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Registered number: 01960794









TEMPLEWORLD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
TEMPLEWORLD LIMITED
REGISTERED NUMBER: 01960794

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
485
606

  
485
606

Current assets
  

Debtors: amounts falling due within one year
 5 
286,818
112,027

Cash at bank and in hand
  
219,993
185,162

  
506,811
297,189

Creditors: amounts falling due within one year
 6 
(432,867)
(181,996)

Net current assets
  
 
 
73,944
 
 
115,193

Total assets less current liabilities
  
74,429
115,799

Provisions for liabilities
  

Deferred tax
 7 
(92)
(115)

  
 
 
(92)
 
 
(115)

Net assets
  
74,337
115,684


Capital and reserves
  

Called up share capital 
  
50,170
50,170

Profit and loss account
  
24,167
65,514

  
74,337
115,684


Page 1

 
TEMPLEWORLD LIMITED
REGISTERED NUMBER: 01960794
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 March 2025.



Mrs A Burns
Director

The notes on pages 6 to 11 form part of these financial statements.

Page 2

 
TEMPLEWORLD LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2023
50,170
65,514
115,684


Comprehensive income for the year

Loss for the year
-
(41,347)
(41,347)
Total comprehensive income for the year
-
(41,347)
(41,347)


Total transactions with owners
-
-
-


At 31 October 2024
50,170
24,167
74,337


The notes on pages 6 to 11 form part of these financial statements.

Page 3

 
TEMPLEWORLD LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2022
50,170
56,881
107,051


Comprehensive income for the year

Profit for the year
-
8,633
8,633
Total comprehensive income for the year
-
8,633
8,633


Total transactions with owners
-
-
-


At 31 October 2023
50,170
65,514
115,684


The notes on pages 6 to 11 form part of these financial statements.

Page 4

 
TEMPLEWORLD LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
£
£

Cash flows from operating activities

(Loss)/profit for the financial year
(41,347)
8,633

Adjustments for:

Depreciation of tangible assets
121
152

Interest received
(1,577)
(1,149)

Taxation charge
(23)
(29)

(Increase) in debtors
(174,791)
(31,406)

Increase/(decrease) in creditors
250,871
(6,926)

Net cash generated from operating activities

33,254
(30,725)


Cash flows from investing activities

Interest received
1,577
1,149

Net cash from investing activities

1,577
1,149


Net increase/(decrease) in cash and cash equivalents
34,831
(29,576)

Cash and cash equivalents at beginning of year
185,162
214,738

Cash and cash equivalents at the end of year
219,993
185,162


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
219,993
185,162

219,993
185,162


The notes on pages 6 to 11 form part of these financial statements.

Page 5

 
TEMPLEWORLD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Templeworld Limited is a private company, limited by shares, incorporated in the United Kingdom, registration number 01960794. The registered office is 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Turnover

Turnover represents the total of all travel arrangements organised by the company departing within the year, net of value added tax and trade discounts. Turnover is recognised on date of departure.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
TEMPLEWORLD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 7

 
TEMPLEWORLD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery
-
20% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
TEMPLEWORLD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Employees

2024
2023
£
£

Wages and salaries
102,837
103,194

Social security costs
5,469
5,217

Cost of defined contribution scheme
2,051
2,503

110,357
110,914


The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 November 2023
19,834



At 31 October 2024

19,834



Depreciation


At 1 November 2023
19,228


Charge for the year on owned assets
121



At 31 October 2024

19,349



Net book value



At 31 October 2024
485



At 31 October 2023
606

Page 9

 
TEMPLEWORLD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Other debtors
283,100
104,666

Prepayments
3,718
7,361

286,818
112,027


Included in other debtors is the sum of £283,100 (2023 - £99,834) which relates to advanced supplier payments for bookings departing from 1 November 2024 onwards.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
644
6,852

Other taxation and social security
1,104
1,887

Other creditors
425,607
167,745

Accruals
5,512
5,512

432,867
181,996


Included in other creditors is the sum of £424,361 (2023 - £166,865) which relates to advanced bookings departing from 1 November 2024 onwards. 

Page 10

 
TEMPLEWORLD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Deferred taxation




2024


£






At beginning of year
(115)


Charged to profit or loss
23



At end of year
(92)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(92)
(115)

(92)
(115)


8.


Contingent Liabilities

At 31 October 2024, there were contingent liabilities outstanding in respect of counter indemnities given by the Company, in the normal course of business, to the Company's bond insurance obligors in respect of ABTOT travel bonds amounting to £30,000 (2023: £46,000.)


9.


Controlling party

In the opinion of the directors, there is no single controlling party. Dr David Price-Williams owns 50% of the issued share capital with the other 50% being owned by Mrs Alice Burns. 

 
Page 11