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Registered number: 06512992
Tessolve Semiconductor Limited
Financial Statements
For The Year Ended 31 March 2024
Oakensen (Bristol)
Chartered Accountants
Westbury Court Church Road
Westbury-on-Trym
Bristol
BS9 3EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 06512992
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,153 4,573
Investments 6 49,188 49,188
52,341 53,761
CURRENT ASSETS
Debtors 7 724,616 632,064
Cash at bank and in hand 350,901 455,436
1,075,517 1,087,500
Creditors: Amounts Falling Due Within One Year 8 (239,977 ) (608,873 )
NET CURRENT ASSETS (LIABILITIES) 835,540 478,627
TOTAL ASSETS LESS CURRENT LIABILITIES 887,881 532,388
PROVISIONS FOR LIABILITIES
Deferred Taxation (712 ) (869 )
NET ASSETS 887,169 531,519
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 887,168 531,518
SHAREHOLDERS' FUNDS 887,169 531,519
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M G Bartley
Director
17 January 2025
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Tessolve Semiconductor Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06512992 . The registered office is Westbury Court, Church Road, Westbury-On-Trym, Bristol, BS9 3EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are patents and trademarks.
Seperately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Research and Development
Expenditure on clearly defined projects which are considered to be technically feasible and considered commercially viable are capitalised as intangible fixed assets. Amortisation of such expenditure is applied from the commencement of commercial production or application.
The capitalised development costs are subsequently amortised so as to write off the cost, less any estimated residual value, on a straight line basis over their expected useful economic lives of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight line per annum
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2.6. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. 
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Investments
Investments in subsidiary undertakings are recognised at cost.
2.11. Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
2.12. Name of parent group
These financial statements are consolidated in the financial statements of Hero Electronix Private Ltd.
The financial statements of Hero Electronix Private Ltd. may be obtained from 503, Rectangle-1,D4 Saket District Centre New Delhi, Delhi India.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 10)
11 10
4. Intangible Assets
Tradmarks, patents and licences Development Costs Total
£ £ £
Cost or Valuation
As at 1 April 2023 6,758 138,386 145,144
As at 31 March 2024 6,758 138,386 145,144
Amortisation
As at 1 April 2023 6,758 138,386 145,144
As at 31 March 2024 6,758 138,386 145,144
Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 - - -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 15,273
Additions 557
Disposals (3,917 )
As at 31 March 2024 11,913
Depreciation
As at 1 April 2023 10,700
Provided during the period 1,977
Disposals (3,917 )
As at 31 March 2024 8,760
Net Book Value
As at 31 March 2024 3,153
As at 1 April 2023 4,573
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6. Investments
Subsidiaries
£
Cost
As at 1 April 2023 70,285
As at 31 March 2024 70,285
Provision
As at 1 April 2023 21,097
As at 31 March 2024 21,097
Net Book Value
As at 31 March 2024 49,188
As at 1 April 2023 49,188
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 345,356 291,975
Other debtors 57,548 95,513
Amounts owed by related parties 321,712 244,576
724,616 632,064
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,376 22,164
Taxes and social security 149,629 90,600
Other creditors 22,120 31,381
Accruals and deferred income 40,795 56,926
Amounts owed to related parties 4,057 407,802
239,977 608,873
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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10. Related Party Transactions
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
11. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
12. Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking                                 Registered office                        Holding         Proportion of voting rights
                                                                                                                                           and shares held
Subsidiary                                                                                                                     2024                  2023
undertakings
Test and Verification Solutions     Kurt-Blaum-Platz 8,                     Ordinary              100%                 100% 
TVS GmbH Germany                   D-63450 Hanau, Germany
Test and Verification Solutions     03-02 Golden Wheel Building ,   Ordinary              100%                  100%
Singapore PTE. Ltd                       41 Kallang Pudding Road             
                                                       Singapore 349316
Test and Verification Solutions      4500, 140th Avenue North          Ordinary              100%                  100%
LLC                                                Suite 101, Clearwater,
                                                        Florida 33762-3848 USA
Subsidiary undertakings
Test and Verification Solutions TVS GmbH Germany
The principal activity of Test and Verification Solutions TVS GmbH Germany is test and verification services.
Test and Verification Solutions Singapore PTE. Ltd
The principal activity of Test and Verification Solutions Singapore PTE. Ltd is test and verification services.
Test and Verification Solutions LLC
The principal activity of Test and Verification Solutions LLC is that of an inactive company as of 31 March 2024.
Parent and ultimate parent undertaking
The company's immediate parent is Tessolve Engineering Services PTE Ltd, incorporated in Singapore.
The ultimate parent is Hero Electronix Private Ltd, incorporated in India. 
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13. Audit Information
The auditors report on the account of Tessolve Semiconductor Limited for the year ended 31 March 2024 was unqualified
The auditor's report was signed by David Oakensen (Senior Statutory Auditor) for and on behalf of Oakensen (Bristol) Limited , Statutory Auditor
Oakensen (Bristol) Limited
Westbury Court
Church Road
Westbury-On-Trym
Bristol
BS9 3EF
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