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REGISTERED NUMBER: 13025764 (England and Wales)

| TFSLET LIMITED |

| T/A |

| GROUND BAKERY |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| TFSLET LIMITED (REGISTERED NUMBER: 13025764) |

| T/A GROUND BAKERY |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| TFSLET LIMITED |

| T/A GROUND BAKERY |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | Mrs E S Davies

| Mr T F Simmons

| Mrs L E Thomas

| REGISTERED OFFICE: | Ground Bakery - 15 Pontcanna Street

| Cardiff

| CF11 9HQ

| REGISTERED NUMBER: | 13025764 (England and Wales)

| ACCOUNTANTS: | Carston ETL

| Tudor House

| 16 Cathedral Road

| Cardiff

| CF11 9LJ

| TFSLET LIMITED (REGISTERED NUMBER: 13025764) |

| T/A GROUND BAKERY |

BALANCE SHEET

31 DECEMBER 2024

2024 | 2023 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 4 | 620,765 |  | 491,151 |  |

CURRENT ASSETS

Stocks | 24,168 |  | 20,685 |  |

Debtors | 5 | 60,397 |  | 48,367 |  |

Cash at bank and in hand | 15,708 |  | 17,540 |  |

100,273 |  | 86,592 |  |

CREDITORS

Amounts falling due within one year | 6 | 365,620 |  | 303,211 |  |

NET CURRENT LIABILITIES | (265,347 | ) | (216,619 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 355,418 |  | 274,532 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 623,242 |  | 522,007 |  |

NET LIABILITIES | (267,824 | ) | (247,475 | ) |

CAPITAL AND RESERVES

Called up share capital | 1,200 |  | 1,200 |  |

Share premium | 119,400 |  | 119,400 |  |

Retained earnings | (388,424 | ) | (368,075 | ) |

SHAREHOLDERS' FUNDS | (267,824 | ) | (247,475 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

Mr T F Simmons - Director

| TFSLET LIMITED (REGISTERED NUMBER: 13025764) |

| T/A GROUND BAKERY |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Tfslet 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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Freehold property | - | Straight line over 10 years

| Plant and machinery | - | Straight line over 10 years

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 58 (2023 - 41 ) .

4. | TANGIBLE FIXED ASSETS

Freehold | Plant and | Motor |

property | machinery | vehicles | Totals |

| £ | £ | £ | £

| COST

| At 1 January 2024 | 117,447 |  | 492,286 |  | - |  | 609,733 |  |

| Additions | - |  | 169,786 |  | 30,516 |  | 200,302 |  |

| At 31 December 2024 | 117,447 |  | 662,072 |  | 30,516 |  | 810,035 |  |

| DEPRECIATION

| At 1 January 2024 | 22,256 |  | 96,326 |  | - |  | 118,582 |  |

| Charge for year | 11,745 |  | 58,943 |  | - |  | 70,688 |  |

| At 31 December 2024 | 34,001 |  | 155,269 |  | - |  | 189,270 |  |

| NET BOOK VALUE

| At 31 December 2024 | 83,446 |  | 506,803 |  | 30,516 |  | 620,765 |  |

| At 31 December 2023 | 95,191 |  | 395,960 |  | - |  | 491,151 |  |

| TFSLET LIMITED (REGISTERED NUMBER: 13025764) |

| T/A GROUND BAKERY |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

| £ | £

| Trade debtors | 26,294 |  | 7,742 |  |

| Other debtors | 34,103 |  | 40,625 |  |

60,397 |  | 48,367 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

| £ | £

| Bank loans and overdrafts | 33,599 |  | 22,430 |  |

| Hire purchase contracts | 33,948 |  | 39,177 |  |

| Trade creditors | 146,656 |  | 137,918 |  |

| Taxation and social security | 62,076 |  | 65,156 |  |

| Other creditors | 89,341 |  | 38,530 |  |

365,620 |  | 303,211 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

| £ | £

| Bank loans | 232,889 |  | 170,389 |  |

| Hire purchase contracts | 38,675 |  | 39,080 |  |

| Other creditors | 351,678 |  | 312,538 |  |

623,242 |  | 522,007 |  |

| DBW Investments Limited has a fixed and floating charge which covers all property and undertaking of the company, and contains a negative pledge.

| Included within other creditors are assets held under hire purchase contracts which are secured over the assets to which they relate.

8. | RELATED PARTY DISCLOSURES

| At the end of the year the company owed £121,006 (2023: £107,483) to two companies in which the directors have a significant interest.