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Registered number: 11901932
Temple Square Investments Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 11901932
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,467,962 1,467,962
1,467,962 1,467,962
CURRENT ASSETS
Debtors 5 80,464 428
Cash at bank and in hand 18,722 111,481
99,186 111,909
Creditors: Amounts Falling Due Within One Year 6 (380,762 ) (395,689 )
NET CURRENT ASSETS (LIABILITIES) (281,576 ) (283,780 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,186,386 1,184,182
Creditors: Amounts Falling Due After More Than One Year 7 (1,069,040 ) (1,079,049 )
NET ASSETS 117,346 105,133
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 117,246 105,033
SHAREHOLDERS' FUNDS 117,346 105,133
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Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr S Riddell
Director
8th March 2025
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Temple Square Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11901932 . The registered office is 144-146 King's Cross Road, London, WC1X 9DU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 1,467,962
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5. Debtors
2024 2023
£ £
Due within one year
Thomdell Group Ltd 428 428
Director's loan account 80,036 -
80,464 428
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Thomdell Development Loan. 200,000 200,000
Corporation tax 5,210 4,512
Kingdon Loan 148,572 148,572
Bounce Back Loan 10,648 10,648
Advance rent received 11,646 10,774
Accruals and deferred income 4,686 7,094
Director's loan account - 14,089
380,762 395,689
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other Creditors. 1,069,040 1,079,049
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Steven Riddell - 230,000 110,000 - 120,000
The above loan is fully repaid after the year end on 6th September 2024.
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr S Riddell .
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