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REGISTERED NUMBER: 05089125 (England and Wales)












Financial Statements

for the Year Ended 31st December 2023

for

Temple Island Collections Limited

Temple Island Collections Limited (Registered number: 05089125)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Temple Island Collections Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mr J Fielder
Mrs L S Iaciofano





SECRETARY: Mr J Fielder





REGISTERED OFFICE: Unit 4, Network 4,
Lincoln Road
High Wycombe
Buckinghamshire
HP12 3RF





REGISTERED NUMBER: 05089125 (England and Wales)





ACCOUNTANTS: Buffery & Co Ltd
2 West Street
Henley On Thames
Oxfordshire
RG9 2DU

Temple Island Collections Limited (Registered number: 05089125)

Abridged Balance Sheet
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,636 60,619
Investments 5 218,678 160,662
311,314 221,281

CURRENT ASSETS
Stocks 626,683 451,996
Debtors 468,556 689,324
Cash at bank 358,831 166,793
1,454,070 1,308,113
CREDITORS
Amounts falling due within one year 357,359 379,890
NET CURRENT ASSETS 1,096,711 928,223
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,408,025

1,149,504

PROVISIONS FOR LIABILITIES 20,988 11,359
NET ASSETS 1,387,037 1,138,145

CAPITAL AND RESERVES
Called up share capital 6 120 120
Revaluation reserve 7 21,943 (16,270 )
Retained earnings 1,364,974 1,154,295
SHAREHOLDERS' FUNDS 1,387,037 1,138,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Temple Island Collections Limited (Registered number: 05089125)

Abridged Balance Sheet - continued
31st December 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th September 2024 and were signed on its behalf by:





Mr J Fielder - Director


Temple Island Collections Limited (Registered number: 05089125)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Temple Island Collections Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost and 20% on reducing balance
Fixtures and fittings - 20% on reducing balance and 15% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 12 ) .

Temple Island Collections Limited (Registered number: 05089125)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023 122,918
Additions 47,489
At 31st December 2023 170,407
DEPRECIATION
At 1st January 2023 62,299
Charge for year 15,472
At 31st December 2023 77,771
NET BOOK VALUE
At 31st December 2023 92,636
At 31st December 2022 60,619

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1st January 2023 160,662
Additions 66,467
Disposals (36,160 )
Revaluations 27,709
At 31st December 2023 218,678
NET BOOK VALUE
At 31st December 2023 218,678
At 31st December 2022 160,662

Cost or valuation at 31st December 2023 is represented by:
Totals
£   
Valuation in 2022 (16,270 )
Valuation in 2023 27,709
Cost 207,239
218,678

Temple Island Collections Limited (Registered number: 05089125)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 ordinary £1 100 100
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
120 120

7. RESERVES
Revaluation
reserve
£   
At 1st January 2023 (16,270 )
Revaluation 38,213

At 31st December 2023 21,943

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2023 and 31st December 2022:

31.12.23 31.12.22
£    £   
Mr J Fielder
Balance outstanding at start of year 9,436 -
Amounts advanced 149,557 9,436
Amounts repaid (152,330 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,663 9,436

Mrs L S Iaciofano
Balance outstanding at start of year - -
Amounts advanced 157,790 -
Amounts repaid (108,761 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,029 -

The overdrawn directors loan account balance will be repaid in full by a dividend recorded on 6 April 2024.