ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 October 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 05597981

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 OCTOBER 2025

	TEMPVS LIMITED


TEMPVS LIMITED

COMPANY INFORMATION

Director	N Hughes


Company secretary	P B Hughes


Registered number	05597981


Registered office	Suite F23 Business & Technology Centre
	Bessemer Drive
	Stevenage
	SG1 2DX


Accountants	Menzies LLP
	Chartered Accountants
	Richmond House
	Walkern Road
	Stevenage
	SG1 3QP


TEMPVS LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 6


TEMPVS LIMITED REGISTERED NUMBER:05597981

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		12,199		13,184
			12,199		13,184
Current assets
Stocks		1,197,327		1,148,671
Debtors: amounts falling due within one year	5	154,251		37,571
Cash at bank and in hand		260,911		200,923
		1,612,489		1,387,165
Creditors: amounts falling due within one year	6	(516,870)		(299,735)
Net current assets			1,095,619		1,087,430
Total assets less current liabilities			1,107,818		1,100,614
Creditors: amounts falling due after more than one year	7		-		(41,667)
Provisions for liabilities
Deferred tax		(2,936)		(2,505)
			(2,936)		(2,505)
Net assets			1,104,882		1,056,442

Capital and reserves
Called up share capital	2	2
Profit and loss account	1,104,880	1,056,440
	1,104,882	1,056,442

Page 1


TEMPVS LIMITED REGISTERED NUMBER:05597981

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2025

The director considers 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 director acknowledges his 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 income and retained earnings 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 by:

................................................

N Hughes

Director

Date: 13 May 2026

The notes on pages 3 to 6 form part of these financial statements.

Page 2


TEMPVS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.	General information

Tempvs Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given in the Company Information page of these financial statements.

The financial statements are presented in sterling which is the functional currency of the company.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated through the sale of watches and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Rental income

Rental income is recognised on a straight-line basis over the year in which the rental relates.

Page 3


TEMPVS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.4

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.

2.5

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.

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

Depreciation is provided on the following basis:

Plant and machinery

25%

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.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4


TEMPVS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.7

Financial instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 3).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 November 2024	85,863
	Additions	2,356
	At 31 October 2025	88,219
	Depreciation
	At 1 November 2024	72,679
	Charge for the year on owned assets	3,341
	At 31 October 2025	76,020
	Net book value
	At 31 October 2025	12,199
	At 31 October 2024	13,184

Debtors

					2025	2024
					£	£


Trade debtors	135,830	25,520
Amounts owed by connected undertakings	-	207
Other debtors	11,854	5,796
Prepayments and accrued income	6,567	6,048
	154,251	37,571

Page 5


TEMPVS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	2,963	1,080
Bank loans	41,667	50,000
Trade creditors	28,373	2,223
Corporation tax	20,143	3,245
Other taxation and social security	18,403	8,502
Other creditors	403,606	229,245
Accruals and deferred income	1,715	5,440
	516,870	299,735

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	-	41,667
	-	41,667

Not later than 1 year	36,000	-
Later than 1 year and not later than 5 years	36,000	-
	72,000	-

9.	Related party transactions
	At the balance sheet date the company owed £226,647 (2024: £229,106) to the director. The balance can be found within creditors due within one year and interest is being charged on this loan. Included within debtors amounts falling due within one year is an amount of £NIL (2024: £207) due from a connected undertaking. This amount is free of interest.

Page 6