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REGISTERED NUMBER: 05143472 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

TSL PROFESSIONAL PRODUCTS LTD

TSL PROFESSIONAL PRODUCTS LTD (REGISTERED NUMBER: 05143472)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TSL PROFESSIONAL PRODUCTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Mr C Exelby
Mr M J Davies
Mr G K Degg
Mr M Quade
Mr D Bryan





SECRETARY: Mr C Exelby





REGISTERED OFFICE: Mercury House
19-21 Chapel Street
Marlow
Bucks
SL7 3HN





REGISTERED NUMBER: 05143472 (England and Wales)





ACCOUNTANTS: Richardson Jones
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

TSL PROFESSIONAL PRODUCTS LTD (REGISTERED NUMBER: 05143472)

BALANCE SHEET
30TH JUNE 2024

30.6.24 30.6.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 414,750 419,728
Tangible assets 5 60,597 67,337
Investments 6 - -
475,347 487,065

CURRENT ASSETS
Stocks 1,223,216 1,405,958
Debtors 7 1,856,584 2,163,851
Cash at bank and in hand 705,696 675,664
3,785,496 4,245,473
CREDITORS
Amounts falling due within one year 8 743,367 918,623
NET CURRENT ASSETS 3,042,129 3,326,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,517,476

3,813,915

CREDITORS
Amounts falling due after more than one
year

9

194,400

291,600
NET ASSETS 3,323,076 3,522,315

CAPITAL AND RESERVES
Called up share capital 12 2,500 2,500
Retained earnings 13 3,320,576 3,519,815
SHAREHOLDERS' FUNDS 3,323,076 3,522,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 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.

TSL PROFESSIONAL PRODUCTS LTD (REGISTERED NUMBER: 05143472)

BALANCE SHEET - continued
30TH JUNE 2024


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 26th March 2025 and were signed on its behalf by:





Mr M Quade - Director


TSL PROFESSIONAL PRODUCTS LTD (REGISTERED NUMBER: 05143472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

TSL Professional Products 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill being an amount paid in connection with the acquisition of the company's business in 2011 has now been fully written off.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Website development - 25% on cost
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

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

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

TSL PROFESSIONAL PRODUCTS LTD (REGISTERED NUMBER: 05143472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1st July 2023 3,363,000 578,280 3,941,280
Additions - 167,193 167,193
At 30th June 2024 3,363,000 745,473 4,108,473
AMORTISATION
At 1st July 2023 3,363,000 158,552 3,521,552
Charge for year - 172,171 172,171
At 30th June 2024 3,363,000 330,723 3,693,723
NET BOOK VALUE
At 30th June 2024 - 414,750 414,750
At 30th June 2023 - 419,728 419,728

5. TANGIBLE FIXED ASSETS
Website Improvements Plant and
development to property machinery
£ £ £
COST
At 1st July 2023 13,120 113,760 53,255
Additions - - 5,418
At 30th June 2024 13,120 113,760 58,673
DEPRECIATION
At 1st July 2023 13,120 113,760 22,251
Charge for year - - 11,342
At 30th June 2024 13,120 113,760 33,593
NET BOOK VALUE
At 30th June 2024 - - 25,080
At 30th June 2023 - - 31,004

TSL PROFESSIONAL PRODUCTS LTD (REGISTERED NUMBER: 05143472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1st July 2023 18,202 265,060 463,397
Additions - 11,445 16,863
At 30th June 2024 18,202 276,505 480,260
DEPRECIATION
At 1st July 2023 12,489 234,440 396,060
Charge for year 1,581 10,680 23,603
At 30th June 2024 14,070 245,120 419,663
NET BOOK VALUE
At 30th June 2024 4,132 31,385 60,597
At 30th June 2023 5,713 30,620 67,337

6. FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

TSL Products Inc
Registered office: 19770 Bahama Street, Northridge, CA, 91324, USA.
Nature of business: Design & manufacture of broadcasting equipment.
%
Class of shares: holding
Ordinary 100.00
30.6.24 30.6.23
£ £
Aggregate capital and reserves (194,250 ) (3,197,150 )
Profit/(loss) for the year 2,994,808 (551,052 )

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Trade debtors 110,175 584,221
Amounts owed by group undertakings 1,573,252 1,447,210
Other debtors 100 100
Prepayments & accrued income 173,057 132,320
1,856,584 2,163,851

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Bank loans and overdrafts 97,200 97,200
Trade creditors 274,261 346,864
Amounts owed to group undertakings 122,090 233,149
Social security and other taxes 52,534 62,039
Value added tax 37,078 15,654
Other creditors 102,593 12,867
Accruals 57,611 150,850
743,367 918,623

TSL PROFESSIONAL PRODUCTS LTD (REGISTERED NUMBER: 05143472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£ £
Bank loans - 1-2 years 97,200 97,200
Bank loans - 2-5 years 97,200 194,400
194,400 291,600

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£ £
Between one and five years 597,051 767,637

11. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£ £
Bank loans 291,600 388,800

Amounts due to the company's bankers are secured by a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant and machinery.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £ £
1,500 A of £1 £1 1,500 1,500

Allotted and issued:
Number: Class: Nominal 30.6.24 30.6.23
value: £ £
1,000 Ordinary £1 1,000 1,000

13. RESERVES
Retained
earnings
£

At 1st July 2023 3,519,815
Deficit for the year (199,239 )
At 30th June 2024 3,320,576

14. ULTIMATE CONTROLLING PARTY

Mr B E MacGregor and Mr D J MacGregor, directors and majority shareholders of the company's immediate parent company, are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.