Registration number: 10610560

Top Bits Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Top Bits Ltd

(Registration number: 10610560)
Statement of Financial Position
31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	94,823	87,868
Current assets
Debtors	5	10,798	29,210
Creditors: Amounts falling due within one year	6	(83,783)	(99,133)
Net current liabilities		(72,985)	(69,923)
Total assets less current liabilities		21,838	17,945
Creditors: Amounts falling due after more than one year	6	(508)	(681)
Net assets		21,330	17,264
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		20,330	16,264
Shareholders' funds		21,330	17,264

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2025
 

Top Bits Ltd

(Registration number: 10610560)
Statement of Financial Position
31 December 2024

......................................... G Drakopoulos Director

Top Bits Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Wiston House
1 Wiston Avenue
Worthng
West Sussex
BN14 7QL

These financial statements were authorised for issue by the director on 25 September 2025.

2	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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Top Bits Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

Tax

The tax expense for the period comprises current 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.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class	Depreciation method and rate
Motor vehicle	over 1 year
Office equipment	over 1 year
Freehold Property	over 35 years

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.

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.

Top Bits Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	80,771	7,139	11,181	99,091
Additions	9,044	554	-	9,598
At 31 December 2024	89,815	7,693	11,181	108,689
Depreciation
At 1 January 2024	4,266	3,295	3,662	11,223
Charge for the year	778	668	1,197	2,643
At 31 December 2024	5,044	3,963	4,859	13,866
Carrying amount
At 31 December 2024	84,771	3,730	6,322	94,823
At 31 December 2023	76,505	3,844	7,519	87,868

Included within the net book value of land and buildings above is £84,770 (2023 - £76,505) in respect of freehold land and buildings.
 

5

Debtors

Top Bits Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

Current	2024 £	2023 £
Trade debtors	2,875	1,699
Other debtors	7,923	27,511
	10,798	29,210

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Other creditors	83,783	99,133

Creditors: amounts falling due after more than one year

	2024 £	2023 £
Due after one year
Other financial liabilities	508	681

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Retained earnings £	Total £
Foreign currency translation gains/losses	3,270	3,270

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Retained earnings £	Total £
Foreign currency translation gains/losses	(269)	(269)