Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Mr A J Dearing 28/07/2017 24 January 2024 no description of principal activity 10888534 2023-07-31 10888534 bus:Director1 2023-07-31 10888534 core:CurrentFinancialInstruments 2023-07-31 10888534 core:CurrentFinancialInstruments 2022-07-31 10888534 2022-07-31 10888534 core:ShareCapital 2023-07-31 10888534 core:ShareCapital 2022-07-31 10888534 core:RetainedEarningsAccumulatedLosses 2023-07-31 10888534 core:RetainedEarningsAccumulatedLosses 2022-07-31 10888534 2022-08-01 2023-07-31 10888534 bus:FilletedAccounts 2022-08-01 2023-07-31 10888534 bus:SmallEntities 2022-08-01 2023-07-31 10888534 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10888534 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10888534 bus:Director1 2022-08-01 2023-07-31 10888534 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure

Company No: 10888534 (England and Wales)

TEMPLE CONSULTING LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

TEMPLE CONSULTING LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

TEMPLE CONSULTING LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2023
TEMPLE CONSULTING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTOR Mr A J Dearing
REGISTERED OFFICE 84 Brook Street
Mayfair
London
W1K 5EH
England
United Kingdom
COMPANY NUMBER 10888534 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
66 Prescot Street
London
E1 8NN
United Kingdom
TEMPLE CONSULTING LIMITED

BALANCE SHEET

As at 31 July 2023
TEMPLE CONSULTING LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
2023 2022
£ £
Current assets
Debtors 3 44,190 1
Cash at bank and in hand 77,473 0
121,663 1
Creditors: amounts falling due within one year 4 ( 46,174) 0
Net current assets 75,489 1
Total assets less current liabilities 75,489 1
Accruals and deferred income ( 3,200) 0
Net assets 72,289 1
Capital and reserves
Called-up share capital 1 1
Profit and loss account 72,288 0
Total shareholder's funds 72,289 1

For the financial year ending 31 July 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 financial statements of Temple Consulting Limited (registered number: 10888534) were approved and authorised for issue by the Director on 24 January 2024. They were signed on its behalf by:

Mr A J Dearing
Director
TEMPLE CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
TEMPLE CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Temple Consulting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 84 Brook Street, Mayfair, London, W1K 5EH, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

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 rates 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Debtors

2023 2022
£ £
Trade debtors 44,190 0
Other debtors 0 1
44,190 1

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 5,647 0
Taxation and social security 26,023 0
Other creditors 14,504 0
46,174 0

5. Related party transactions

At the balance sheet date, the company owed £289 to director of the company.