REGISTERED NUMBER: 13199719 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE TESTING CONSULTANCY EUROPE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Tombleson

D Borrie

D J Webber

T J D Rankin-Mills

M C Ewart

SECRETARY:

J Tombleson

REGISTERED OFFICE:

10 John Street

London

WC1N 2EB

REGISTERED NUMBER:

13199719 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

1,930

3,001

CURRENT ASSETS

Debtors

5

264,565

104,070

Cash at bank

62,427

71,163

326,992

175,233

CREDITORS

Amounts falling due within one year

6

1,085,509

822,302

NET CURRENT LIABILITIES

(758,517

)

(647,069

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(756,587

)

(644,068

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(756,687

)

(644,168

)

SHAREHOLDERS' FUNDS

(756,587

)

(644,068

)

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 2 September 2025 and were signed on its behalf by:

J Tombleson - Director

1.	STATUTORY INFORMATION

The Testing Consultancy Europe Limited 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.

Going concern

The company has obtained a letter of support from its parent company, Mosaic Group Ltd. The directors of Mosaic Group Ltd have provided a commitment to provide any financial support which may be necessary in order that the company can meet its liabilities, as they fall due, for the foreseeable future being for a period of at least 12 months and 1 day following the signing of the audit report. As a result of this commitment, the directors have adopted the going concern basis in preparing these financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the total invoice value, excluding value-added tax, of sales made during the year. Revenue is recognised based on the completion status of the service as this is when the risks and rewards are transferred to the customer.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life:

- Plant and machinery etc - 50% on reducing balance

Financial instruments

Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

7,371

Additions

127

At 31 March 2025

7,498

DEPRECIATION

At 1 April 2024

4,370

Charge for year

1,198

At 31 March 2025

5,568

NET BOOK VALUE

At 31 March 2025

1,930

At 31 March 2024

3,001

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

253,855

56,577

Other debtors

10,710

47,493

264,565

104,070

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

30,551

53,545

Amounts owed to group undertakings

987,351

673,438

Taxation and social security

27,142

11,760

Other creditors & accruals

40,465

83,559

1,085,509

822,302

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

36,000

43,200

Between one and five years

-

36,000

36,000

79,200

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Crowley (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

10.	RELATED PARTY DISCLOSURES

The Testing Consultancy Europe Limited is related to The Testing Consultancy Ltd (incorporated in NZ), The Mosaic Group Ltd (incorporated in NZ), The Testing Consultancy US Corporation (incorporated in the US) and The Testing Consultancy Pte Ltd (incorporated in Singapore) as they are within the same group. During the year, the Company made transactions to these related parties, and had balances outstanding with them as at the year end.

The Testing Consultancy Ltd (incorporated in NZ)

The Company owed The Testing Consultancy Ltd £850,997 (2024: £594,329) at the year end. The Testing Consultancy Ltd made sales and recharges to the Company of £102,141 (2024: £99,998) during the year. The Company made sales to the Testing Consultancy Ltd of £36,365 (2024: £23,212). The Company received a trade and enterprise grant to the value of £NIL (2024: £182,921) through the Testing Consultancy Ltd.

The Mosaic Group (incorporated in NZ)

The Company owed Mosaic Group Ltd £NIL (2024: £2,084). Mosaic Group Ltd paid expenses on behalf of The Testing Consultancy Europe Limited amounting to £NIL (2024: £2,084).

The Testing Consultancy US Corporation (incorporated in the US)

The Company owed The Testing Consultancy US Corporation £117,431 (2024: £77,025) at the year end. The Testing Consultancy US Corporation made sales and recharges to the Company of £40,406 (2024: £10,344) during the year.

The Testing Consultancy Pte Ltd (incorporated in Singapore)

The Company owed The Testing Consultancy Pte Ltd £18,923 (2024: £NIL) at the year end. The Testing Consultancy Pte Ltd made sales and recharges to the Company of £18,923 (2024: £NIL) during the year.

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is Mosaic Group Ltd, a company incorporated in New Zealand and registered at 656 Great South Road, Ellerslie, Auckland, 1051. Mosaic Group Ltd holds a 75% ownership interest in The Testing Consultancy Europe Ltd. The consolidated accounts are not publicly available.