Temple Garth Limited
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Registered number: |
03387226
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Directors' Report |
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The directors present their report and accounts for the year ended 30 November 2015. |
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Principal activities |
The company's principal activity during the year continued to be property development.
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Directors |
The following persons served as directors during the year: |
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D C Chambers
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P N P McSorley
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J W Lockwood
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G W Lockwood
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2015 Review |
Activity at South Road Bourne continued with final works on the estate infrastructure and work on a possible deal for the freehold sale of the final plot to Lidl UK GmbH. The sales for the year was a land sale at Gateway Park Lincoln. |
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Future Developments |
Development land is being actively sort which will allow Temple Garth to take advantage of Castle Square Developments Ltd and Lindum Group Ltd sector, financial and management expertise. |
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Small company provisions |
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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This report was approved by the board on 3 March 2016 and signed on its behalf. |
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J W Lockwood |
Director |
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Temple Garth Limited
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Notes to the Accounts |
for the year ended 30 November 2015
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
20% straight line
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Motor vehicles |
25% straight line
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Stocks |
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Stock is valued at the lower of cost and net realisable value. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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Foreign currencies |
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Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
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Leasing and hire purchase commitments |
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Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
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Pensions |
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The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
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2 |
Interest payable |
2015 |
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2014 |
£ |
£ |
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Interest payable |
- |
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8 |
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3 |
Taxation |
2015 |
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2014 |
£ |
£ |
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UK corporation tax |
38,738 |
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59,850 |
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4 |
Debtors |
2015 |
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2014 |
£ |
£ |
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Trade debtors |
12,000 |
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- |
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Other debtors |
- |
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1,527 |
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12,000 |
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1,527 |
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5 |
Creditors: amounts falling due within one year |
2015 |
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2014 |
£ |
£ |
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Trade creditors |
21,573 |
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3,876 |
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Corporation tax |
38,738 |
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59,850 |
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Other creditors |
315,621 |
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160,626 |
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375,932 |
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224,352 |
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6 |
Share capital |
Nominal |
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2015 |
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2015 |
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2014 |
value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares
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£1 each |
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- |
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100 |
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100 |
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7 |
Profit and loss account |
2015 |
£ |
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At 1 December 2014 |
23,757 |
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Profit for the year |
154,952 |
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At 30 November 2015 |
178,709 |
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8 |
Dividends |
2015 |
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2014 |
£ |
£ |
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Dividends for which the company became liable during the year: |
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Dividends paid |
- |
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300,000 |
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9 |
Related party transactions |
2015 |
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2014 |
£ |
£ |
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Lindum Group Limited
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Joint Owner of Temple Garth Limited
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Included in creditors falling due within one year is a loan from Lindum Group Limited
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[Amount due from (to) the related party] |
(135,000) |
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(80,000) |
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Castle Square Developments Limited
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Joint Owner of Temple Garth Limited
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Included in creditors falling due within one year is a loan from Castle Square Developments Limited
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[Amount due from (to) the related party] |
(135,000) |
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(80,000) |
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Lindum Group Limited
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Joint Owner of Temple Garth Limited
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Works purchased from Lindum Group 2015 £22,402 (2014 £19,816)
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