Company Registration No. 10714259 (England and Wales)
TOP BUTTON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021
PAGES FOR FILING WITH REGISTRAR
TOP BUTTON LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
TOP BUTTON LTD
BALANCE SHEET
AS AT
31 JANUARY 2021
31 January 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
314,160
166,543
Current assets
Stocks
62,500
18,047
Debtors
4
516,166
237,191
Cash at bank and in hand
39,992
2,910
618,658
258,148
Creditors: amounts falling due within one year
5
(896,211)
(340,037)
Net current liabilities
(277,553)
(81,889)
Total assets less current liabilities
36,607
84,654
Creditors: amounts falling due after more than one year
6
(50,000)
Net (liabilities)/assets
(13,393)
84,654
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(13,493)
84,554
Total equity
(13,393)
84,654
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
TOP BUTTON LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2021
31 January 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 January 2022
Mr P Christophi
Director
Company Registration No. 10714259
TOP BUTTON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021
- 3 -
1
Accounting policies
Company information
Top Button Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
The Cliff Hotel, Cliff Hill, Gorleston on Sea, Great Yarmouth, Norfolk, England, NR31 6DH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
- 20% reducing balance
Fixtures and fittings
- 20% reducing balance
Computers
- 33% straight line
Motor vehicles
- 25% reducing balance
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
TOP BUTTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
110
62
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2020
215,392
Additions
189,417
At 31 January 2021
404,809
Depreciation and impairment
At 1 February 2020
48,849
Depreciation charged in the year
41,800
At 31 January 2021
90,649
Carrying amount
At 31 January 2021
314,160
At 31 January 2020
166,543
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
516,166
237,191
TOP BUTTON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2021
- 5 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
287,311
125,681
Taxation and social security
269,914
139,217
Other creditors
338,986
75,139
896,211
340,037
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
50,000