Company registration number 04614707 (England and Wales)
TEMPLETON WALKER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
TEMPLETON WALKER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
TEMPLETON WALKER LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
77,084
86,334
Tangible assets
5
3,432
4,734
80,516
91,068
Current assets
Stocks
1,450
67,242
Debtors
6
118,084
80,727
Cash at bank and in hand
668,607
696,870
788,141
844,839
Creditors: amounts falling due within one year
7
(329,486)
(391,621)
Net current assets
458,655
453,218
Total assets less current liabilities
539,171
544,286
Creditors: amounts falling due after more than one year
8
(525,202)
(529,815)
Provisions for liabilities
(547)
(771)
Net assets
13,422
13,700
Capital and reserves
Called up share capital
9
10,000
10,000
Profit and loss reserves
3,422
3,700
Total equity
13,422
13,700

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TEMPLETON WALKER LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 22 November 2023 and are signed on its behalf by:
Mr M J Gibb
Mr D A Kaye
Director
Director
Company Registration No. 04614707
TEMPLETON WALKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Templeton Walker Limited is a private company limited by shares incorporated in England and Wales. The registered office is Clovers, Church Street, Bowerchalke, Salisbury, Wiltshire, United Kingdom, SP5 5BE.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
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:

Computers
33 1/3 Straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

TEMPLETON WALKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

TEMPLETON WALKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
7
TEMPLETON WALKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
185,000
Amortisation and impairment
At 1 April 2022
98,666
Amortisation charged for the year
9,250
At 31 March 2023
107,916
Carrying amount
At 31 March 2023
77,084
At 31 March 2022
86,334
5
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
998
28,659
29,657
Depreciation and impairment
At 1 April 2022
139
24,784
24,923
Depreciation charged in the year
333
969
1,302
At 31 March 2023
472
25,753
26,225
Carrying amount
At 31 March 2023
526
2,906
3,432
At 31 March 2022
859
3,875
4,734
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,613
1,410
Other debtors
116,471
79,317
118,084
80,727
TEMPLETON WALKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
4,613
5,556
Trade creditors
54,799
23,143
Corporation tax
1,256
135
Other taxation and social security
3,176
4,606
Other creditors
265,642
358,181
329,486
391,621

Bank loans are secured by a fixed and floating charge over all the assets of the company.

8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
35,202
39,815
Other creditors
490,000
490,000
525,202
529,815
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
(15,555)
(17,593)
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
2,500
2,500
2,500
2,500
Ordinary B shares of £1 each
2,500
2,500
2,500
2,500
Ordinary C shares of £1 each
2,500
2,500
2,500
2,500
Ordinary D shares of £1 each
2,500
2,500
2,500
2,500
10,000
10,000
10,000
10,000
TEMPLETON WALKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
10
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Directors Loan Account
-
(301,889)
73,396
(228,493)
(301,889)
73,396
(228,493)
2023-03-312022-04-01false22 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr M J GibbMrs A GibbMr D A KayeMrs J Kayefalse046147072022-04-012023-03-31046147072023-03-31046147072022-03-3104614707core:NetGoodwill2023-03-3104614707core:NetGoodwill2022-03-3104614707core:ComputerEquipment2023-03-3104614707core:MotorVehicles2023-03-3104614707core:ComputerEquipment2022-03-3104614707core:MotorVehicles2022-03-3104614707core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3104614707core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3104614707core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3104614707core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3104614707core:CurrentFinancialInstruments2023-03-3104614707core:CurrentFinancialInstruments2022-03-3104614707core:Non-currentFinancialInstruments2023-03-3104614707core:Non-currentFinancialInstruments2022-03-3104614707core:ShareCapital2023-03-3104614707core:ShareCapital2022-03-3104614707core:RetainedEarningsAccumulatedLosses2023-03-3104614707core:RetainedEarningsAccumulatedLosses2022-03-3104614707core:ShareCapitalOrdinaryShares2023-03-3104614707core:ShareCapitalOrdinaryShares2022-03-3104614707bus:Director12022-04-012023-03-3104614707bus:Director32022-04-012023-03-3104614707core:Goodwill2022-04-012023-03-3104614707core:ComputerEquipment2022-04-012023-03-3104614707core:MotorVehicles2022-04-012023-03-31046147072021-04-012022-03-3104614707core:NetGoodwill2022-03-3104614707core:NetGoodwill2022-04-012023-03-3104614707core:ComputerEquipment2022-03-3104614707core:MotorVehicles2022-03-31046147072022-03-3104614707core:WithinOneYear2023-03-3104614707core:WithinOneYear2022-03-3104614707bus:PrivateLimitedCompanyLtd2022-04-012023-03-3104614707bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3104614707bus:FRS1022022-04-012023-03-3104614707bus:AuditExemptWithAccountantsReport2022-04-012023-03-3104614707bus:Director22022-04-012023-03-3104614707bus:Director42022-04-012023-03-3104614707bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP