Telsonic (UK) Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

Telsonic (UK) Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	877,782	890,518
Current assets
Stocks	5	895,432	675,144
Debtors	6	1,058,702	950,567
Cash at bank and in hand		341,799	553,174
		2,295,933	2,178,885
Creditors: Amounts falling due within one year	7	(1,493,687)	(1,316,234)
Net current assets		802,246	862,651
Total assets less current liabilities		1,680,028	1,753,169
Provisions for liabilities	8	(157,671)	(153,167)
Net assets		1,522,357	1,600,002
Capital and reserves
Called up share capital		348,526	348,526
Profit and loss account		1,173,831	1,251,476
Shareholders' funds		1,522,357	1,600,002

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... D L Norton Director

......................................... A Vietze Director

Telsonic (UK) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 3, Vitrage Technical Park
27 Witney Road
Nuffield Industrial Estate
Poole
Dorset
BH17 0GL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 Section 1A and the Companies Act 2006.

There are no material departures from FRS 102.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Going concern

The directors have reviewed the level of core overheads to determine if there is sufficient working capital to meet these requirements, for a period of at least twelve months from the date of approval of these financial statements. Following this review, based on the information available to date the directors are satisfied that the company has sufficient cash balances to meet these requirements and, accordingly, the directors continue to adopt the going concern basis of presentation.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, and discounts.

For the sale of goods, turnover is recognised at the point the risks and rewards of ownership pass onto the customer. Deposits are treated as payments on account and held within creditors until the sale can be recognised in full at the point of final invoice.

Telsonic (UK) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% straight line basis
Fixtures and fittings	15% straight line basis
Motor vehicles	33.33% straight line basis
Office equipment	33.33% straight line basis
Freehold land and buildings	2% straight line basis

Stocks

Stocks and Work in Progress is stated at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Costs include all direct costs and an appropriate proportion of fixed and variable overheads.

Telsonic (UK) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2023 - 23).

Telsonic (UK) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	864,595	199,133	186,386	49,896	1,300,010
Additions	-	3,610	104,654	529	108,793
Disposals	-	-	(112,636)	-	(112,636)
At 31 December 2024	864,595	202,743	178,404	50,425	1,296,167
Depreciation
At 1 January 2024	71,444	180,549	129,727	27,772	409,492
Charge for the year	27,089	9,951	51,167	5,456	93,663
Eliminated on disposal	-	-	(84,770)	-	(84,770)
At 31 December 2024	98,533	190,500	96,124	33,228	418,385
Carrying amount
At 31 December 2024	766,062	12,243	82,280	17,197	877,782
At 31 December 2023	793,151	18,584	56,659	22,124	890,518

5

Stocks

	2024  £	2023  £
Stocks and work in progress	895,432	675,144

6

Debtors

	2024 £	2023 £
Trade debtors	856,673	779,507
Prepayments	56,107	49,356
Other debtors	145,922	121,704
	1,058,702	950,567

Telsonic (UK) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		248,476	141,897
Amounts owed to group	10	271,626	400,060
Taxation and social security		194,486	151,055
Accruals and deferred income		49,879	123,029
Other creditors		729,220	500,193
		1,493,687	1,316,234

8	Deferred tax and other provisions

	Warranties £	Total £
At 1 January 2024	153,167	153,167
Increase (decrease) in existing provisions	4,504	4,504
At 31 December 2024	157,671	157,671

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £Nil).

The bank holds a guarantee dated 16 July 2024 in favour of HM Revenue & Customs for £100,000 (2023: £75,000).

Telsonic (UK) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

10	Related party transactions

Expenditure with and payables to related parties

2024	Parent £	Entities with joint control £
Purchase of goods	1,032,048	262,580
Transfers under licence agreements	112,603	-
	1,144,651	262,580
Amounts payable to related party	281,845	18,480