REGISTERED NUMBER: 02776516 (England and Wales)

Financial Statements

for the Year Ended 31st December 2024

for

T S S GROUP LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

V Khanna

A E Khanna

K Khanna

N N Khanna

SECRETARY:

K Jeyavarathan

REGISTERED OFFICE:

North Farm Industrial Estate

Longfield Road

Tunbridge Wells

Kent

TN2 3EY

REGISTERED NUMBER:

02776516 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alasdair Weaks

AUDITORS:

TC Group

Statutory Auditor

Office: Croydon - TC SWP

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

CURRENT ASSETS

Inventories

4

476,667

716,393

Debtors

5

13,025

268,130

Cash at bank

119,137

25,927

608,829

1,010,450

CREDITORS

Amounts falling due within one year

6

3,138

18,505

NET CURRENT ASSETS

605,691

991,945

TOTAL ASSETS LESS CURRENT LIABILITIES

605,691

991,945

CAPITAL AND RESERVES

Called up share capital

500

500

Retained earnings

605,191

991,445

SHAREHOLDERS' FUNDS

605,691

991,945

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2025 and were signed on its behalf by:

K Khanna - Director

1.	STATUTORY INFORMATION

The principal activity of the company continued to be that of property development.

T S S Group Limited is a private company, limited by shares, registered in England and Wales. The address of its registered office is North Farm Industrial Estate, Longfield Road, Tunbridge Wells, Kent, TN2 3EY.

The financial statements have been prepared in pounds sterling, the functional currency of the company, and monetary amounts in these financial statements have been rounded to the nearest £.

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

Turnover

Turnover is recognised to the extent that it is probably the economic benefits will flow to the company and the turnover can be reliably measured. 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 property stock and is recognised when all of the following conditions are satisfied:

-

the company has transferred the significant risks and rewards of ownership to the buyer;

-

the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

the amount of revenue can be measured reliably;

-

it is probable that the company will receive the consideration due under the transaction;

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Stock of development properties

Stocks are stated at the lower of cost and net relisable value, being the estimated selling price less costs to complete and sell. Cost is based on the costs of developing a site, these costs are then allocated to individual plots to achieve a consistent margin for the site. Work in progress and development property include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Dividends

Equity dividends are recognised when they become fully payable. Interim dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Provisions for liabilities

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 7 ).

4.	INVENTORIES

31.12.24

31.12.23

£

£

Property stock

476,667

716,393

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

2,325

Amounts owed by group undertakings

-

207,002

Other debtors

-

34,931

Tax

-

13,384

VAT

25

1,736

Prepayments and accrued income

13,000

8,752

13,025

268,130

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

-

9,388

Social security and other taxes

-

2,332

Other creditors

-

209

Directors' current accounts

-

1,676

Accruals and deferred income

3,138

4,900

3,138

18,505

7.	AUDITORS' INFORMATION

The audit report provided to the members of T S S Group Limited on the financial statements for the year ended 31st December 2024 was not qualified.

The audit report was signed by Alasdair Weaks (Senior Statutory Auditor) for and on behalf of TC Group, Statutory Auditor.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

In the prior year the company sold a property to a director and shareholder for £431,034, a value that is in excess of the property's market value. The property had been valued by a qualified independent third party before the sale took place.

9.	RELATED PARTY DISCLOSURES

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.

At the end of the prior year an amount of £3,547 was owed from Thames Motor Group (Slough) Limited, a fellow subsidiary company. This balance was received during the year.

In the prior year £22,000 was owed from Thames Contemporary Homes (Clapham) Ltd, a company under common control. This amount was received in the year.

The profits arising from an ongoing property development project are subject to a profit sharing arrangement with Thames Contemporary Homes Ltd, a company under common control. During the year it was agreed to make an interim payment of £500,000 to Thames Contemporary Homes Ltd.

10.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Thames Motor Group Limited, registered in England and Wales.

The ultimate controlling party is Mr V Khanna, a director.

Thames Motor Group Limited prepares consolidated financial statements and copies can be obtained from its registered office, North Farm Industrial Estate, Longfield Road, Tunbridge Wells, Kent, TN2 3EY.