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 2021

FOR

TEMPLEVIEW DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S A Doyle

Mrs L C Doyle

REGISTERED OFFICE:

260 - 270

Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

BUSINESS ADDRESS:

Kitchen End House

Kitchen End

Silsoe

Beds

MK45 4QT

REGISTERED NUMBER:

03133161 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Tangible assets

4

2,297

1,964

CURRENT ASSETS

Stocks

5

1,448,854

2,902,998

Debtors

6

1,300,523

831,688

Cash at bank

142,932

1,933

2,892,309

3,736,619

CREDITORS

Amounts falling due within one year

7

2,880,660

4,718,732

NET CURRENT ASSETS/(LIABILITIES)

11,649

(982,113

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,946

(980,149

)

CREDITORS

Amounts falling due after more than one year

8

44,167

-

NET LIABILITIES

(30,221

)

(980,149

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(30,223

)

(980,151

)

SHAREHOLDERS' FUNDS

(30,221

)

(980,149

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 23 March 2022 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis which is considered to be appropriate, although the company's ability to continue trading is reliant on the continued support of the directors.

Turnover

Turnover represents the net sale of land and properties.

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and

services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 initially measured at cost and subsequently at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on disposal of an asset is determined at the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Stocks

Stocks and work in progress are initially recognised at cost. After initial recognition, stock and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell.

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.

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 (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2020

5,779

5,547

7,844

19,170

Additions

-

-

891

891

At 30 June 2021

5,779

5,547

8,735

20,061

DEPRECIATION

At 1 July 2020

5,422

4,337

7,447

17,206

Charge for year

54

182

322

558

At 30 June 2021

5,476

4,519

7,769

17,764

NET BOOK VALUE

At 30 June 2021

303

1,028

966

2,297

At 30 June 2020

357

1,210

397

1,964

5.

STOCKS

2021

2020

£

£

Work-in-progress

1,448,854

2,902,998

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

380,000

-

Other debtors

900,844

824,140

VAT

19,679

7,548

1,300,523

831,688

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

31,368

995,650

Trade creditors

121,366

109,340

Taxation and social security

4,109

-

Other creditors

1,584,633

1,657,729

Directors' loan accounts

1,134,184

1,951,013

Accruals and deferred income

5,000

5,000

2,880,660

4,718,732

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

10,000

-

Bank loans - 2-5 years

30,000

-

Bank loans more than 5 years

4,167

-

44,167

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

4,167

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

75,535

995,650

The bank loan was secured against the freehold land, by way of fixed charge plus a floating charge over the relevant site to which it relates.