REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
FOR |
TSL PROFESSIONAL PRODUCTS LTD |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Tangible fixed assets |
Website development | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
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 |
Additions |
At 30th June 2024 |
AMORTISATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
5. | TANGIBLE FIXED ASSETS |
Website | Improvements | Plant and |
development | to property | machinery |
£ | £ | £ |
COST |
At 1st July 2023 |
Additions |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
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 |
Additions |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
6. | FIXED ASSET INVESTMENTS |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 19770 Bahama Street, Northridge, CA, 91324, USA. |
Nature of business: |
% |
Class of shares: | holding |
30.6.24 | 30.6.23 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Profit/(loss) for the year | ( |
) |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments & accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Value added tax | 37,078 | 15,654 |
Other creditors | 102,593 | 12,867 |
Accruals | 57,611 | 150,850 |
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 |
Bank loans - 2-5 years |
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 |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans |
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: | £ | £ |
A of £1 | £1 | 1,500 | 1,500 |
Allotted and issued: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
13. | RESERVES |
Retained |
earnings |
£ |
At 1st July 2023 |
Deficit for the year | ( |
) |
At 30th June 2024 |
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. |