Registration number:
TOP ACTIVE LTD
for the Year Ended 30 September 2024
TOP ACTIVE LTD
Contents
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Company Information |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
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Detailed Profit and Loss Account |
TOP ACTIVE LTD
Company Information
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Director |
Mr Lieon Adolf Roth |
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Registered office |
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Auditors |
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TOP ACTIVE LTD
Director's Report for the Year Ended 30 September 2024
The director presents his report and the financial statements for the year ended 30 September 2024.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is wholesale grocers.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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......................................... |
TOP ACTIVE LTD
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
TOP ACTIVE LTD
Independent Auditor's Report to the Members of TOP ACTIVE LTD
Opinion
We have audited the financial statements of TOP ACTIVE LTD (the 'company') for the year ended 30 September 2024, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
TOP ACTIVE LTD
Independent Auditor's Report to the Members of TOP ACTIVE LTD
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Director's Report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit; or |
• | the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 3], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
TOP ACTIVE LTD
Independent Auditor's Report to the Members of TOP ACTIVE LTD
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
• Enquiry of management, those charged with governance around actual and potential litigation and claims;
• Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
• Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• Performing audit work over the risk of management override on controls, including testing of journal entries and other adjustments for appropriateness and reveiwing accounting estimates for bias;
• We performed analytical procedues to identify any unusual or unexpected relationships;
• Reading the minutes of meetings of those charged with governance.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregulaties, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
1 Hallswelle Road
London NW11 0DH
TOP ACTIVE LTD
Profit and Loss Account for the Year Ended 30 September 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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|
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Administrative expenses |
( |
( |
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Other operating income |
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|
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Operating profit |
241,117 |
265,622 |
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
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Tax on profit |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
TOP ACTIVE LTD
Statement of Comprehensive Income for the Year Ended 30 September 2024
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2024 |
2023 |
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Profit for the year |
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Total comprehensive income for the year |
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TOP ACTIVE LTD
(Registration number: 03974176)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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|
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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|
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Capital and reserves |
|||
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Called up share capital |
200 |
200 |
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Retained earnings |
1,060,866 |
974,376 |
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|
Shareholders' funds |
1,061,066 |
974,576 |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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TOP ACTIVE LTD
Statement of Changes in Equity for the Year Ended 30 September 2024
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Share capital |
Profit and loss account |
Total |
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At 1 October 2023 |
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|
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
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At 30 September 2024 |
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|
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Share capital |
Retained earnings |
Total |
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At 1 October 2022 |
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Profit for the year |
- |
|
|
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Dividends |
- |
( |
( |
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At 30 September 2023 |
200 |
974,376 |
974,576 |
TOP ACTIVE LTD
Notes to the Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
TOP ACTIVE LTD
Notes to the Financial Statements for the Year Ended 30 September 2024
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
10% on reducing balance |
|
Other fixtures and equipment |
25% on reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
TOP ACTIVE LTD
Notes to the Financial Statements for the Year Ended 30 September 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
TOP ACTIVE LTD
Notes to the Financial Statements for the Year Ended 30 September 2024
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Auditors' remuneration |
|
2024 |
2023 |
|
|
Audit of the financial statements |
|
|
TOP ACTIVE LTD
Notes to the Financial Statements for the Year Ended 30 September 2024
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
|
|
Cost or valuation |
|||||
|
At 1 October 2023 |
|
|
|
|
|
|
Additions |
- |
|
|
- |
|
|
Disposals |
- |
- |
( |
- |
( |
|
At 30 September 2024 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 October 2023 |
- |
|
|
|
|
|
Charge for the year |
- |
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
- |
( |
|
At 30 September 2024 |
- |
|
|
|
|
|
Carrying amount |
|||||
|
At 30 September 2024 |
|
|
|
|
|
|
At 30 September 2023 |
|
|
|
|
|
Included within the net book value of land and buildings above is £792,451 (2023 - £792,451) in respect of freehold land and buildings.
