REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
FOR |
|
TOPEK SOUTHERN LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
FOR |
|
TOPEK SOUTHERN LIMITED |
TOPEK SOUTHERN LIMITED (REGISTERED NUMBER: SC361395) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
TOPEK SOUTHERN LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Appledram Barns |
Birdham Road |
Chichester |
West Sussex |
PO20 7EQ |
TOPEK SOUTHERN LIMITED (REGISTERED NUMBER: SC361395) |
|
BALANCE SHEET |
31 AUGUST 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
|
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
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. |
TOPEK SOUTHERN LIMITED (REGISTERED NUMBER: SC361395) |
|
BALANCE SHEET - continued |
31 AUGUST 2021 |
|
|
|
|
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 Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
TOPEK SOUTHERN LIMITED (REGISTERED NUMBER: SC361395) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
|
1. | STATUTORY INFORMATION |
|
Topek Southern Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. |
|
Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
|
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
|
- | the amount of revenue can be measured reliably; |
- | it is probable that the Company will receive the consideration due under the contract; |
- | the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- | the costs incurred and the costs to complete the contract can be measured reliably. |
|
Grant income |
Grants that become receivable as compensation forexpensesor losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. |
|
Financial instruments |
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments. |
|
TOPEK SOUTHERN LIMITED (REGISTERED NUMBER: SC361395) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
|
2. | ACCOUNTING POLICIES - continued |
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 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. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
|
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. |
|
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account using the effective interest method. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
|
Employee benefits |
The costs of short-term employee benefits are recognised as a liability and an expense. |
|
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
|
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
TOPEK SOUTHERN LIMITED (REGISTERED NUMBER: SC361395) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2020 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
|
|
( |
) |
|
( |
) |
At 31 August 2021 |
|
|
|
|
|
DEPRECIATION |
At 1 September 2020 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
Eliminated on disposal |
|
|
( |
) |
|
( |
) |
At 31 August 2021 |
|
|
|
|
|
NET BOOK VALUE |
At 31 August 2021 |
|
|
|
|
|
At 31 August 2020 |
|
|
|
|
|
|
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows: |
|
2021 | 2020 |
£ | £ |
|
Motor vehicles | 220,577 | 18,871 |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Amounts recoverable on |
contracts |
|
|
Other debtors |
|
|
Prepayments and accrued income |
|
|
|
|
TOPEK SOUTHERN LIMITED (REGISTERED NUMBER: SC361395) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 8) |
|
|
Trade creditors |
|
|
Amounts payable on contracts | 1,344,215 | 1,425,370 |
Corporation Tax |
|
|
Social security and other taxes |
|
|
VAT | 312,497 | 419,689 |
Other creditors |
|
|
Obligations under finance |
lease and hire purchase | 72,727 | 25,219 |
Accruals and deferred income |
|
|
|
|
|
Obligations under finance lease and hire purchase contracts are secured on the assets being purchased. |
|
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 8) |
|
|
Obligations under finance |
lease and hire purchase | 143,785 | - |
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | - | 45,833 |
|
Obligations under finance lease and hire purchase contracts are secured on the assets being purchased. |
|
8. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
|
|
|
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
|
|
|
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | - | 45,833 |
TOPEK SOUTHERN LIMITED (REGISTERED NUMBER: SC361395) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
|
|
8. | LOANS - continued |
|
Bank loans comprise: |
Maturity date | Fixed interest | Monthly | Carrying amount |
rate | repayment | 2021 | 2020 |
£ | £ | £ |
Coronavirus business
interruption loan |
2026 |
3.19% |
4,167 |
|
245,833 |
|
250,000 |
|
9. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
10. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 79,570 | 24,076 |
|
Deferred tax |
£ |
Balance at 1 September 2020 |
|
Accelerate capital allowances | 55,494 |
Balance at 31 August 2021 |
|
|
The deferred tax rate used is 25% as set out in the government's Budget (2021: 19%). |