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REGISTERED NUMBER: 07191151 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

TOPLETS PROPERTY SERVICES LIMITED

TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Balance Sheet 1

Notes to the Financial Statements 2


TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 327,182 279,273
Investment property 5 41,955,799 30,115,999
42,282,981 30,395,272

CURRENT ASSETS
Debtors 6 2,807,632 2,263,013
Cash at bank 15,183 58,231
2,822,815 2,321,244
CREDITORS
Amounts falling due within one year 7 3,492,294 1,952,467
NET CURRENT (LIABILITIES)/ASSETS (669,479 ) 368,777
TOTAL ASSETS LESS CURRENT LIABILITIES 41,613,502 30,764,049

CREDITORS
Amounts falling due after more than one year 8 (24,790,263 ) (20,828,010 )

PROVISIONS FOR LIABILITIES 11 (2,906,398 ) (1,613,039 )
NET ASSETS 13,916,841 8,323,000

CAPITAL AND RESERVES
Called up share capital 1,736,116 1,736,116
Fair value reserve 12 10,278,157 5,407,813
Retained earnings 12 1,902,568 1,179,071
13,916,841 8,323,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by:





R L Record - Director


TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Toplets Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07191151

Registered office: 3rd Floor
21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents invoiced rentals and services falling due in the financial year.

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Plant and machinery - 25% on cost
Fixtures and fittings- 25% on cost
Motor vehicles- 25% on reducing balance
Computer equipment- 25% on cost

Investment property
Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes purchase cost and directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss and then transferred to a revaluation reserve.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded attransaction price. Any losses arising from impairment are recognised in the profit and loss account in otheradministrative expenses.

Taxation
Taxation for the year 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 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.

3. EMPLOYEES

The average number of employees during the year was 3 (2024 - 3 ) .

TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 2,897 401,244 132,321 6,782 543,244
Additions - 169,556 - 2,116 171,672
Disposals - (3,448 ) - (1,493 ) (4,941 )
At 31 March 2025 2,897 567,352 132,321 7,405 709,975
DEPRECIATION
At 1 April 2024 2,179 196,466 59,532 5,794 263,971
Charge for year 296 103,082 18,198 1,058 122,634
Eliminated on disposal - (2,319 ) - (1,493 ) (3,812 )
At 31 March 2025 2,475 297,229 77,730 5,359 382,793
NET BOOK VALUE
At 31 March 2025 422 270,123 54,591 2,046 327,182
At 31 March 2024 718 204,778 72,789 988 279,273

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 30,115,999
Additions 5,345,998
Revaluations 6,493,802
At 31 March 2025 41,955,799
NET BOOK VALUE
At 31 March 2025 41,955,799
At 31 March 2024 30,115,999

Fair value at 31 March 2025 is represented by:
£   
Valuation in 2016 289,415
Valuation in 2017 160,000
Valuation in 2018 433,676
Valuation in 2019 164,620
Valuation in 2020 726,278
Valuation in 2021 1,082,747
Valuation in 2022 2,526,501
Valuation in 2023 351,495
Valuation in 2024 1,344,183
Valuation in 2025 6,541,152
Cost 28,335,732
41,955,799

If the investment properties had not been revalued they would have been included at the following historical cost:

2025 2024
£    £   
Cost 28,335,732 23,037,084

The investment properties were valued on an open market basis on 31 March 2025 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 2,807,632 2,263,013

TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 2,347,749 10,000
Hire purchase contracts (see note 9) 54,865 14,096
Trade creditors 5,325 1,864
Taxation and social security 104,224 39,666
Other creditors 980,131 1,886,841
3,492,294 1,952,467

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 22,665,262 20,621,687
Hire purchase contracts (see note 9) - 54,865
Other creditors 2,125,001 151,458
24,790,263 20,828,010

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 22,662,762 20,609,187

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025 2024
£    £   
Net obligations repayable:
Within one year 54,865 14,096
Between one and five years - 54,865
54,865 68,961

10. SECURED DEBTS

Bank borrowings of £25,000,511 (2024: £20,609,188) are secured against the investment properties of the company.

11. PROVISIONS FOR LIABILITIES

20252024
££
Deferred tax2,906,3981,613,039



At the reporting date, the company recognised a net deferred tax liability of £2,906,398, comprising:


Deferred
tax
£
Deferred tax liability3,224,643
Deferred tax asset(318,245)
Balance at 31 March 20252,906,398

The deferred tax asset and liability have been offset on the balance sheet as they relate to income taxes levied by the same taxation authority and the company has a legally enforceable right to offset current tax assets against current tax liabilities.

Deferred tax now includes the tax liability that would be due if the revalued investment properties were sold at their market values.

TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2024 1,179,071 5,407,813 6,586,884
Profit for the year 5,618,609 5,618,609
Dividends (24,768 ) (24,768 )
Revaluation (4,870,344 ) 4,870,344 -
At 31 March 2025 1,902,568 10,278,157 12,180,725

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 March 2024 the Directors owed the company £619,058 (2024: 503,334). A further £326,260 (2023: £391,256) was advanced during the year and £9,915 (2023: £288,018) was repaid. Interest was charged at a rate of 2.25% per annum which amounted to £17,488 (2023: £12,486). As at 31 March 2025 the amount owed to the company was £952,891(2023: £619,058), which is repayable on demand.