Silverfin false false 31/03/2024 01/04/2023 31/03/2024 M L Doppert 04/03/2013 M C Doppert 04/03/2013 M Van Aalten 01/05/2022 G C Brokking 01/08/2023 14 August 2024 The principal activity of the Company is that of Lean Six Sigma training and consultancy. 08428381 2024-03-31 08428381 bus:Director1 2024-03-31 08428381 bus:Director2 2024-03-31 08428381 bus:Director3 2024-03-31 08428381 bus:Director4 2024-03-31 08428381 2023-03-31 08428381 core:CurrentFinancialInstruments 2024-03-31 08428381 core:CurrentFinancialInstruments 2023-03-31 08428381 core:ShareCapital 2024-03-31 08428381 core:ShareCapital 2023-03-31 08428381 core:RetainedEarningsAccumulatedLosses 2024-03-31 08428381 core:RetainedEarningsAccumulatedLosses 2023-03-31 08428381 core:OfficeEquipment 2023-03-31 08428381 core:OfficeEquipment 2024-03-31 08428381 bus:OrdinaryShareClass1 2024-03-31 08428381 2023-04-01 2024-03-31 08428381 bus:FilletedAccounts 2023-04-01 2024-03-31 08428381 bus:SmallEntities 2023-04-01 2024-03-31 08428381 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08428381 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08428381 bus:Director1 2023-04-01 2024-03-31 08428381 bus:Director2 2023-04-01 2024-03-31 08428381 bus:Director3 2023-04-01 2024-03-31 08428381 bus:Director4 2023-04-01 2024-03-31 08428381 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 08428381 2022-04-01 2023-03-31 08428381 core:OfficeEquipment 2023-04-01 2024-03-31 08428381 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08428381 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08428381 (England and Wales)

TLSSC LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

TLSSC LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TLSSC LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
TLSSC LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 351 0
351 0
Current assets
Debtors 4 64,498 75,797
Cash at bank and in hand 44,902 37,182
109,400 112,979
Creditors: amounts falling due within one year 5 ( 28,115) ( 56,937)
Net current assets 81,285 56,042
Total assets less current liabilities 81,636 56,042
Net assets 81,636 56,042
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 81,634 56,040
Total shareholders' funds 81,636 56,042

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of TLSSC Limited (registered number: 08428381) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M L Doppert
Director

14 August 2024

TLSSC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TLSSC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TLSSC Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised on the delivery of training courses.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 4 3

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2023 982 982
Additions 603 603
At 31 March 2024 1,585 1,585
Accumulated depreciation
At 01 April 2023 982 982
Charge for the financial year 252 252
At 31 March 2024 1,234 1,234
Net book value
At 31 March 2024 351 351
At 31 March 2023 0 0

4. Debtors

2024 2023
£ £
Trade debtors 64,498 66,288
Accrued income 0 9,509
64,498 75,797

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 481 103
Accruals and deferred income 6,021 26,701
Corporation tax 6,134 9,383
Other taxation and social security 15,479 20,750
28,115 56,937

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20 Ordinary shares of £ 0.10 each 2 2