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Registered number: 10138941

Telserve Limited

ACCOUNTS
FOR THE YEAR ENDED 30/09/2024


Telserve Limited

ACCOUNTS
FOR THE YEAR ENDED 30/09/2024
DIRECTORS
Andrew Wood
Keith Curran
REGISTERED OFFICE
Second Floor
Euston House
Euston Way
Shropshire
TF3 4LY
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10138941
BANKERS
Santander UK PLC, Barclays Bank PLC

Telserve Limited

ACCOUNTS
FOR THEYEARENDED30/09/2024
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Telserve Limited

BALANCE SHEET AT 30/09/2024
20242023
Notes££
FIXED ASSETS
Tangible assets3133,946209,855
CURRENT ASSETS
Debtors4661,522824,476
Cash at bank and in hand231,614121,356
893,136945,832
CREDITORS: Amounts falling due within one year54,710,2152,874,847
NET CURRENT LIABILITIES(3,817,079)(1,929,015)
TOTAL ASSETS LESS CURRENT LIABILITIES(3,683,133)(1,719,160)
PROVISIONS FOR LIABILITIES AND CHARGES679,07679,076
NET LIABILITIES(3,762,209)(1,798,236)
CAPITAL AND RESERVES
Called up share capital7100100
Profit and loss account(3,762,309)(1,798,336)
SHAREHOLDERS' FUNDS(3,762,209)(1,798,236)
For the year ending 30/09/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 26/06/2025 and signed on their behalf by
.............................
Andrew Wood
Director

Telserve Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/09/2024
1. ACCOUNTING POLICIES
1a. Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 33% straight line Equipment - 33% straight line
Equipmentstraight line33%
1b. Government Grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Telserve Limited

1c. Basis Of Preparation
The abridged financial statements have been prepared on a going concern basis following an assessment by the directors.
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
The abridged financial statements are prepared in pound sterling, which is the functional currency of the entity.
1d. Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
1e. Impairment Of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
1f. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged Statement of Financial Position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Telserve Limited

1g. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
1h. Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
2. EMPLOYEES
20242023
No.No.
Average number of employees105104

Telserve Limited

3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/10/2023344,821344,821
Additions17,18617,186
At 30/09/2024362,007362,007
Depreciation
At 01/10/2023134,966134,966
For the year93,09593,095
At 30/09/2024228,061228,061
Net Book Amounts
At 30/09/2024133,946133,946
At 30/09/2023209,855209,855
4. DEBTORS 20242023
££
Amounts falling due within one year
Debtors661,522824,476
661,522824,476
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Creditors: amounts falling due within one year470,125565,397
Amounts due to group4,240,0902,309,450
4,710,2152,874,847
6. PROVISIONS FOR LIABILITIES 20242023
££
Provisions79,07679,076
79,07679,076

Telserve Limited

7. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
8. RELATED PARTY TRANSACTIONS
The company is 100% owned by Plan Ventures Limited and the ultimate parent is DLA Limited. The directors consider the ultimate controlling party to be Daniel Craddock.
The balance on the non-interest bearing intercompany loan as at 30 September 2024 is £4,240,090 (2023 - £2,309,450). The parent has issued a letter of support stating that it will not request repayment of the loan until the company has sufficient liquid assets to do so.
The directors of the company during the year were K Curran and A Wood.
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the period the directors entered into the following advances and credits with the company:
30 Sep 2024
£££
Balance Brought ForwardAmounts RepaidBalance Outstanding
Mr A Wood000
30 Sep 2023
£££
Balance Brought ForwardAmounts RepaidBalance Outstanding
Mr A Wood(4,701)4,7010
Mr S Box15,790(15,790)0
Total11,089(11,089)0
10. STATEMENT OF COMPLIANCE
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and in compliance with the Companies Act 2006.
All of the members have consented to the preparation of the abridged Statement of Financial Position for the period ending 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

Telserve Limited

11. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Second Floor, Euston House, Euston Way, Telford, Shropshire, TF3 4LY, England.