REGISTERED NUMBER: 01516938 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Top Gem Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

R Davis

REGISTERED OFFICE:

c/o Parker Cavendish, Suite 301

Stanmore Business and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

REGISTERED NUMBER:

01516938 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

Suite 301, Stanmore Business

and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

FIXED ASSETS

Property, plant and equipment

4

-

-

Investment property

5

700,000

740,000

700,000

740,000

CURRENT ASSETS

Debtors

6

16,189

19,991

Cash at bank

32,224

10,078

48,413

30,069

CREDITORS

Amounts falling due within one year

7

24,387

27,279

NET CURRENT ASSETS

24,026

2,790

TOTAL ASSETS LESS CURRENT LIABILITIES

724,026

742,790

PROVISIONS FOR LIABILITIES

92,583

102,583

NET ASSETS

631,443

640,207

CAPITAL AND RESERVES

Called up share capital

27

27

Capital redemption reserve

8

60,126

60,126

Retained earnings

8

571,290

580,054

SHAREHOLDERS' FUNDS

631,443

640,207

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 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 December 2025 and were signed by:

R Davis - Director

1.	STATUTORY INFORMATION

Top Gem Limited 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 as modified by the revaluation of certain assets.

Tangible fixed assets

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

Plant and machinery

-

25% Straight line

Fixtures and fittings

-

25% Straight line

Investment property

Investment property is revalued annually and the aggregate surplus or deficit arising from changes in

market value is transferred to retained earnings. Depreciation is not provided in respect of the

investment property. This is a departure from the Companies Act which requires all properties to be

depreciated. The properties are not held for consumption but for investment and the directors consider

that to depreciate them would not give a true and fair view.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

2,023

3,516

5,539

DEPRECIATION

At 1 April 2024

and 31 March 2025

2,023

3,516

5,539

NET BOOK VALUE

At 31 March 2025

-

-

-

At 31 March 2024

-

-

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

740,000

Revaluations

(40,000

)

At 31 March 2025

700,000

NET BOOK VALUE

At 31 March 2025

700,000

At 31 March 2024

740,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2011

40,000

Valuation in 2017

550,000

Valuation in 2018

100,000

Valuation in 2019

(80,000

)

Valuation in 2020

(100,000

)

Valuation in 2021

(40,000

)

Valuation in 2022

70,000

Valuation in 2023

90,000

Valuation in 2025

(40,000

)

Cost

110,000

700,000

If the investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

110,000

110,000

The investment property was valued on an open market basis on 31 March 2023 by Hindwoods Chartered Surveyors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

14,991

19,991

Prepayments and accrued income

1,198

-

16,189

19,991

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

5,951

2,195

Directors' current accounts

13,930

15,330

Accruals and deferred income

(3,504

)

-

Accrued expenses

8,010

9,754

24,387

27,279

8.

RESERVES

The retained earnings of £571,290 (2024: £580,054) comprise of distributable reserves of £73,873 (2024: £52,637) and non-distributable reserves of £497,417 (2024: £527,417) which relate to property revaluations less related deferred tax provision.