Registered number
08659511
TOP CONNECT LTD
Filleted Accounts
31 August 2024
TOP CONNECT LTD
Registered number: 08659511
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,012 1,808
Current assets
Debtors 4 450,355 239,766
Cash at bank and in hand 79,627 119,381
529,982 359,147
Creditors: amounts falling due within one year 5 (327,619) (271,310)
Net current assets 202,363 87,837
Net assets 205,375 89,645
Capital and reserves
Called up share capital 30,000 30,000
Profit and loss account 175,375 59,645
Shareholders' funds 205,375 89,645
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Francis Yaw Ohene Duah
Director
Approved by the board on 9 June 2025
TOP CONNECT LTD
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Revenue represents commissions and other amounts received for arranging and effecting money transfer services in the normal course of business including revenue based on the difference between the exchange rate charged by the Company and the acquisition cost of currency, where a transaction involves payment and receipt in different currencies.

Provided the amount of revenue can be measured reliably and it is probable that the Company will receive some consideration, revenue for services is recognised in the period in which they are rendered.

The Company does not charge VAT on transactions owing to money transfer services being an exempt supply.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% Straightline
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 2,644
Additions 2,486
At 31 August 2024 5,130
Depreciation
At 1 September 2023 836
Charge for the year 1,282
At 31 August 2024 2,118
Net book value
At 31 August 2024 3,012
At 31 August 2023 1,808
4 Debtors 2024 2023
£ £
Trade debtors 430,403 116,521
Amounts owed by group undertakings and undertakings in which the company has a participating interest 3,066 3,179
Other debtors 16,886 120,066
450,355 239,766
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,498 5,000
Trade creditors 68,274 97,413
Taxation and social security costs 57,125 7,871
Other creditors 193,722 161,026
327,619 271,310
6 Other information
TOP CONNECT LTD is a private company limited by shares and incorporated in England. Its registered office is:
St. James Tower
7 Charlotte Street
Manchester
M1 4DZ
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