TEMPLECO 374 LIMITED

 

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

 

FOR THE YEAR TO 30 SEPTEMBER 2024

 

COMPANY NO. 03449020

 

TEMPLECO 374 LIMITED

 

COMPANY INFORMATION

 

DIRECTORS:

M P Lakin

 

C LJ Lakin

 

 

SECRETARY:

M P Lakin

 

 

REGISTERED OFFICE:

Rest Hill House

 

Over Worton

 

Chipping Norton

 

Oxfordshire

 

0X7 7EN

 

 

REGISTERED NUMBER:

3449020

 

 

ACCOUNTANT:

M P Lakin

 

Rest Hill House

 

Over Worton

 

Chipping Norton

 

Oxfordshire

 

0X7 7EN

 

TEMPLECO 374 LIMITED

 

CONTENTS

 

 

Page

 

 

Directors' Report

1

 

 

Accountant's Report

2

 

 

Profit and Loss Account

3

 

 

Balance Sheet

4

 

 

Notes to the Financial Statements

5-7

 

TEMPLECO 374 LIMITED

 

DIRECTORS' REPORT

 

The directors present their report and financial statements for the year ended 30 September 2024.

 

Review of Business

 

The principal activities of the company in the year under review were sheep farming and the collection of rent.

 

Results and Dividends

 

The results for the year ended 30 September 2024 are as shown in the Profit & Loss account on page 3.

 

Directors and their Interests

 

The directors of the company in office during the year and their beneficial interest in the issued share capital was as follows:

 

 

30.09.24

30.09.23

 

 

Ordinary

Ordinary

 

M P Lakin

588,000

588,000

 

C L J Lakin

612,000

612,000

 

 

Directors' Responsibilities

 

Company law requires the directors to prepare financial statements for each year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year.

In preparing these financial statements the directors are required to:

 

-

select suitable accounting policies and apply them consistently;

-

make judgements and estimates that are reasonable and prudent;

-

follow applicable accounting standards, subject to any material departure disclosed and explained in the financial statements;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

 

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and for taking reasonable steps for the presentation and detection and detection of fraud and other irregularities.

 

Close Company Status

 

The close company provisions of the Income and Corporation Taxes Act 1988 apply to the company. In preparing the above report, the directors have taken advantage of the exemptions applicable to small companies conferred by the Companies Act 2006.

 

Signed on behalf of the Board:

 

 

 

 

………………………………………….

Approved by the Board on 14 / 05 / 2025

Secretary - M P Lakin

 

TEMPLECO 374 LIMITED

 

REPORT OF THE ACCOUNTANT

TO THE DIRECTORS OF

TEMPLECO 374 LIMITED

 

In accordance with instructions given to me, I have prepared the financial statements set out on pages 3 - 6 from the accounting records of Templeco 374 Limited and from the information and explanations supplied to me by the management of the Company. I have not audited the accompanying financial statements and accordingly do not express an opinion or any other form of assurance on them.

 

 

 

 

M P LAKIN

 

 

 

Dated: 14 / 05 / 2025

TEMPLECO 374 LIMITED

 

PROFIT AND LOSS ACCOUNT

YEAR ENDED 30 SEPTEMBER 2024

 

 

Note

2024

2023

 

 

£

£

 

 

 

 

Farm Turnover

1

 

 

 

 

 

 

Gross Profit

 

7,580

6,842

 

 

 

 

Rents receivable (net)

 

38,450

29.803

 

 

 

 

Total income

 

46,030

36,645

 

 

 

 

Farm and administrative expenses

 

(57,196)

(31,571)

 

 

 

 

Operating Profit/(Loss)

2

(11,166)

5,074

 

 

 

 

Interest payable and similar charges

3

-

-

 

 

 

 

Profit/(Loss) on ordinary activities before taxation

 

(11,166)

5,074

Taxation

4

-

-

 

 

 

 

Profit/(Loss) after taxation transferred to reserve

 

