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31/01/2023
2023-01-31
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No description of principal activities is disclosed
2022-02-01
Sage Accounts Production 21.0 - FRS102_2021
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Company registration number:
12489933
Temporary Solutions Holdings Limited
Unaudited filleted financial statements
31 January 2023
Temporary Solutions Holdings Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Temporary Solutions Holdings Limited
Directors and other information
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Directors |
Mr S Trollope |
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Mrs E Trollope |
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Company number |
12489933 |
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Registered office |
Cholmondeley House |
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Dee Hills Park |
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Chester |
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Cheshire |
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CH3 5AR |
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Accountants |
Hargreaves & Woods |
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Cholmondeley House |
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Dee Hills Park |
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Chester |
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Cheshire |
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CH3 5AR |
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Temporary Solutions Holdings Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Temporary Solutions Holdings Limited
Year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Temporary Solutions Holdings Limited for the year ended 31 January 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Temporary Solutions Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Temporary Solutions Holdings Limited and state those matters that we have agreed to state to the board of directors of Temporary Solutions Holdings Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Temporary Solutions Holdings Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Temporary Solutions Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Temporary Solutions Holdings Limited. You consider that Temporary Solutions Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Temporary Solutions Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hargreaves & Woods
Chartered Accountants
Cholmondeley House
Dee Hills Park
Chester
Cheshire
CH3 5AR
Temporary Solutions Holdings Limited
Statement of financial position
31 January 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Investments |
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5 |
2,055,847 |
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2,055,847 |
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_______ |
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_______ |
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2,055,847 |
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2,055,847 |
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Current assets |
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Debtors |
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6 |
1 |
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1 |
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_______ |
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_______ |
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1 |
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1 |
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Net current assets |
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1 |
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1 |
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_______ |
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_______ |
Total assets less current liabilities |
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2,055,848 |
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2,055,848 |
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_______ |
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_______ |
Net assets |
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2,055,848 |
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2,055,848 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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3 |
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3 |
Share premium account |
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1,043,285 |
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1,043,285 |
Merger Relief Reserve |
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1,012,560 |
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1,012,560 |
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_______ |
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_______ |
Shareholders funds |
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2,055,848 |
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2,055,848 |
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_______ |
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_______ |
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For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
10 October 2023
, and are signed on behalf of the board by:
Mr S Trollope
Director
Company registration number:
12489933
Temporary Solutions Holdings Limited
Notes to the financial statements
Year ended 31 January 2023
1.
General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Cholmondeley House, Dee Hills Park, Chester, Cheshire, CH3 5AR.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at fair value and subsequently stated at fair value less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Business combinations
The cost of a business combination is measured at the fair value of the shares, which is determined by the directors, at the acquisition date, plus any costs directly attributable to the business combination.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Investments
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Shares in group undertakings and participating interests |
Total |
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£ |
£ |
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Cost |
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At 1 February 2022 and 31 January 2023 |
2,055,847 |
2,055,847 |
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_______ |
_______ |
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Impairment |
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At 1 February 2022 and 31 January 2023 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 January 2023 |
2,055,847 |
2,055,847 |
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_______ |
_______ |
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At 31 January 2022 |
2,055,847 |
2,055,847 |
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_______ |
_______ |
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6.
Debtors
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2023 |
2022 |
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£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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1 |
1 |
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_______ |
_______ |
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7.
Business combinations
On 3rd December 2021 a group re-organisation occurred, whereby all of the shares of Temporary Storage Company Ltd and the shares held by the directors in common with Temporary Solutions Holdings Ltd of Temporary Kitchen Company Ltd were transferred to Temporary Solutions Group Ltd in exchange for an issue of shares in Temporary Solutions Group Ltd. Further to this transfer Temporary Solutions Group Ltd then transferred the share holdings acquired in Temporary Storage Company Ltd and Temporary Kitchen Company Ltd to Temporary Solutions Holdings Ltd in exchange for an issue of shares in Temporary Solutions Holdings Ltd.