Temperate Property Limited - Accounts to registrar (filleted) - small 18.2

TEMPERATE PROPERTY LIMITED

Unaudited Financial Statements

for the Year Ended 31 January 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mr R O Jones

Ms S C Hare

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

11779650 (England and Wales)

Accountants:

Haines Watts Chartered Accountants

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Current assets

Stocks

4

1,525,720

1,488,428

Debtors

5

1,303

4,796

Cash at bank

5,337

-

1,532,360

1,493,224

Creditors

Amounts falling due within one year

6

1,752,399

1,601,764

Net current liabilities

(220,039

)

(108,540

)

Total assets less current liabilities

(220,039

)

(108,540

)

Capital and reserves

Called up share capital

8

10

10

Retained earnings

9

(220,049

)

(108,550

)

Shareholders' funds

(220,039

)

(108,540

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2021 and were signed on its behalf by:

Mr R O Jones - Director

1.	Statutory information

Temperate Property 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.

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.

Going concern

The directors have reviewed the current and projected financial position of the Company, making reasonable assumptions about future trading performance. After making enquiries and taking account of the Company's unencumbered assets and undrawn borrowing facilities, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a minimum of 12 months following the signature date. Accordingly, the financial statements have been prepared on a going concern basis.

Following the emergence and spread of the coronavirus (COVID-19) as well as its financial effects on businesses worldwide the directors have considered its effects on the business of the company and believe there are sufficient funds available for the business to continue as a going concern.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	Employees and directors

The average number of employees during the year was NIL (2020 - NIL).

4.

Stocks

2021

2020

£

£

Stocks

1,525,720

1,488,428

5.

Debtors: amounts falling due within one year

2021

2020

£

£

Other debtors

1,303

4,796

6.

Creditors: amounts falling due within one year

2021

2020

£

£

Trade creditors

2,730

-

Other creditors

1,749,669

1,601,764

1,752,399

1,601,764

7.	Secured debts

The following secured debts are included within creditors:

2021

2020

£

£

Secured loan

1,584,647

1,488,628

Other creditors includes £1,596,529 of loans in relation to development land held as stock.

All loans were secured at the year end with fixed and floating charges over the development land.

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,000

Ordinary

1p

10

10

9.

Reserves

Retained

earnings

£

At 1 February 2020

(108,550

)

Deficit for the year

(111,499

)

At 31 January 2021

(220,049

)

10.	Related party disclosures

Included in other creditors is £151,190 (2019: £145,590) owed to the directors.