period, excluding value added tax (VAT). Turnover is recognised when the significant risks and rewards of ownership have been transferred to the customer, usually at the point of delivery. Revenue from the sale of second-hand vehicles is recognised once legal title has passed to the buyer, and payment terms have been agreed.

    Tangible fixed assets depreciation policy

    The company’s tangible fixed assets, primarily comprising second-hand vehicles held for resale, are not subject to depreciation. This policy is based on the nature of the assets, which are held as inventory for trading purposes rather than for long-term use. As a result, depreciation is not charged on these assets, and their value is reviewed regularly to reflect any impairment or revaluation as appropriate.

    Valuation information and policy

    Tangible fixed assets, consisting primarily of second-hand vehicles acquired for resale, are stated at fair value based on periodic management assessment or external market data. Revaluations are performed where appropriate to reflect the estimated selling value of the assets less estimated costs to sell. Any increase in value arising from revaluation is credited to the revaluation reserve within equity, while decreases are charged to the profit and loss account unless they reverse a previous upwards revaluation.

    Other accounting policies

TOPALOV QUALITY MOTORS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 2. Employees


    2025

    2024
    Average number of employees during the period 0 0

TOPALOV QUALITY MOTORS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 3. Off balance sheet disclosure

    No

TOPALOV QUALITY MOTORS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

4. Tangible assets

Motor vehicles Total
Cost £ £
At 01 March 2024 443,296 443,296
Additions 2,294,924 2,294,924
Disposals ( 2,139,283 ) ( 2,139,283 )
Revaluations - -
Transfers - -
At 28 February 2025 598,937 598,937
Depreciation
At 01 March 2024 - -
Charge for year - -
On disposals - -
Other adjustments - -
At 28 February 2025 - -
Net book value
At 28 February 2025 598,937 598,937
At 29 February 2024 443,296 443,296

TOPALOV QUALITY MOTORS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

5.Creditors: amounts falling due within one year note


2025
£

2024
£
Other creditors 5,061
Total 5,061

As at the balance sheet date, the company owed £5,061 to HM Revenue & Customs in respect of outstanding VAT and PAYE liabilities. These amounts are included within creditors falling due within one year. The company does not hold any secured charges in favor of HMRC related to these liabilities.

TOPALOV QUALITY MOTORS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

6.Creditors: amounts falling due after more than one year


2025
£

2024
£
Other creditors 483,394 31,113
Total 483,394 31,113

Included within creditors falling due after more than one year is a director’s loan amounting to £483,394. This loan is unsecured and repayable on demand or at the discretion of the company’s board of directors. No interest is currently payable on this loan.

TOPALOV QUALITY MOTORS LTD

Notes to the Financial Statements

for the Period Ended 28 February 2025

7. Revaluation reserve


2025
£
Balance at 01 March 2024 0
Surplus or deficit after revaluation 332,663
Balance at 28 February 2025 332,663

The revaluation reserve of £332,663 reflects the increase in the carrying value of the company’s tangible fixed assets, primarily consisting of second-hand vehicles purchased for resale. This reserve represents unrealised gains from asset revaluation and is a non-distributable reserve included within equity. It does not affect the company’s taxable profits for the period.