Company Registration No. NI646820 (Northern Ireland)
Temple M&E Ltd
Unaudited accounts
for the year ended 31 July 2023
Temple M&E Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
11,721
25,834
Inventories
118,459
19,566
Cash at bank and in hand
2,972
-
Creditors: amounts falling due within one year
(200,797)
(81,892)
Net current assets
21,883
21,826
Total assets less current liabilities
33,604
47,660
Creditors: amounts falling due after more than one year
(33,003)
(46,104)
Called up share capital
100
100
Profit and loss account
501
1,456
Shareholders' funds
601
1,556
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 April 2024 and were signed on its behalf by
Steven Cray
Director
Company Registration No. NI646820
Temple M&E Ltd
Notes to the Accounts
for the year ended 31 July 2023
Temple M&E Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI646820. The registered office is Unit 2 Colvin House Carrowreagh Road, Dundonald, Belfast, BT16 1QT, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The director of Temple M&E Ltd believes that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least twelve months from the date of signing. Accordingly, Temple M&E Ltd continues to adopt the going concern basis in preparing the financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of electrical goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of installation of electrical services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% - Straight Line
Motor vehicles
25% - Reducing Balance
Computer equipment
33% - Straight Line
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Temple M&E Ltd
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
3,657
44,095
1,136
48,888
Disposals
-
(13,795)
-
(13,795)
At 31 July 2023
3,985
30,300
1,136
35,421
At 1 August 2022
3,614
18,721
719
23,054
Charge for the year
131
6,342
208
6,681
On disposals
-
(6,035)
-
(6,035)
At 31 July 2023
3,745
19,028
927
23,700
At 31 July 2023
240
11,272
209
11,721
At 31 July 2022
43
25,374
417
25,834
Amounts falling due within one year
Trade debtors
49,356
46,630
Other debtors
18,704
19,012
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
7,914
9,378
Obligations under finance leases and hire purchase contracts
6,365
9,972
Trade creditors
151,537
48,152
Taxes and social security
17,924
1,384
Other creditors
15,307
11,506
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
13,132
18,235
Temple M&E Ltd
Notes to the Accounts
for the year ended 31 July 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 10 (2022: 10).