(11,166)

5,074

 

The results stated above represent the continuing activities of the company.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The notes form part of these financial statements

TEMPLECO 374 LIMITED

 

BALANCE SHEET AS AT 30 SEPTEMBER 2024

 

 

 

30.09.24

30.09.23

 

Note

£

£

£

£

 

 

 

 

 

 

FIXED ASSETS

5

 

667,748

 

668,071

 

 

 

 

 

 

CURRENT ASSETS

6

57,731

 

61,881

 

 

 

 

 

 

 

CREDITORS:

 

 

 

 

 

Amounts falling due

 

 

 

 

 

within one year

7

9,891

 

5,297

 

 

 

 

47,840

 

56,584

NET CURRENT ASSETS

 

 

715,588

 

724,655

 

 

 

 

 

 

CREDITORS:

 

 

 

 

 

Amounts falling due after one year

 

 

1,099

 

-

 

 

 

 

 

 

 

 

 

714,489

 

724,655

 

 

 

 

 

 

CAPITAL AND RESERVES

 

 

 

 

 

 

 

 

 

 

 

Called up share capital

8

 

1,200,000

 

1,200,000

Profit & Loss account

 

 

(485,511)

 

(475,345)

 

 

 

 

 

 

 

 

 

714,489

 

724,655

 

For the year ended 30 September 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 of its accounts for the year in question in accordance with section 476.

 

Directors' responsibilities:

 

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 in accordance with the provisions applicable to companies subject to the small companies regime.

 

 

…………………………………….

Director - M P Lakin

 

 

Approved by the Board on 14 / 05 / 2025

 

The notes form part of these financial statements

TEMPLECO 374 LIMITED

 

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

 

1     Accounting Policies

Accounting Convention

 

The financial statements are prepared on the historical cost convention and in accordance with applicable accounting standards.

 

Turnover

 

Turnover represents the net value of farming services, exclusive of value added tax.

 

2     Operating profit is stated after charging:

 

 

2024

2023

 

£

£

Directors' remuneration

-

-

Accountant's remuneration

2.000

2,000

 

3     Interest payable:

 

Bank loan account interest

-

-

 

4     Taxation charge:

 

Corporation tax at 19% on the adjusted

 

 

profit for the year

-

-

 

5     Fixed assets

 

 

Farm

 

 

 

Property

Equipment

Total

 

£

£

£

Cost 01.10.23

666,779

61,232

728,011

Additions

-

-

-

Disposals

-

-

-

 

 

 

 

 

666,779

61,232

728,011

 

 

 

 

Depreciation 01.10.23

 

59,940

59,940

Disposals

-

-

-

Charge for the year

-

323

323

 

 

 

 

 

-

60,263

60,263

 

 

 

 

Written down value 30.09.24

666,779

969

667,748

 

TEMPLECO 374 LIMITED

 

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

 

6     Current assets

 

 

2024

2023

 

£

£

Trade debtors

1,145

700

Cash at bank

50,976

55,571

Equine stock

5,010

5,010

Stock of stone

600

600

 

 

 

 

57,731

61,881

 

7     Creditors: amounts falling due within one year

 

 

2024

2023

 

£

£

Trade creditors

951

529

Other creditors

5,000

1,173

VAT and other taxes

1,451

(36)

Directors' current accounts

2,489

3,631

 

 

 

 

9,891

5,297

 

 

 

Creditors: amounts falling due after one year

 

 

 

 

 

Trade creditors

1,099

-

 

8     Called up share capital

 

Authorised: Ordinary shares of £1 each

3,000,000

3,000,000

Issued and fully paid

1,200,000

1,200,000

 

9     Movement in shareholders' funds

 

Opening shareholders' funds

724,655

719,581

Profit/(Loss) for the year

(11,166)

5,074

 

 

 

 

713,489

724,655

 

 

 

 

 

 

 

 

 

The notes form part of these financial statements