Topex Wholesalers Limited - Filleted accounts

Registered number

01840081

Topex Wholesalers Limited

Filleted Accounts

31 December 2025

Topex Wholesalers Limited
Registered number:		01840081
Balance Sheet
as at 31 December 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		1,062,852			1,120,326

Current assets
Stocks		78,259			73,440
Debtors	4	4,678,737			4,626,211
Cash at bank and in hand		512,925			526,953
		5,269,921			5,226,604

Creditors: amounts falling due within one year	5	(317,295)			(263,001)

Net current assets			4,952,626			4,963,603

Total assets less current liabilities			6,015,478			6,083,929

Creditors: amounts falling due after more than one year	6		(990,754)			(1,065,492)



Net assets			5,024,724			5,018,437

Capital and reserves
Called up share capital			25,000			25,000
Profit and loss account			4,999,724			4,993,437

Shareholders' funds			5,024,724			5,018,437

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Kalpesh J Mehta
Director
Approved by the board on 2 July 2026

Topex Wholesalers Limited
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					15		15


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2025	1,882,441		230,932		44,105		2,157,478
	Additions	-		1,061		-		1,061
	At 31 December 2025	1,882,441		231,993		44,105		2,158,539

	Depreciation
	At 1 January 2025	831,980		194,146		11,026		1,037,152
	Charge for the year	37,649		12,616		8,270		58,535
	At 31 December 2025	869,629		206,762		19,296		1,095,687

	Net book value
	At 31 December 2025	1,012,812		25,231		24,809		1,062,852
	At 31 December 2024	1,050,461		36,786		33,079		1,120,326


4	Debtors					2025		2024
£							£

	Trade debtors					52,239		14,928
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					4,626,498		4,611,283
						4,678,737		4,626,211


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					66,694		66,694
	Trade creditors					66,375		69,994
	Taxation and social security costs					66,367		37,167
	Other creditors					117,859		89,146
						317,295		263,001


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					990,754		1,065,492


7	Loans					2025		2024
£							£
	Creditors include:
	Instalments falling due for payment after more than five years					683,761		798,717


	Secured bank loans					1,057,448		1,132,186

	Bank loans are secured by fixed charges on freehold properties and by a debenture on all the assets of the company.


8	Related party transactions

	The company is a wholly owned subsidiary of Topex Holdings Ltd. As stated in Note 4 of the accounts above, the company is owed £4,486,498 by a fellow subsidiary company of the group, Topex Properties Ltd and £140,000 by Topex Holdings Ltd.


9	Controlling party

	On 3rd November 2019 Topex Holdings Ltd acquired the entire issued share capital of the company in exchange for the issue of its own shares in proportion to the shares owned in Topex Wholesalers Ltd. The Company is thus now a wholly owned subsidiary company of Topex Holdings Ltd. Mr Kalpesh J Mehta and Mrs Bhavna K Mehta own the same proportion of shares in Topex Holdings Ltd as they did in Topex Wholesalers Ltd.


10	Other information

	Topex Wholesalers Limited is a private company limited by shares and incorporated in England. Its registered office is:
	107-109 Ealing Road,
	Wembley,
	Middlesex,
	HA0 4BP