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REGISTERED NUMBER: 11424385 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Telescope Group Ltd

Telescope Group Ltd (Registered number: 11424385)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Telescope Group Ltd

Company Information

for the Year Ended 31 March 2025

| DIRECTOR: | C J Garnett

| REGISTERED OFFICE: | Compass House

| 76 East Street

| Leeds

| West Yorkshire

| LS9 8EE

| REGISTERED NUMBER: | 11424385 (England and Wales)

| ACCOUNTANTS: | Richard Smedley Limited

| Chartered Accountants & Registered Auditors

| Richmond House

| Lawnswood Business Park

| Redvers Close

| Leeds

| West Yorkshire

| LS16 6QY

Telescope Group Ltd (Registered number: 11424385)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 95,067 |  | 146,673 |  |

Investments | 5 | 1,240,720 |  | 1,240,700 |  |

1,335,787 |  | 1,387,373 |  |

CURRENT ASSETS

Stocks | 32,450 |  | - |  |

Debtors | 6 | 484,286 |  | 429,915 |  |

Cash at bank | 6,911 |  | 12,630 |  |

523,647 |  | 442,545 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,598,892 |  | 1,642,123 |  |

NET CURRENT LIABILITIES | (1,075,245 | ) | (1,199,578 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 260,542 |  | 187,795 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 202,028 |  | 134,926 |  |

NET ASSETS | 58,514 |  | 52,869 |  |

CAPITAL AND RESERVES

Called up share capital | 20 |  | 20 |  |

Retained earnings | 58,494 |  | 52,849 |  |

58,514 |  | 52,869 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Telescope Group Ltd (Registered number: 11424385)

Balance Sheet - continued

31 March 2025

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 director and authorised for issue on 31 July 2025 and were signed by:

C J Garnett - Director

Telescope Group Ltd (Registered number: 11424385)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Telescope Group Ltd 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.

| The accounts are prepared on a going concern basis due to continuing support of the director and shareholder.

| 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 is represented by management charges net of VAT. This is recognised when the company has provided the management services and therefore receives the right to consideration.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Fixtures and fittings | - | 20% on cost

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | Straight line over 3 years

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost less impairment.

| Stocks

| Work in progress is valued at the lower of cost and net realisable value.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| Financial instruments

| Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

| 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.

Telescope Group Ltd (Registered number: 11424385)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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 1 (2024 - 1 ) .

Telescope Group Ltd (Registered number: 11424385)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 3,657 |  | 202,006 |  | 678 |  | 206,341 |  |

| Additions | - |  | 29,503 |  | - |  | 29,503 |  |

| Disposals | - |  | (74,936 | ) | - |  | (74,936 | ) |

| At 31 March 2025 | 3,657 |  | 156,573 |  | 678 |  | 160,908 |  |

| DEPRECIATION

| At 1 April 2024 | 1,463 |  | 57,527 |  | 678 |  | 59,668 |  |

| Charge for year | 731 |  | 31,201 |  | - |  | 31,932 |  |

| Eliminated on disposal | - |  | (25,759 | ) | - |  | (25,759 | ) |

| At 31 March 2025 | 2,194 |  | 62,969 |  | 678 |  | 65,841 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,463 |  | 93,604 |  | - |  | 95,067 |  |

| At 31 March 2024 | 2,194 |  | 144,479 |  | - |  | 146,673 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST

| At 1 April 2024 | 201,069 |  |

| Additions | 29,503 |  |

| Disposals | (73,999 | ) |

| At 31 March 2025 | 156,573 |  |

| DEPRECIATION

| At 1 April 2024 | 57,205 |  |

| Charge for year | 31,201 |  |

| Eliminated on disposal | (25,437 | ) |

| At 31 March 2025 | 62,969 |  |

| NET BOOK VALUE

| At 31 March 2025 | 93,604 |  |

| At 31 March 2024 | 143,864 |  |

Telescope Group Ltd (Registered number: 11424385)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 April 2024 | 1,240,700 |  |

| Additions | 20 |  |

| At 31 March 2025 | 1,240,720 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,240,720 |  |

