Templeview Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03133161 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

TEMPLEVIEW DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S A Doyle

Mrs L C Doyle

REGISTERED OFFICE:

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

BUSINESS ADDRESS:

Kitchen End House

Kitchen End

Silsoe

Beds

MK45 4QT

REGISTERED NUMBER:

03133161 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

4

2,608

3,137

CURRENT ASSETS

Stocks

5

3,854,285

2,991,184

Debtors

6

515,148

521,484

Cash at bank

3,677

646

4,373,110

3,513,314

CREDITORS

Amounts falling due within one year

7

6,918,550

5,409,104

NET CURRENT LIABILITIES

(2,545,440

)

(1,895,790

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,542,832

)

(1,892,653

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(2,542,834

)

(1,892,655

)

SHAREHOLDERS' FUNDS

(2,542,832

)

(1,892,653

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 March 2019 and were signed on its behalf by:

Mr S A Doyle - Director

1.	STATUTORY INFORMATION

Templeview Developments Limited 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 provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the net sale of land and properties.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended by management.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

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

Going concern

The directors have considered the implications of the Insolvency Act 1986 and regard the balance sheet position

as temporary. Adequate funding to finance the company's ongoing activities for the foreseeable future has been

arranged.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially

at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest

method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2017

and 30 June 2018

5,779

5,547

7,577

18,903

DEPRECIATION

At 1 July 2017

5,198

3,577

6,991

15,766

Charge for year

87

295

147

529

At 30 June 2018

5,285

3,872

7,138

16,295

NET BOOK VALUE

At 30 June 2018

494

1,675

439

2,608

At 30 June 2017

581

1,970

586

3,137

5.

STOCKS

2018

2017

£

£

Work-in-progress

3,854,285

2,991,184

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

509,490

518,990

VAT

5,658

2,494

515,148

521,484

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

5,550,000

4,435,000

Trade creditors

9,901

133

Other creditors

530,659

491,550

Directors' loan accounts

824,990

479,921

Accruals and deferred income

3,000

2,500

6,918,550

5,409,104

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

5,550,000

4,435,000

The bank loan is secured against the freehold land, by way of fixed charge plus a floating charge over all the

property or undertakings of the company.

9.	ULTIMATE CONTROLLING PARTY

The directors, Mr S A Doyle and Mrs L C Doyle, jointly control the company by virtue of their shareholdings.