Top Twenty Finance Limited - Period Ending 2016-09-30

Registration number: 01623680

Top Twenty Finance Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Top Twenty Finance Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Top Twenty Finance Limited
(Registration number: 01623680)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1			1
Current assets
Debtors		3			2,458			38,189
Cash at bank and in hand					236,884			180,318
					239,342			218,507
Creditors: Amounts falling due within one year					(205,755)			(169,165)
Net current assets					33,587			49,342
Net assets					33,588			49,343
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					33,488			49,243
Shareholders' funds					33,588			49,343

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 15 December 2016 and signed on its behalf by:

.........................................
R M Brown
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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Top Twenty Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents commission earned on finance arranged, lease payments receivable under operating leases and interest earned under hire purchase and similar contracts.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	Over length of lease
Office equipment	33% on cost

Hire purchase and leasing

Assets held for use in operating leases are included as a separate category in fixed assets at cost and depreciated over their useful life. Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Amounts due under finance leases are included as a debtor at the amount of the net investment in the lease. Lease payments receivable are apportioned between repayments of capital and interest so as to give a constant periodic rate of return on the net cash investment in the lease.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		1,050			1,050
At 30 September 2016		1,050			1,050
Depreciation
At 1 October 2015		1,049			1,049
At 30 September 2016		1,049			1,049
Net book value
At 30 September 2016		1			1
At 30 September 2015		1			1

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Top Twenty Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

3

Debtors

Included in amounts receivable under hire purchase and similar contracts is £nil (2015 - £1,900) receivable after more than one year.

 

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
S Brown
Loan from director	118,050	-	118,050	-

Interest of £18,000 was charged on the loan during the year.

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