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Registered number: 03466356
Teleos Systems Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Davey Grover Ltd
Chartered Accountants
4 Fenice Court
Phoenix Business Park
St. Neots
Cambridgeshire
PE19 8EP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 03466356
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,095 5,136
Investments 5 101 101
6,196 5,237
CURRENT ASSETS
Stocks 6 23,453 24,038
Debtors 7 635,554 443,875
Cash at bank and in hand 364,565 560,484
1,023,572 1,028,397
Creditors: Amounts Falling Due Within One Year 8 (157,091 ) (171,034 )
NET CURRENT ASSETS (LIABILITIES) 866,481 857,363
TOTAL ASSETS LESS CURRENT LIABILITIES 872,677 862,600
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,052 ) (103 )
NET ASSETS 870,625 862,497
CAPITAL AND RESERVES
Called up share capital 9 100 100
Capital redemption reserve 5 5
Income Statement 870,520 862,392
SHAREHOLDERS' FUNDS 870,625 862,497
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Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit 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 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 Income Statement.
On behalf of the board
Mr J C Hewitt
Director
20 June 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Teleos Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03466356 . The registered office is Unit 4b Fenice Court Phoenix Business Park, Eaton Socon, St Neots, Cambs, PE19 8EP.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. 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:
Leasehold in accordance with the property
Motor Vehicles 23% on reducing balance
Fixtures & Fittings 15% on cost
Computer Equipment 33.3% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. 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 are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 23)
23 23
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2023 13,015 10,915 45,925 24,762 94,617
Additions - - - 2,939 2,939
As at 30 November 2024 13,015 10,915 45,925 27,701 97,556
Depreciation
As at 1 December 2023 13,012 9,459 45,344 21,666 89,481
Provided during the period - 364 312 1,304 1,980
As at 30 November 2024 13,012 9,823 45,656 22,970 91,461
Net Book Value
As at 30 November 2024 3 1,092 269 4,731 6,095
As at 1 December 2023 3 1,456 581 3,096 5,136
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5. Investments
Subsidiaries
£
Cost
As at 1 December 2023 101
As at 30 November 2024 101
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 101
As at 1 December 2023 101
6. Stocks
2024 2023
£ £
Stock 23,453 24,038
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 213,679 236,882
Amounts owed by group undertakings 308,333 87,640
Amounts owed by participating interests 31,679 31,713
Other debtors 81,863 87,640
635,554 443,875
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,350 6,567
Other creditors 73,958 93,337
Taxation and social security 71,783 71,130
157,091 171,034
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 56,080 47,524
Later than one year and not later than five years 112,160 146,532
168,240 194,056
11. Related Party Transactions
At the year end, the company was owed £31,677 (2023 - £31,713) by Crescendo Music Services Limited, a company in which Teleos Systems Limited owns 50% of the share capital.
During the year the company paid expenses on behalf of Happy Pets Veterinary Practice Limited, a company in which Teleos Systems Limited owns 100% of the share capital. This has been treated as a loan and is included in other debtors.  The amount outstanding at 30 November 2024 is £308,333 (2023 - £87,640).
These transactions have been carried out at an arms length basis and are all repayable upon demand.
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