REGISTERED NUMBER: 03752857 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

TEMPLETONE LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J M M Adams

T R Emlyn Jones

I C Norris

SECRETARY:

J M M Adams

REGISTERED OFFICE:

40 Lady Somerset Road

London

NW5 1TU

REGISTERED NUMBER:

03752857 (England and Wales)

ACCOUNTANTS:

Johnsons, Chartered Accountants

1-2 Craven Road

Ealing

London

W5 2UA

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Templetone Ltd for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Templetone Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Templetone Ltd and state those matters that we have agreed to state to the Board of Directors of Templetone Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Templetone Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Templetone Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Templetone Ltd. You consider that Templetone Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Templetone Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Johnsons, Chartered Accountants

1-2 Craven Road

Ealing

London

W5 2UA

27 June 2025

FIXED ASSETS

Tangible assets

4

664

885

Investments

5

472

472

Investment property

6

5,025,020

4,023,100

5,026,156

4,024,457

CURRENT ASSETS

Debtors

7

40,677

63,159

Cash at bank

294,863

874,474

335,540

937,633

CREDITORS

Amounts falling due within one year

8

410,742

450,491

NET CURRENT (LIABILITIES)/ASSETS

(75,202

)

487,142

TOTAL ASSETS LESS CURRENT LIABILITIES

4,950,954

4,511,599

CREDITORS

Amounts falling due after more than one year

9

(840,504

)

(224,157

)

PROVISIONS FOR LIABILITIES

(334,662

)

(79,222

)

NET ASSETS

3,775,788

4,208,220

CAPITAL AND RESERVES

Called up share capital

300

300

Fair value reserve

1,452,097

1,676,722

Retained earnings

2,323,391

2,531,198

3,775,788

4,208,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:

T R Emlyn Jones - Director

1.	STATUTORY INFORMATION

Templetone Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of the Section 1A "Small Entities" and the companies Act 2006. The financial statements have been prepared under the historical cost convention as modified to by the revaluation of certain assets.

TURNOVER

Turnover represents amounts chargeable, net of value added tax, in respect of services to customers.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, including trade and other debtors, cash and bank are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

OPERATING LEASES

Rentals receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

FIXED ASSET INVESTMENTS

Interests in associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

21,369

DEPRECIATION

At 1 April 2024

20,484

Charge for year

221

At 31 March 2025

20,705

NET BOOK VALUE

At 31 March 2025

664

At 31 March 2024

885

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

472

NET BOOK VALUE

At 31 March 2025

472

At 31 March 2024

472

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

4,023,100

Additions

1,226,545

Revaluations

(224,625

)

At 31 March 2025

5,025,020

NET BOOK VALUE

At 31 March 2025

5,025,020

At 31 March 2024

4,023,100

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

1,196,763

Valuation in 2020

346,022

Valuation in 2019

40,000

Valuation in 2017

25,796

Valuation in 2015

18,516

Cost

3,397,923

5,025,020

The fair value of the investment property has been arrived at on the basis of a valuation carried out by Mr J Adams BSc (Hons) MRICS, who is a director of the company.

If the investment properties were to be sold at the balance sheet date a chargeable gain would arise leading to a tax liability of £334,662 (2024: £79,222) . This deferred tax has been provided for in the financial statements.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

29,791

54,247

Other debtors

10,886

8,912

40,677

63,159

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

32,274

30,503

Trade creditors

-

1,118

Amounts owed to participating interests

211,009

320,516

Taxation and social security

37,722

47,278

Other creditors

129,737

51,076

410,742

450,491

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

840,504

224,157

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

740,574

121,311

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

872,778

254,660

Security has been given by the company on the bank loans and overdrafts. There are charges held over the investment properties held by the company and any rental income due on property leases held by the company.

11.	RELATED PARTY DISCLOSURES

Company with participating interest

The company received a £50,000 loan from with participating interest. The balance due from the loan at the year end was £18,512 (2024: £28,512).

During the year, the company has charged management fees of £14,500 (2024: £52,000) to a company with participating interest.

During the year, the company incurred a consulting expenses of £5,000 (2024: £30,000) from a company which was jointly owned by a director and his spouse.

The total balance due to this company at the year end was £211,009 (2024: £320,515), including the loan balance.