Tellspec Ltd 09616121 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of developing sensors for the health sector Digita Accounts Production Advanced 6.30.9574.0 true true 09616121 2023-01-01 2023-12-31 09616121 2023-12-31 09616121 core:CurrentFinancialInstruments 2023-12-31 09616121 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09616121 core:FurnitureFittingsToolsEquipment 2023-12-31 09616121 bus:SmallEntities 2023-01-01 2023-12-31 09616121 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09616121 bus:FullAccounts 2023-01-01 2023-12-31 09616121 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09616121 bus:RegisteredOffice 2023-01-01 2023-12-31 09616121 bus:Director1 2023-01-01 2023-12-31 09616121 bus:Director2 2023-01-01 2023-12-31 09616121 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09616121 bus:Agent1 2023-01-01 2023-12-31 09616121 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 09616121 core:OfficeEquipment 2023-01-01 2023-12-31 09616121 countries:AllCountries 2023-01-01 2023-12-31 09616121 2022-12-31 09616121 core:FurnitureFittingsToolsEquipment 2022-12-31 09616121 2022-01-01 2022-12-31 09616121 2022-12-31 09616121 core:CurrentFinancialInstruments 2022-12-31 09616121 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09616121 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registrar

Registration number: 09616121

Tellspec Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Tellspec Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Tellspec Ltd

Company Information

Directors

I Correa

A J Gill

Registered office

Mountbatten House
1 Grosvenor Square
Southampton
Hampshire
S015 2JU

Bankers

Wise Payments Limited
Shoreditch
6th Floor
The Tea Buidling
56 Shoreditch High Street
London
E1 6JJ

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Tellspec Ltd

(Registration number: 09616121)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,198

1,369

Current assets

 

Debtors

5

135,057

179,377

Cash at bank and in hand

 

13,245

3,259

 

148,302

182,636

Creditors: Amounts falling due within one year

6

(129,921)

(47,887)

Net current assets

 

18,381

134,749

Net assets

 

19,579

136,118

Capital and reserves

 

Called up share capital

100

100

Retained earnings

19,479

136,018

Shareholders' funds

 

19,579

136,118

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 16 July 2024 and signed on its behalf by:
 

I Correa
Director

 

Tellspec Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: Mountbatten House, 1 Grosvenor Square, Southampton, Hampshire, S015 2JU.

These financial statements were authorised for issue by the Board on 16 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Going concern

The financial statements have been prepared on a going concern basis. The company is supported by the director and other group companies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of sensors in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

Tellspec Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 2).

 

Tellspec Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 January 2023

2,986

2,986

Additions

183

183

At 31 December 2023

3,169

3,169

Depreciation

At 1 January 2023

1,617

1,617

Charge for the year

354

354

At 31 December 2023

1,971

1,971

Carrying amount

At 31 December 2023

1,198

1,198

At 31 December 2022

1,369

1,369

5

Debtors

2023
£

2022
£

Trade debtors

24,329

23,936

Other debtors

110,728

155,441

135,057

179,377

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

6,388

-

Taxation and social security

9,594

8,811

Accruals and deferred income

2,325

5,539

Other creditors

111,614

33,537

129,921

47,887