Templar Ventures Limited - Period Ending 2015-11-30

Registration number: 07454938

Templar Ventures Limited

Annual Report and Unaudited Accounts

for the Year Ended 30 November 2015
 

Spirare Limited
Chartered Certified Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

Templar Ventures Limited
(Registration number: 07454938)
Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Current assets
Cash at bank and in hand					26,358			80
Creditors: Amounts falling due within one year		4			(111,712)			(116,291)
Total assets less current liabilities					(85,354)			(116,211)
Provisions for liabilities					-			(71)
Net liabilities					(85,354)			(116,282)
Capital and reserves
Called up share capital		5			100			100
Profit and loss account					(85,454)			(116,382)
Shareholders' deficit					(85,354)			(116,282)

For the year ending 30 November 2015 the company was entitled to exemption under section 480 of the Companies Act 2006 relating to dormant companies.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the director on 31 August 2016

.........................................
Mr A Bates
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Templar Ventures Limited
Notes to the financial statements for the Year Ended 30 November 2015
......... continued

1	Accounting policies

Trading status

The company was dormant and has not traded during the year.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	straight line over two years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated resudual value, over their expected useful life as follows:

Asset class	Depreciation method and rate
Plant and machinery	33.3% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Templar Ventures Limited
Notes to the financial statements for the Year Ended 30 November 2015
......... continued

2	Intangible fixed assets

		Goodwill £			Total £
Cost
At 1 December 2014		240,000			240,000
At 30 November 2015		240,000			240,000
Amortisation
At 1 December 2014		240,000			240,000
At 30 November 2015		240,000			240,000
Net book value
At 30 November 2015		-			-
At 30 November 2014		-			-

3	Tangible fixed assets

		Plant and machinery £			Total £
Cost or valuation
At 1 December 2014		1,290			1,290
Depreciation
At 1 December 2014		1,290			1,290
Net book value
At 30 November 2015		-			-
At 30 November 2014		-			-

4	Creditors: Amounts falling due within one year

		2015 £			2014 £
Trade creditors		493			-
Other creditors		111,219			116,291
		111,712			116,291

Page 3

Templar Ventures Limited
Notes to the financial statements for the Year Ended 30 November 2015
......... continued

5	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

6	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Mr A Bates (Director) The director maintains an interest free loan account with the company. At the balance sheet date the amount due to Mr A Bates was £52,686 (2014 - £57,818).

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