TOP ACTIVE LTD
Notes to the Financial Statements for the Year Ended 30 September 2024
|
Stocks |
|
2024 |
2023 |
|
|
Other inventories |
|
|
|
Debtors |
|
Current |
2024 |
2023 |
|
Trade debtors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
TOP ACTIVE LTD
Notes to the Financial Statements for the Year Ended 30 September 2024
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Taxation and social security |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Other creditors |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
Note |
2024 |
2023 |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Loans and borrowings |
Non-current loans and borrowings
|
2024 |
2023 |
|
|
Hire purchase contracts |
|
|
|
Other borrowings |
|
|
|
|
|
|
Current loans and borrowings
|
2024 |
2023 |
|
|
Bank overdrafts |
|
|
|
Hire purchase contracts |
|
|
|
Other borrowings |
|
|
|
|
|
|
TOP ACTIVE LTD
Detailed Profit and Loss Account for the Year Ended 30 September 2024
|
2024 |
2023 |
|
|
turnover (analysed below) |
11,807,420 |
11,031,021 |
|
Cost of sales (analysed below) |
(9,512,994) |
(8,796,471) |
|
Gross profit |
2,294,426 |
2,234,550 |
|
Administrative expenses |
||
|
Employment costs (analysed below) |
(896,292) |
(914,624) |
|
Establishment costs (analysed below) |
(442,658) |
(399,958) |
|
General administrative expenses (analysed below) |
(509,407) |
(499,906) |
|
Finance charges (analysed below) |
(174,843) |
(129,764) |
|
Depreciation costs (analysed below) |
(27,643) |
(27,676) |
|
Other expenses (analysed below) |
(5,466) |
- |
|
(2,056,309) |
(1,971,928) |
|
|
Other operating income (analysed below) |
3,000 |
3,000 |
|
Operating profit |
241,117 |
265,622 |
|
Interest payable and similar expenses (analysed below) |
(105,184) |
(103,866) |
|
Profit before tax |
135,933 |
161,756 |
TOP ACTIVE LTD
Detailed Profit and Loss Account for the Year Ended 30 September 2024
|
2024 |
2023 |
|
Turnover |
||
|
Sales |
11,807,420 |
11,031,021 |
|
Cost of sales |
||
|
Opening stock |
2,145,028 |
1,749,433 |
|
Purchases |
8,424,910 |
8,479,959 |
|
Closing stock |
(1,753,578) |
(2,145,027) |
|
Freight and carriage |
693,415 |
671,245 |
|
Commissions payable |
3,219 |
40,861 |
|
9,512,994 |
8,796,471 |
|
Employment costs |
||
|
Wages and salaries (excluding directors) |
793,488 |
784,467 |
|
Staff NIC (Employers) |
66,632 |
68,800 |
|
Directors remuneration |
12,000 |
41,334 |
|
Staff pensions (Defined contribution) |
14,687 |
13,201 |
|
Private health insurance |
9,485 |
6,822 |
|
896,292 |
914,624 |
|
Establishment costs |
||
|
Rent |
89,000 |
85,000 |
|
Rates and water |
73,156 |
62,972 |
|
Light and heat |
97,880 |
92,403 |
|
Insurance |
30,470 |
27,382 |
|
Service charges |
12,443 |
11,682 |
|
Repairs and maintenance |
109,427 |
89,570 |
|
Computer supplies |
30,282 |
30,949 |
|
442,658 |
399,958 |
|
General administrative expenses |
||
|
Telephone |
17,071 |
20,256 |
|
Printing, postage and stationery |
14,521 |
21,080 |
|
Charitable donations |
67,508 |
85,312 |
|
Hire of plant and machinery (Operating leases) |
15,596 |
16,380 |
|
Sundry expenses |
3,552 |
3,696 |
|
Motor and travel |
227,005 |
241,129 |
|
Advertising and marketing |
20,910 |
20,958 |
|
Accountancy fees |
15,750 |
15,000 |
|
Auditor's remuneration - The audit of the company's annual accounts |
7,000 |
7,000 |
|
Legal and professional fees |
119,545 |
27,010 |
|
Bad debts written off |
949 |
42,085 |
|
509,407 |
499,906 |
TOP ACTIVE LTD
Detailed Profit and Loss Account for the Year Ended 30 September 2024
|
2024 |
2023 |
|
Finance charges |
||
|
Factoring charges |
98,898 |
79,491 |
|
Bank charges |
75,945 |
50,273 |
|
174,843 |
129,764 |
|
Depreciation costs |
||
|
Depreciation of plant and machinery (owned) |
6,268 |
7,041 |
|
Depreciation of fixtures and fittings (owned) |
7,947 |
7,012 |
|
Depreciation of motor vehicles (owned) |
11,736 |
11,451 |
|
Depreciation of office equipment (owned) |
1,692 |
2,172 |
|
27,643 |
27,676 |
|
Other expenses |
||
|
(Profit)/loss on disposal of tangible fixed assets |
5,466 |
- |
|
Other operating income |
||
|
Management charges receivable |
3,000 |
3,000 |
|
Interest payable and similar expenses |
||
|
Bank interest payable |
2,750 |
618 |
|
Bank loan interest payable |
86,877 |
75,342 |
|
Hire purchase interest |
1,556 |
3,417 |
|
Other loan interest |
16,000 |
18,667 |
|
Foreign currency (gains)/losses |
(1,999) |
5,822 |
|
105,184 |
103,866 |