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TELESCOPE TECHNOLOGY LIMITED

Registered Number
12774445
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

TELESCOPE TECHNOLOGY LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

CHAUDHARY, Humzah Shuaib
LASLETT, Oliver William, Dr

Registered Address

7 Bell Yard
London
WC2A 2JR

Registered Number

12774445 (England and Wales)
TELESCOPE TECHNOLOGY LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets316,7647,417
16,7647,417
Current assets
Debtors4260,087438,735
Cash at bank and on hand43,95123,775
304,038462,510
Creditors amounts falling due within one year5(129,961)(5,593)
Net current assets (liabilities)174,077456,917
Total assets less current liabilities190,841464,334
Creditors amounts falling due after one year6(1,639,827)(863,336)
Net assets(1,448,986)(399,002)
Capital and reserves
Share premium1,338,1651,338,165
Profit and loss account(2,787,151)(1,737,167)
Shareholders' funds(1,448,986)(399,002)
The financial statements were approved and authorised for issue by the Board of Directors on 28 July 2025, and are signed on its behalf by:
CHAUDHARY, Humzah Shuaib
Director
Registered Company No. 12774445
TELESCOPE TECHNOLOGY LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on the going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the period end. The director considers the basis to be appropriate as the parent company, Telescope Technology Inc, has sufficient reserves to support the company to trade for a minimum of 12 months from the date of approval of the financial statements.
Turnover policy
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.
Defined contribution pension plan
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2423,25123,251
Additions17,02317,023
Disposals(1,566)(1,566)
At 31 December 2438,70838,708
Depreciation and impairment
At 01 January 2415,83415,834
Charge for year7,6767,676
On disposals(1,566)(1,566)
At 31 December 2421,94421,944
Net book value
At 31 December 2416,76416,764
At 31 December 237,4177,417
4.Debtors: amounts due within one year

2024

2023

££
Other debtors223,614427,223
Prepayments and accrued income36,47311,512
Total260,087438,735
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables15,7481,832
Taxation and social security24,442553
Other creditors1,316884
Accrued liabilities and deferred income88,4552,324
Total129,9615,593
6.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties1,639,827863,336
Total1,639,827863,336
7.Related party transactions
At the balance sheet date, the company owed £1,639,827 to the parent company, Telescope Technology Inc, based in the US.The loan is unsecured, interest-free, and repayable on demand.