REGISTERED NUMBER: |
TEMPLE MERIDIAN LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
REGISTERED NUMBER: |
TEMPLE MERIDIAN LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
TEMPLE MERIDIAN LIMITED (REGISTERED NUMBER: 05171912) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
TEMPLE MERIDIAN LIMITED (REGISTERED NUMBER: 05171912) |
BALANCE SHEET |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
TEMPLE MERIDIAN LIMITED (REGISTERED NUMBER: 05171912) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Temple Meridian Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The company and its holding company comprise of a small group. The company has therefore taken advantage of the exemption not to prepare group accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
TEMPLE MERIDIAN LIMITED (REGISTERED NUMBER: 05171912) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
The leasehold investment property was acquired on 16th January 2015. It has been revalued by Vail Williams LLP on the 20/4/18. An offer of £1,125,000 for the purchase of the property was accepted by the Directors, but failed to complete, however they consider that this to still be a fair value at the date of the balance sheet. |
Fair value at 31 July 2024 is represented by: |
£ |
Valuation in 2018 | 62,615 |
Valuation in 2023 | 25,000 |
Cost | 1,037,385 |
1,125,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
TEMPLE MERIDIAN LIMITED (REGISTERED NUMBER: 05171912) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
At the year end, Temple Meridian Limited was owed £67 by Temple Merdian Holdco Limited. |
8. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Temple Meridian Holdco Limited (a company registered in England and Wales , company number 11384092). The ultimate controlling parties are R Godlonton, G Varley and S Wragg, directors of the holding company. |