IRIS Accounts Production v24.3.2.46 11090862 director 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110908622023-04-30110908622024-04-30110908622023-05-012024-04-30110908622022-04-30110908622022-05-012023-04-30110908622023-04-3011090862ns15:EnglandWales2023-05-012024-04-3011090862ns14:PoundSterling2023-05-012024-04-3011090862ns10:Director12023-05-012024-04-3011090862ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3011090862ns10:SmallEntities2023-05-012024-04-3011090862ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3011090862ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3011090862ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3011090862ns10:FullAccounts2023-05-012024-04-3011090862ns10:RegisteredOffice2023-05-012024-04-3011090862ns5:CurrentFinancialInstruments2024-04-3011090862ns5:CurrentFinancialInstruments2023-04-3011090862ns5:ShareCapital2024-04-3011090862ns5:ShareCapital2023-04-3011090862ns5:RetainedEarningsAccumulatedLosses2024-04-3011090862ns5:RetainedEarningsAccumulatedLosses2023-04-3011090862ns5:CostValuation2023-04-3011090862ns5:RevaluationsIncreaseDecreaseInInvestments2024-04-3011090862ns5:CostValuation2024-04-30
REGISTERED NUMBER: 11090862 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

TEMPEST ELM LIMITED

TEMPEST ELM LIMITED (REGISTERED NUMBER: 11090862)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TEMPEST ELM LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTOR: Mr C Hornsby





REGISTERED OFFICE: Unit 2
Charnwood Edge Business Park
Syston Road, Cossington
Leicester
LE7 4UZ





REGISTERED NUMBER: 11090862 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

TEMPEST ELM LIMITED (REGISTERED NUMBER: 11090862)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 30,050 25,941
Investment property 5 1,200,667 805,499
1,230,717 831,440

CURRENT ASSETS
Debtors 6 50,954 293
Cash at bank 1,212,555 894,057
1,263,509 894,350
CREDITORS
Amounts falling due within one year 7 (26,306 ) (9,497 )
NET CURRENT ASSETS 1,237,203 884,853
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,467,920

1,716,293

CAPITAL AND RESERVES
Called up share capital 89 89
Retained earnings 2,467,831 1,716,204
2,467,920 1,716,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

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

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





Mr C Hornsby - Director


TEMPEST ELM LIMITED (REGISTERED NUMBER: 11090862)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024


1. STATUTORY INFORMATION

Tempest Elm Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is Unit 2 Charnwood Edge Business Park, Syston Road, Cossington, Leicester, LE7 4UZ and the registered number is 11090862.

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 represents amounts receivable for rental income.

Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.


TEMPEST ELM LIMITED (REGISTERED NUMBER: 11090862)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Investments
Investments which are held for capital appreciation are 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. The surplus or deficit on revaluation is recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 50 25,891 25,941
Revaluations - 4,109 4,109
At 30 April 2024 50 30,000 30,050
NET BOOK VALUE
At 30 April 2024 50 30,000 30,050
At 30 April 2023 50 25,891 25,941

Cost or valuation at 30 April 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2023 - 1,778 1,778
Valuation in 2024 - 4,109 4,109
Cost 50 24,113 24,163
50 30,000 30,050

TEMPEST ELM LIMITED (REGISTERED NUMBER: 11090862)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 805,499
Additions 395,168
At 30 April 2024 1,200,667
NET BOOK VALUE
At 30 April 2024 1,200,667
At 30 April 2023 805,499

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 50,954 293

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 10,925 5,698
Other creditors 10,500 -
Directors' current accounts 61 61
Accruals and deferred income 4,820 3,738
26,306 9,497