31/10/2018
2018-10-31
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No description of principal activities is disclosed
2017-11-01
Sage Accounts Production 18.30 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
03642680
2017-11-01
2018-10-31
03642680
2018-10-31
03642680
2016-11-01
2017-10-31
03642680
2017-10-31
03642680
2016-10-31
03642680
bus:Director1
2017-11-01
2018-10-31
03642680
core:LandBuildings
core:OwnedOrFreeholdAssets
2018-10-31
03642680
core:WithinOneYear
2018-10-31
03642680
core:WithinOneYear
2017-10-31
03642680
core:AfterOneYear
2018-10-31
03642680
core:AfterOneYear
2017-10-31
03642680
core:RetainedEarningsAccumulatedLosses
2016-11-01
2017-10-31
03642680
core:RevaluationReserve
2017-11-01
2018-10-31
03642680
core:RetainedEarningsAccumulatedLosses
2017-11-01
2018-10-31
03642680
core:ShareCapital
2018-10-31
03642680
core:ShareCapital
2017-10-31
03642680
core:RevaluationReserve
2017-10-31
03642680
core:RetainedEarningsAccumulatedLosses
2018-10-31
03642680
core:RetainedEarningsAccumulatedLosses
2017-10-31
03642680
core:ShareCapital
2016-10-31
03642680
core:RevaluationReserve
2016-10-31
03642680
core:RetainedEarningsAccumulatedLosses
2016-10-31
03642680
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-10-31
03642680
bus:SmallEntities
2017-11-01
2018-10-31
03642680
bus:AuditExempt-NoAccountantsReport
2017-11-01
2018-10-31
03642680
bus:FullAccounts
2017-11-01
2018-10-31
03642680
bus:SmallCompaniesRegimeForAccounts
2017-11-01
2018-10-31
03642680
bus:PrivateLimitedCompanyLtd
2017-11-01
2018-10-31
Company registration number:
03642680
TEMPLEOAK PROPERTIES LIMITED
Unaudited filleted financial statements
31 October 2018
TEMPLEOAK PROPERTIES LIMITED
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
TEMPLEOAK PROPERTIES LIMITED
Statement of financial position
31 October 2018
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2018
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2017
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Note
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£
|
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£
|
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£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
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Tangible assets
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4
|
560,000
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|
|
|
560,000
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
560,000
|
|
|
|
560,000
|
|
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|
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|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
5
|
-
|
|
|
|
3,050
|
|
|
Cash at bank and in hand
|
|
|
10,234
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|
|
|
11,995
|
|
|
|
|
|
_______
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|
|
|
_______
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|
|
|
|
|
10,234
|
|
|
|
15,045
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
6
|
(
33,287)
|
|
|
|
(
50,527)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current liabilities
|
|
|
|
|
(
23,053)
|
|
|
|
(
35,482)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
536,947
|
|
|
|
524,518
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
7
|
|
|
(
156,019)
|
|
|
|
(
167,943)
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
16,002)
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|
|
|
-
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
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|
|
|
_______
|
Net assets
|
|
|
|
|
364,926
|
|
|
|
356,575
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
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Capital and reserves
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Called up share capital
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|
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2
|
|
|
|
2
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Revaluation reserve
|
|
|
|
|
-
|
|
|
|
190,301
|
Profit and loss account
|
|
|
|
|
364,924
|
|
|
|
166,272
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
364,926
|
|
|
|
356,575
|
|
|
|
|
|
_______
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|
|
_______
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|
For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
03 July 2019
, and are signed on behalf of the board by:
Mr D M Tomlin
Director
Company registration number:
03642680
TEMPLEOAK PROPERTIES LIMITED
Statement of changes in equity
Year ended 31 October 2018
|
|
Called up share capital
|
|
Revaluation reserve
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
£
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 November 2016
|
|
2
|
|
190,301
|
|
142,649
|
332,952
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
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|
23,623
|
23,623
|
|
|
|
|
|
_______
|
|
_______
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|
_______
|
_______
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
-
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|
23,623
|
23,623
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
|
At 31 October 2017 and 1 November 2017
|
|
2
|
|
190,301
|
|
166,272
|
356,575
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
|
|
8,351
|
8,351
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|
|
|
Other comprehensive income for the year:
|
|
|
|
|
|
|
|
|
|
|
Reclassification from revaluation reserve to profit and loss account
|
|
|
|
(190,301)
|
|
190,301
|
-
|
|
|
|
|
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
(
190,301)
|
|
198,652
|
8,351
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
_______
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|
_______
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|
_______
|
_______
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|
|
|
At 31 October 2018
|
|
2
|
|
-
|
|
364,924
|
364,926
|
|
|
|
|
|
_______
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|
_______
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|
_______
|
_______
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The investment property revaluation reserve was transferred to profit and loss account reserves in line with the requirements of the Financial Reporting Standard FRS 102. This transfer should have occurred at 31 October 2017.
TEMPLEOAK PROPERTIES LIMITED
Notes to the financial statements
Year ended 31 October 2018
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Rose Garth, Billing Drive, Rawdon, Leeds, LS19 6QR.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration for rents received or receivable, net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.The deferred tax provision is included in these accounts in line with the requirements of Financial Reporting Standard FRS 102. This should have been provided at 31 October 2017.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4.
Tangible assets
|
|
Freehold property
|
Total
|
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
|
Cost or valuation
|
|
|
|
|
|
|
|
|
At 1 November 2017 and 31 October 2018
|
560,000
|
560,000
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 November 2017 and 31 October 2018
|
-
|
-
|
|
|
|
|
|
|
|
_______
|
_______
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|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 October 2018
|
560,000
|
560,000
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 October 2017
|
560,000
|
560,000
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
Included within the above is investment property as follows:
|
|
£
|
|
At 1 November 2017 and 31 October 2018
|
560,000
|
|
|
_______
|
|
|
|
The investment properties were valued on an open market basis on 1 June 2016 by WSB Chartered Surveyors.
5.
Debtors
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
-
|
3,050
|
|
|
|
_______
|
_______
|
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
18,979
|
25,344
|
|
Corporation tax
|
|
5,713
|
5,691
|
|
Social security and other taxes
|
|
579
|
592
|
|
Other creditors
|
|
8,016
|
18,900
|
|
|
|
_______
|
_______
|
|
|
|
33,287
|
50,527
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due after more than one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
156,019
|
167,943
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Included within creditors: amounts falling due after more than one year is an amount of £ 70,831
(2017 £ 93,338 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loan is secured on the freehold properties and other assets of the company.