Company Registration No. 952601 (England and Wales)
Temlat Property Co. Limited
Unaudited accounts
for the year ended 31 December 2024
Temlat Property Co. Limited
Unaudited accounts
Contents
Temlat Property Co. Limited
Company Information
for the year ended 31 December 2024
Directors
M D Leask
K Keating
C Leask
Company Number
952601 (England and Wales)
Registered Office
St Georges
47a Eastern Parade
Southsea
Hampshire
PO4 9RE
Temlat Property Co. Limited
Statement of financial position
as at 31 December 2024
Investment property
1,832,062
1,400,000
Cash at bank and in hand
1,766
148,407
Creditors: amounts falling due within one year
(109,112)
(66,683)
Net current (liabilities)/assets
(95,633)
125,168
Total assets less current liabilities
1,736,429
1,525,168
Creditors: amounts falling due after more than one year
(308,214)
(127,169)
Provisions for liabilities
Deferred tax
(93,715)
(89,030)
Net assets
1,334,500
1,308,969
Called up share capital
100
100
Revaluation reserve
324,000
324,000
Profit and loss account
1,010,400
984,869
Shareholders' funds
1,334,500
1,308,969
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by
M D Leask
Director
Company Registration No. 952601
Temlat Property Co. Limited
Notes to the Accounts
for the year ended 31 December 2024
Temlat Property Co. Limited is a private company, limited by shares, registered in England and Wales, registration number 952601. The registered office is St Georges, 47a Eastern Parade, Southsea, Hampshire, PO4 9RE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements for the year ended 31 December 2022 comply with FRS 102 Section 1A small entities.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
The company has not prepared a cashflow statement as it qualifies as a small company and has relied upon the exemption conferred by Financial Reporting Standard No 1.
This includes management fees and property rental income. The property rental income is exempt from value added tax.
The turnover arises entirely in the UK.
Temlat Property Co. Limited
Notes to the Accounts
for the year ended 31 December 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 January 2024
1,400,000
At 31 December 2024
1,832,062
There has not been a formal valuation of the Investment Properties this year. The Investment Properties have been valued by the Directors at 31 December 2024 at £1,832,062. The historical cost of these properties is £1,363,485.
Amounts falling due within one year
Accrued income and prepayments
11,713
43,444
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
10,152
10,996
Other creditors
98,960
55,687
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
308,214
127,169
8
Deferred taxation
2024
2023
Accelerated capital allowances
93,715
89,030
Provision at start of year
89,030
89,030
Charged to the profit and loss account
4,685
-
Provision at end of year
93,715
89,030
Temlat Property Co. Limited
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 4 (2023: 3).