| At 31 March 2024 | 1,240,700 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Absolute Direct Marketing Limited

| Registered office: Compass House, 76 East Street, Leeds, West Yorkshire, LS9 8EE

| Nature of business: Marketing

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.3.25 |  | 31.3.24

£ | £ |

| Aggregate capital and reserves | 466,976 |  | 356,864 |  |

| Profit for the year | 135,112 |  | 148,817 |  |

| Telescope Studios Limited

| Registered office: Compass House, 76 East Street, Leeds, West Yorkshire, LS9 8EE

| Nature of business: Marketing

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.3.25 |  | 31.3.24

£ | £ |

| Aggregate capital and reserves | (258,990 | ) | (87,121 | ) |

| Loss for the year | (171,869 | ) | (184,692 | ) |

| Telescope Motorsport Limited

| Registered office: Fair View, Old Byland, York, North Yorkshire, England, YO62 5LG

| Nature of business: car racing and advertising

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.3.25 |  | 31.3.24

£ | £ |

| Aggregate capital and reserves | (122,725 | ) | (98,301 | ) |

| Loss for the year | (24,424 | ) | (85,802 | ) |

Telescope Group Ltd (Registered number: 11424385)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | FIXED ASSET INVESTMENTS - continued

| Telescope Doordrop Media Limited

| Registered office: Compass House, 76 East Street, Leeds, West Yorkshire, LS9 8EE

| Nature of business: administration & delivery services

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.3.25 |  | 31.3.24

£ | £ |

| Aggregate capital and reserves | - |  | 31 |  |

| (Loss)/profit for the year | (31 | ) | 98 |  |

| Clearsilver Brand Marketing Limited

| Registered office: Compass House, 76 East Street, Leeds, West Yorkshire, LS9 8EE

| Nature of business: advertising

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.3.25 |  | 31.3.24

£ | £ |

| Aggregate capital and reserves | (69,306 | ) | 39,834 |  |

| (Loss)/profit for the year/period | (109,140 | ) | 46,532 |  |

6. | DEBTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts falling due within one year:

| Other debtors | 448,964 |  | 429,915 |  |

| Amounts falling due after more than one year:

| Other debtors | 35,322 |  | - |  |

| Aggregate amounts | 484,286 |  | 429,915 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts | 19,691 |  | - |  |

| Hire purchase contracts (see note 9) | 24,368 |  | 28,783 |  |

| Trade creditors | 17,356 |  | 18,062 |  |

| Taxation and social security | 42,939 |  | 1,031 |  |

| Other creditors | 1,494,538 |  | 1,594,247 |  |

1,598,892 |  | 1,642,123 |  |

Telescope Group Ltd (Registered number: 11424385)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans | 97,877 |  | - |  |

| Hire purchase contracts (see note 9) | 104,151 |  | 134,926 |  |

202,028 |  | 134,926 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 31.3.25 |  | 31.3.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 24,368 |  | 28,783 |  |

| Between one and five years | 104,151 |  | 134,926 |  |

128,519 |  | 163,709 |  |

| Non-cancellable |

| operating leases |

| 31.3.25 |  | 31.3.24

£ | £ |

| Within one year | 42,269 |  | 49,511 |  |

| Between one and five years | - |  | 42,269 |  |

42,269 |  | 91,780 |  |

10. | SECURED DEBTS

| HSBC holds a fixed and floating charge over the assets of the company and it contains a negative pledge.

| I Leach and LE Leach have a fixed and floating charge over the freehold, leasehold or commonhold property. This was satisfied on the 1st July 2025.

Telescope Group Ltd (Registered number: 11424385)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31.3.25 |  | 31.3.24

£ | £ |

| C J Garnett

| Balance outstanding at start of year | 84,436 |  | 63,475 |  |

| Amounts advanced | 123,583 |  | 113,961 |  |

| Amounts repaid | (103,361 | ) | (93,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 104,658 |  | 84,436 |  |

| Interest has been charged at the official rate.

| This is repayable on demand.