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Registration number: 12485606

Temple Green Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Temple Green Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Temple Green Properties Limited

Company Information

Director

Mr John Steven Squires

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Temple Green Properties Limited

(Registration number: 12485606)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

251

-

Investment property

6

205,000

170,000

 

205,251

170,000

Current assets

 

Debtors

7

-

1,029

Cash at bank and in hand

 

30,973

1,337

 

30,973

2,366

Creditors: Amounts falling due within one year

8

(14,927)

(14,321)

Net current assets/(liabilities)

 

16,046

(11,955)

Total assets less current liabilities

 

221,297

158,045

Creditors: Amounts falling due after more than one year

8

(153,169)

(113,360)

Provisions for liabilities

(15,943)

(9,293)

Net assets

 

52,185

35,392

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

67,967

39,617

Retained earnings

(15,882)

(4,325)

Shareholders' funds

 

52,185

35,392

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 15 August 2023
 

 

Temple Green Properties Limited

(Registration number: 12485606)
Balance Sheet as at 28 February 2023 (continued)

.........................................
Mr John Steven Squires
Director

 

Temple Green Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT

These financial statements were authorised for issue by the director on 15 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Temple Green Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

84

-

 

Temple Green Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

335

335

At 28 February 2023

335

335

Depreciation

Charge for the year

84

84

At 28 February 2023

84

84

Carrying amount

At 28 February 2023

251

251

6

Investment properties

2023
£

At 1 March

170,000

Fair value adjustments

35,000

At 28 February

205,000

The fair value of the properties at 28 February 2023 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The total valuations of £205,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

debtors

Current

2023
£

2022
£

Trade debtors

-

1,029

 

Temple Green Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

1,194

Accruals and deferred income

540

540

Other creditors

14,387

12,587

14,927

14,321

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

153,169

113,360

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

23,438

25,000

Other borrowings

129,731

88,360

153,169

113,360