2023-01-012023-12-312023-12-31false09975968TEMPFAIR LIMITED2024-08-14iso4217:GBPxbrli:pure099759682023-01-01099759682023-12-31099759682023-01-012023-12-31099759682022-01-01099759682022-12-31099759682022-01-012022-12-3109975968bus:SmallEntities2023-01-012023-12-3109975968bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3109975968bus:FullAccounts2023-01-012023-12-3109975968bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109975968core:WithinOneYear2023-12-3109975968core:AfterOneYear2023-12-3109975968core:WithinOneYear2022-12-3109975968core:AfterOneYear2022-12-3109975968core:ShareCapital2023-12-3109975968core:SharePremium2023-12-3109975968core:RevaluationReserve2023-12-3109975968core:OtherReservesSubtotal2023-12-3109975968core:RetainedEarningsAccumulatedLosses2023-12-3109975968core:ShareCapital2022-12-3109975968core:SharePremium2022-12-3109975968core:RevaluationReserve2022-12-3109975968core:OtherReservesSubtotal2022-12-3109975968core:RetainedEarningsAccumulatedLosses2022-12-3109975968core:LandBuildings2023-12-3109975968core:PlantMachinery2023-12-3109975968core:Vehicles2023-12-3109975968core:FurnitureFittings2023-12-3109975968core:OfficeEquipment2023-12-3109975968core:NetGoodwill2023-12-3109975968core:IntangibleAssetsOtherThanGoodwill2023-12-3109975968core:ListedExchangeTraded2023-12-3109975968core:UnlistedNon-exchangeTraded2023-12-3109975968core:LandBuildings2022-12-3109975968core:PlantMachinery2022-12-3109975968core:Vehicles2022-12-3109975968core:FurnitureFittings2022-12-3109975968core:OfficeEquipment2022-12-3109975968core:NetGoodwill2022-12-3109975968core:IntangibleAssetsOtherThanGoodwill2022-12-3109975968core:ListedExchangeTraded2022-12-3109975968core:UnlistedNon-exchangeTraded2022-12-3109975968core:LandBuildings2023-01-012023-12-3109975968core:PlantMachinery2023-01-012023-12-3109975968core:Vehicles2023-01-012023-12-3109975968core:FurnitureFittings2023-01-012023-12-3109975968core:OfficeEquipment2023-01-012023-12-3109975968core:NetGoodwill2023-01-012023-12-3109975968core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3109975968core:ListedExchangeTraded2023-01-012023-12-3109975968core:UnlistedNon-exchangeTraded2023-01-012023-12-3109975968core:MoreThanFiveYears2023-01-012023-12-3109975968core:Non-currentFinancialInstruments2023-12-3109975968core:Non-currentFinancialInstruments2022-12-3109975968dpl:CostSales2023-01-012023-12-3109975968dpl:DistributionCosts2023-01-012023-12-3109975968core:LandBuildings2023-01-012023-12-3109975968core:PlantMachinery2023-01-012023-12-3109975968core:Vehicles2023-01-012023-12-3109975968core:FurnitureFittings2023-01-012023-12-3109975968core:OfficeEquipment2023-01-012023-12-3109975968dpl:AdministrativeExpenses2023-01-012023-12-3109975968core:NetGoodwill2023-01-012023-12-3109975968core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3109975968dpl:GroupUndertakings2023-01-012023-12-3109975968dpl:ParticipatingInterests2023-01-012023-12-3109975968dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3109975968core:ListedExchangeTraded2023-01-012023-12-3109975968dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3109975968core:UnlistedNon-exchangeTraded2023-01-012023-12-3109975968dpl:CostSales2022-01-012022-12-3109975968dpl:DistributionCosts2022-01-012022-12-3109975968core:LandBuildings2022-01-012022-12-3109975968core:PlantMachinery2022-01-012022-12-3109975968core:Vehicles2022-01-012022-12-3109975968core:FurnitureFittings2022-01-012022-12-3109975968core:OfficeEquipment2022-01-012022-12-3109975968dpl:AdministrativeExpenses2022-01-012022-12-3109975968core:NetGoodwill2022-01-012022-12-3109975968core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3109975968dpl:GroupUndertakings2022-01-012022-12-3109975968dpl:ParticipatingInterests2022-01-012022-12-3109975968dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3109975968core:ListedExchangeTraded2022-01-012022-12-3109975968dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3109975968core:UnlistedNon-exchangeTraded2022-01-012022-12-3109975968core:NetGoodwill2023-12-3109975968core:IntangibleAssetsOtherThanGoodwill2023-12-3109975968core:LandBuildings2023-12-3109975968core:PlantMachinery2023-12-3109975968core:Vehicles2023-12-3109975968core:FurnitureFittings2023-12-3109975968core:OfficeEquipment2023-12-3109975968core:AfterOneYear2023-12-3109975968core:WithinOneYear2023-12-3109975968core:ListedExchangeTraded2023-12-3109975968core:UnlistedNon-exchangeTraded2023-12-3109975968core:ShareCapital2023-12-3109975968core:SharePremium2023-12-3109975968core:RevaluationReserve2023-12-3109975968core:OtherReservesSubtotal2023-12-3109975968core:RetainedEarningsAccumulatedLosses2023-12-3109975968core:NetGoodwill2022-12-3109975968core:IntangibleAssetsOtherThanGoodwill2022-12-3109975968core:LandBuildings2022-12-3109975968core:PlantMachinery2022-12-3109975968core:Vehicles2022-12-3109975968core:FurnitureFittings2022-12-3109975968core:OfficeEquipment2022-12-3109975968core:AfterOneYear2022-12-3109975968core:WithinOneYear2022-12-3109975968core:ListedExchangeTraded2022-12-3109975968core:UnlistedNon-exchangeTraded2022-12-3109975968core:ShareCapital2022-12-3109975968core:SharePremium2022-12-3109975968core:RevaluationReserve2022-12-3109975968core:OtherReservesSubtotal2022-12-3109975968core:RetainedEarningsAccumulatedLosses2022-12-3109975968core:NetGoodwill2022-01-0109975968core:IntangibleAssetsOtherThanGoodwill2022-01-0109975968core:LandBuildings2022-01-0109975968core:PlantMachinery2022-01-0109975968core:Vehicles2022-01-0109975968core:FurnitureFittings2022-01-0109975968core:OfficeEquipment2022-01-0109975968core:AfterOneYear2022-01-0109975968core:WithinOneYear2022-01-0109975968core:ListedExchangeTraded2022-01-0109975968core:UnlistedNon-exchangeTraded2022-01-0109975968core:ShareCapital2022-01-0109975968core:SharePremium2022-01-0109975968core:RevaluationReserve2022-01-0109975968core:OtherReservesSubtotal2022-01-0109975968core:RetainedEarningsAccumulatedLosses2022-01-0109975968core:AfterOneYear2023-01-012023-12-3109975968core:WithinOneYear2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:CostValuation2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3109975968core:Non-currentFinancialInstrumentscore:CostValuation2023-12-3109975968core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-12-3109975968core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-12-3109975968core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-12-3109975968core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-12-3109975968core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-12-3109975968core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-12-3109975968core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-12-3109975968core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-12-3109975968core:Non-currentFinancialInstrumentscore:CostValuation2022-12-3109975968core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-12-3109975968core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-12-3109975968core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-12-3109975968core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-12-3109975968core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-12-3109975968core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-12-3109975968core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-12-3109975968core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-12-3109975968bus:Director12023-01-012023-12-3109975968bus:Director22023-01-012023-12-3109975968bus:Director32023-01-012023-12-3109975968bus:Director42023-01-012023-12-3109975968core:FurnitureFittingsToolsEquipment2022-12-3109975968core:FurnitureFittingsToolsEquipment2023-01-012023-12-3109975968core:FurnitureFittingsToolsEquipment2023-12-31

