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REGISTERED NUMBER: 05531603 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 June 2023

for

TEL Group Ltd

TEL Group Ltd (Registered number: 05531603)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TEL Group Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: A M Dobinson
D J Delaney





SECRETARY: A M Dobinson





REGISTERED OFFICE: 1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT





REGISTERED NUMBER: 05531603 (England and Wales)





ACCOUNTANTS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT

TEL Group Ltd (Registered number: 05531603)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 235,782 160,080

CURRENT ASSETS
Inventories 6 103,019 59,922
Debtors 7 641,073 275,865
Cash at bank 262,475 246,302
1,006,567 582,089
CREDITORS
Amounts falling due within one year 8 843,621 367,991
NET CURRENT ASSETS 162,946 214,098
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,728

374,178

CREDITORS
Amounts falling due after more than one
year

9

(286,252

)

(294,390

)

PROVISIONS FOR LIABILITIES (47,366 ) (35,327 )
NET ASSETS 65,110 44,461

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 65,010 44,361
SHAREHOLDERS' FUNDS 65,110 44,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

TEL Group Ltd (Registered number: 05531603)

Balance Sheet - continued
30 June 2023


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 14 February 2024 and were signed on its behalf by:





D J Delaney - Director


TEL Group Ltd (Registered number: 05531603)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

TEL Group Ltd 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 (£).


The company's trading address is Second Floor Front, Virginia House, 56 Warwick Road, Solihull, West Midlands. B92 7HX.

2. STATEMENT OF COMPLIANCE

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. There were no material departures from that accounting standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of products supplied and services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

TEL Group Ltd (Registered number: 05531603)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Income recognition
Income is recognised when services are provided to customers as this represents the substance of the transactions.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 32 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 9,700 20,450 165,728 50,814 246,692
Additions 5,652 637 132,527 10,410 149,226
Disposals (6,700 ) (926 ) (33,516 ) (10,008 ) (51,150 )
At 30 June 2023 8,652 20,161 264,739 51,216 344,768
DEPRECIATION
At 1 July 2022 6,810 6,421 51,162 22,219 86,612
Charge for year 2,566 3,949 44,599 9,579 60,693
Eliminated on disposal (6,700 ) (926 ) (22,577 ) (8,116 ) (38,319 )
At 30 June 2023 2,676 9,444 73,184 23,682 108,986
NET BOOK VALUE
At 30 June 2023 5,976 10,717 191,555 27,534 235,782
At 30 June 2022 2,890 14,029 114,566 28,595 160,080

TEL Group Ltd (Registered number: 05531603)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022 132,211
Additions 131,927
At 30 June 2023 264,138
DEPRECIATION
At 1 July 2022 28,585
Charge for year 44,549
At 30 June 2023 73,134
NET BOOK VALUE
At 30 June 2023 191,004
At 30 June 2022 103,626

6. INVENTORIES
30.6.23 30.6.22
£    £   
Stocks 103,019 59,922

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 527,415 173,925
Other debtors 43,461 44,470
Prepayments and accrued income 70,197 57,470
641,073 275,865

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 21,818 21,818
Other loans 37,524 42,005
Hire purchase contracts (see note 10) 69,916 32,077
Trade creditors 376,122 126,015
Tax 40,593 30,905
Social security and other taxes 155,440 75,796
Other creditors 7,435 4,424
Directors' current accounts - 14
Accruals and deferred income 134,773 34,937
843,621 367,991

TEL Group Ltd (Registered number: 05531603)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 43,655 65,455
Other loans 117,217 155,746
Hire purchase contracts (see note 10) 125,380 73,189
286,252 294,390

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.23 30.6.22
£    £   
Net obligations repayable:
Within one year 69,916 32,077
Between one and five years 125,380 73,189
195,296 105,266

Non-cancellable operating leases
30.6.23 30.6.22
£    £   
Within one year - 2,472

11. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 65,473 87,273
Hire purchase contracts 195,296 105,266
260,769 192,539

Barclays Security Trustee Limited hold a fixed and floating charge over the undertaking of the company dated 2 June 2020.

Obligations under finance leases and hire purchase contracts are secured on the related lease assets.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

TEL Group Ltd (Registered number: 05531603)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

13. CAPITAL COMMITMENTS
30.6.23 30.6.22
£    £   
Contracted but not provided for in the
financial statements - -

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
A M Dobinson
Balance outstanding at start of year 9,997 -
Amounts advanced 99,477 9,997
Amounts repaid (102,515 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,959 9,997

D J Delaney
Balance outstanding at start of year - -
Amounts advanced 19,766 -
Amounts repaid (11,278 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,488 -

The directors' current accounts are unsecured and interest free with no specific repayment terms.

Mr A. M Dobinson and Mrs. A. G Dobinson have provided a personal guarantee of £15,000 to Barclays Bank plc dated 5 May 2016 in support of the company's bank borrowings.

15. RELATED PARTY DISCLOSURES

In the year ended 30 June 2023, the company paid interim dividends of £112,778 (2022 - £114,400) to the directors.

TEL Group Ltd and GMJL Management LLP are related parties by virtue of the fact that Mr. A. M Dobinson and Mr. D. J Delaney are directors of TEL Group Ltd and partners of GMJL Management LLP.

At 30 June 2023, TEL Group Ltd advanced a loan of £26,390 (2022 - £33,593). This loan is interest free with no specific repayment terms and is presented within debtors: amounts falling due within one year.

In the year under review, TEL Group Ltd was invoiced £86,768 (2022 - £28,466) by GMJL Management LLP in respect of various services provided to the company by that organisation. As at 30 June 2023, TEL Group Ltd owed £5,520 to GMJL Management LLP by way of a trading balance.

These transactions were conducted at normal commercial rates.

16. CHARITABLE DONATIONS

In the year under review, the company made charitable donations totalling £1,809 in support of research and schools in the West Midlands.