Company registration number 14718793 (England and Wales)
TEMPLAR UK PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 9 MARCH 2023 TO 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TEMPLAR UK PROPERTIES LIMITED
CONTENTS
- 1 -
Page
Balance sheet
2
Notes to the financial statements
3 - 5
The following pages do not form part of the statutory financial statements
Detailed trading and profit and loss account
-
TEMPLAR UK PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
Notes
£
£
Fixed assets
Investment property
3
683,000
Current assets
Debtors
4
168
Cash at bank and in hand
16,974
17,142
Creditors: amounts falling due within one year
5
(562,053)
Net current liabilities
(544,911)
Total assets less current liabilities
138,089
Creditors: amounts falling due after more than one year
6
(142,103)
Net liabilities
(4,014)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(4,114)
Total equity
(4,014)

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 period ended 31 March 2024 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 period 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.

The financial statements were approved by the board of directors and authorised for issue on 18 November 2024 and are signed on its behalf by:
Mrs G Wright
Director
Company registration number 14718793 (England and Wales)
TEMPLAR UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Templar UK Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Reporting period

This is the first time the company has presented its financial statements since its incorporation, hence the financial statements presented are for more than twelve months and with no comparatives.

1.2
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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The financial statements have been prepared on a going concern basis even though at the balance sheet date the company had net liabilities of £4,014. The directors consider the going concern basis to be appropriate because, in their opinion, the company will continue to obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due, for at least the ensuing twelve months.

 

If the company was unable to continue obtaining sufficient funding to enable it to pay its debts as they fell due, it would be unable to continue trading and adjustments would have to be made to reduce the value of assets to their realisable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

1.4
Turnover

Turnover represents amounts receivable for property rental income and is recognised in the period to which it relates.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
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.

TEMPLAR UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, are 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

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

2024
Number
Total
2
3
Investment property
2024
£
Fair value
At 9 March 2023
-
0
Additions
683,000
At 31 March 2024
683,000

Investment property comprises £683,000 of properties acquired during the period. In the opinion of the directors, there has been no significant change in the market value of the properties from the date of acquisition to the balance sheet date.

TEMPLAR UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
120
Other debtors
48
168
5
Creditors: amounts falling due within one year
2024
£
Other creditors
562,053
6
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
142,103
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
100
100

During the period 100 ordinary £1 shares were issued at par value.

8
Related party transactions

Included within other creditors is £7,515 owed to the directors at the balance sheet date.

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