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REGISTERED NUMBER: 10193944 (England and Wales)












FINANCIAL STATEMENTS

FOR THE PERIOD 29 JUNE 2023 TO 27 JUNE 2024

FOR

TOP SPEC GROUP LTD

TOP SPEC GROUP LTD (REGISTERED NUMBER: 10193944)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 JUNE 2023 TO 27 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOP SPEC GROUP LTD

COMPANY INFORMATION
FOR THE PERIOD 29 JUNE 2023 TO 27 JUNE 2024







DIRECTOR: D C Lynch





REGISTERED OFFICE: Turnpike House
1208 / 1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 10193944 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

TOP SPEC GROUP LTD (REGISTERED NUMBER: 10193944)

BALANCE SHEET
27 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 122,241 98,567
Investment property 5 243,774 243,774
366,015 342,341

CURRENT ASSETS
Debtors 6 225,979 42,255
Cash at bank 1,590 17,251
227,569 59,506
CREDITORS
Amounts falling due within one year 7 80,328 233,504
NET CURRENT ASSETS/(LIABILITIES) 147,241 (173,998 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

513,256

168,343

CREDITORS
Amounts falling due after more than one
year

8

(443,939

)

(98,184

)

PROVISIONS FOR LIABILITIES (8,726 ) (8,726 )
NET ASSETS 60,591 61,433

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Revaluation reserve 9 144,280 144,280
Retained earnings (87,689 ) (86,847 )
SHAREHOLDERS' FUNDS 60,591 61,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 SPEC GROUP LTD (REGISTERED NUMBER: 10193944)

BALANCE SHEET - continued
27 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 June 2025 and were signed by:





D C Lynch - Director


TOP SPEC GROUP LTD (REGISTERED NUMBER: 10193944)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 JUNE 2023 TO 27 JUNE 2024

1. STATUTORY INFORMATION

Top Spec Group Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

TOP SPEC GROUP LTD (REGISTERED NUMBER: 10193944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 JUNE 2023 TO 27 JUNE 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 29 June 2023 8,330 136,491 144,821
Additions - 37,499 37,499
At 27 June 2024 8,330 173,990 182,320
DEPRECIATION
At 29 June 2023 6,146 40,108 46,254
Charge for period 437 13,388 13,825
At 27 June 2024 6,583 53,496 60,079
NET BOOK VALUE
At 27 June 2024 1,747 120,494 122,241
At 28 June 2023 2,184 96,383 98,567

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 29 June 2023 59,360
Additions 37,499
At 27 June 2024 96,859
DEPRECIATION
At 29 June 2023 9,256
Charge for period 8,760
At 27 June 2024 18,016
NET BOOK VALUE
At 27 June 2024 78,843
At 28 June 2023 50,104

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 June 2023
and 27 June 2024 243,774
NET BOOK VALUE
At 27 June 2024 243,774
At 28 June 2023 243,774

TOP SPEC GROUP LTD (REGISTERED NUMBER: 10193944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 JUNE 2023 TO 27 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,044 11,341
Other debtors 221,935 30,914
225,979 42,255

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,200 4,200
Other loans 46,688 -
Hire purchase contracts 15,264 10,852
Tax 753 753
Social security and other taxes 2,951 2,771
Other creditors 7,792 212,998
Directors' current accounts 730 1,780
Accrued expenses 1,950 150
80,328 233,504

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 3,850 8,050
Other loans - 2-5 years 353,780 -
Mortgage 59,339 65,272
Hire purchase contracts 26,970 24,862
443,939 98,184

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage 59,339 65,272

9. RESERVES
Revaluation
reserve
£   
At 29 June 2023
and 27 June 2024 144,280