TEMPFAIR LIMITED

Registered Number
09975968
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

TEMPFAIR LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

CHATFIELD, Benjamin
PERKS, Dominic Anthony Charles
POVEY, Oliver
WHITFIELD, Michael Alexander Gardiner

Registered Address

1st Floor, 1-3 Silex Street
London
SE1 0DW

Registered Number

09975968 (England and Wales)
TEMPFAIR LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3653,0901,111,718
Tangible assets44,16420,269
657,2541,131,987
Current assets
Debtors544,920271,690
Cash at bank and on hand209,139203,070
254,059474,760
Creditors amounts falling due within one year6(444,990)(191,418)
Net current assets (liabilities)(190,931)283,342
Total assets less current liabilities466,3231,415,329
Creditors amounts falling due after one year7(1,329,619)-
Net assets(863,296)1,415,329
Capital and reserves
Called up share capital4,3583,768
Share premium9,546,5978,792,898
Other reserves17,622756,770
Profit and loss account(10,431,873)(8,138,107)
Shareholders' funds(863,296)1,415,329
The financial statements were approved and authorised for issue by the Board of Directors on 14 August 2024, and are signed on its behalf by:
POVEY, Oliver
Director
Registered Company No. 09975968
TEMPFAIR LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Going concern
After reviewing the company's forecasts and projections, taking into consideration the convertible loan and other expected funding, the directors have a reasonable expectation that the company has sufficient reserves and adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the black scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity. When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value. Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Development costs are being amortised evenly over their estimated useful life of three years.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line (years)
Fixtures and fittings3
Office Equipment3
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.
2.Average number of employees

20232022
Average number of employees during the year1533
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 233,058,1303,058,130
Additions198,947198,947
At 31 December 233,257,0773,257,077
Amortisation and impairment
At 01 January 231,946,4121,946,412
Charge for year657,575657,575
At 31 December 232,603,9872,603,987
Net book value
At 31 December 23653,090653,090
At 31 December 221,111,7181,111,718
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 January 238,16378,79686,959
Disposals(300)(28,808)(29,108)
At 31 December 237,86349,98857,851
Depreciation and impairment
At 01 January 237,70558,98566,690
Charge for year45810,39610,854
On disposals(300)(23,557)(23,857)
At 31 December 237,86345,82453,687
Net book value
At 31 December 23-4,1644,164
At 31 December 2245819,81120,269
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables226-
Other debtors20,900223,055
Prepayments and accrued income23,79448,635
Total44,920271,690
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables115,07943,774
Taxation and social security221,227102,594
Other creditors97,454-
Accrued liabilities and deferred income11,23045,050
Total444,990191,418
7.Creditors: amounts due after one year

2023

2022

££
Convertible loans1,329,619-
Total1,329,619-
Included in Liabilities more than 1 year are Convertible Loan Notes totaling £1,329,619. The Convertible Loan Notes are expected to convert into equity in a future equity funding round.
8.Operating lease commitments
Minimum lease payments under non-cancellable operating leases fall due within one year of £60,000 (2022: £60,000).
9.Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102' The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.