| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 |
| FOR |
| TOPLETS PROPERTY SERVICES LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 |
| FOR |
| TOPLETS PROPERTY SERVICES LIMITED |
| TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 |
| TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151) |
| BALANCE SHEET |
| 31 MARCH 2026 |
| 2026 | 2025 |
| As restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 12 |
| Retained earnings |
| 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 were approved by the Board of Directors and authorised for issue on |
| TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| 1. | STATUTORY INFORMATION |
| Toplets Property Services Limited is a |
| Registered number: |
| Registered office: |
| 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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
| Turnover |
| Turnover represents invoiced rentals and services falling due in the financial year. |
| Tangible fixed assets |
| 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 |
| 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. |
| 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 fair value reserve. |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES |
| The average number of employees during the year was |
| TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2025 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2025 |
| Additions |
| Revaluations | (687,393 | ) |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| £ |
| Valuation in 2016 | 289,415 |
| Valuation in 2017 | 160,000 |
| Valuation in 2018 | 433,676 |
| Valuation in 2019 | 164,621 |
| 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 | 6,493,802 |
| Valuation in 2026 | (668,694 | ) |
| Cost | 29,050,461 |
| 41,955,799 |
| If the investment properties had not been revalued they would have been included at the following historical cost |
| 2026 | 2025 |
| £ | £ |
| Cost | 29,050,461 | 28,381,767 |
| The investment properties were valued on an open market basis on 31 March 2026 by the directors. |
| TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| As restated |
| £ | £ |
| Other debtors |
| . |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| As restated |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| As restated |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2026 | 2025 |
| As restated |
| £ | £ |
| Net obligations repayable: |
| Within one year | 20,038 | 54,865 |
| Between one and five years | 120,630 | - |
| Balance at 31 March 2026 | 140,668 | 54,865 |
| 10. | SECURED DEBTS |
| Bank borrowings of £26,306,723 (2025: £25,000,511) are secured against the investment properties of the company. |
| TOPLETS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07191151) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| 11. | PROVISIONS FOR LIABILITIES |
| 2026 | 2025 |
| £ | £ |
| Deferred tax | 2,806,453 | 2,906,398 |
| At the reporting date, the company recognised a net deferred tax liability of £2,806,453, comprising: |
| Deferred |
| tax |
| £ |
| Deferred tax liability | 3,078,626 |
| Deferred tax asset | (271,173 | ) |
| Balance at 31 March 2026 | 2,806,453 |
| 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. |
| 12. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2025 |
| Revaluation | (514,559 | ) |
| At 31 March 2026 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As at 31 March 2025 the Directors owed the company £936,946 (2024: 619,059). A further £434,283 (2025: £326,260) was advanced during the year and £22,874 (2025: £25,683) was repaid. Interest was charged at a rate of 3.75% per annum which amounted to £42,849 (2025: £17,310). As at 31 March 2026 the amount owed to the company was £1,218,017 (2025: £936,946), which is repayable on demand. |
| 14. | PRIOR YEAR ADJUSTMENT |
| The prior year has been restated to reflect a correction in the amounts reported in retained earnings, other debtors, other creditors and the directors loan accounts. |
| As at 31 March 2025, retained earnings have increased by £9,101, other debtors have increased by £3,072, other creditors have increased by £3,072, and the directors' loan account balances have increased by £9,101. |