On Top Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09155255 (England and Wales)

Financial Statements

for the Year Ended 31 July 2017

for

ON TOP LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Zeff

I E Zeff

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

09155255 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Investments

4

1

1

Investment property

5

268,405

185,805

268,406

185,806

CURRENT ASSETS

Debtors

714

33,048

Cash at bank

4,375

1,503

5,089

34,551

CREDITORS

Amounts falling due within one year

1,833

-

NET CURRENT ASSETS

3,256

34,551

TOTAL ASSETS LESS CURRENT LIABILITIES

271,662

220,357

CREDITORS

Amounts falling due after more than one year

6

181,111

119,994

NET ASSETS

90,551

100,363

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

9

90,351

100,163

SHAREHOLDERS' FUNDS

90,551

100,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 May 2018 and were signed on its behalf by:

Mrs J Zeff - Director

I E Zeff - Director

1.	STATUTORY INFORMATION

On Top Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 August 2016

and 31 July 2017

1

NET BOOK VALUE

At 31 July 2017

1

At 31 July 2016

1

Cost or valuation at 31 July 2017 is represented by:

Totals

£

Valuation in 2017

1

Cost

1

2

**	TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF

UNLISTED INVESTMENTS

'COST' ACCOUNT TOTAL

Cost/valuation b/f

1

1

CLIENT SCREEN TOTAL

=

2

Market value of listed investments at 31 July 2017 - £ 1 .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2016

185,805

Additions

82,600

At 31 July 2017

268,405

NET BOOK VALUE

At 31 July 2017

268,405

At 31 July 2016

185,805

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.7.17

31.7.16

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

181,111

119,994

7.

LOANS

An analysis of the maturity of loans is given below:

31.7.17

31.7.16

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

181,111

119,994

Bank loans and overdrafts of £181,111 (2016: £119,994) are secured against investment

properties in which they relate.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.17

31.7.16

value:

£

£

1

A Class Ordinary

£1

1

1

1

B Class Ordinary

£1

1

1

1

C Class Ordinary

£1

1

1

1

D Class Ordinary

£1

1

1

98

E Class Ordinary

£1

98

98

98

F Class Ordinary

£1

98

98

200

200

9.

RESERVES

Retained

earnings

£

At 1 August 2016

100,163

Profit for the year

37,988

Dividends

(47,800

)

At 31 July 2017

90,351

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, included in other creditors is an interest free loan due to the

directors of £278 (2016 due from: £33,048).

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £47,800 were paid to the directors .