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COMPANY REGISTRATION NUMBER: 05683203

TSU (Europe) Ltd

Filleted Unaudited Financial Statements

31 January 2025

TSU (Europe) Ltd

Statement of Financial Position

31 January 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 6 |  | 26,290 | 35,339

Current assets

Stocks | 65,340 |  | 54,143
Debtors | 7 | 34,974 |  | 128,089
Cash at bank and in hand | 1,064,627 |  | 1,008,692
| ------------ |  | ------------
| 1,164,941 |  | 1,190,924

Creditors: amounts falling due within one year | 8 | 183,425 |  | 212,513
| ------------ |  | ------------
Net current assets |  | 981,516 | 978,411
|  | ------------ | ------------
Total assets less current liabilities |  | 1,007,806 | 1,013,750

Creditors: amounts falling due after more than one year | 9 |  | 300,000 | 300,000

Provisions

Taxation including deferred tax |  | 6,341 | 15,362
|  | ------------ | ------------
Net assets |  | 701,465 | 698,388
|  | ------------ | ------------

TSU (Europe) Ltd

Statement of Financial Position (continued)

31 January 2025

| 2025 | 2024
Note | £ | £ | £

Capital and reserves

Called up share capital |  | 100 | 100
Profit and loss account |  | 701,365 | 698,288
|  | --------- | ---------
Shareholders funds |  | 701,465 | 698,388
|  | --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 January 2026 , and are signed on behalf of the board by:

Mr. M.P. Shah
Director

Company registration number: 05683203

TSU (Europe) Ltd

Notes to the Financial Statements

Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 410-412 Green Lanes, Palmers Green, London, N13 5XG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 20% straight line
| Motor vehicles | - | 15% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2024: 12 ).
5. Intangible assets

| Goodwill
| £
Cost |
At 1 February 2024 and 31 January 2025 | 894,185
| ---------
Amortisation |
At 1 February 2024 and 31 January 2025 | 894,185
| ---------
Carrying amount |
At 31 January 2025 | –
| ---------
At 31 January 2024 | –
| ---------

6. Tangible assets

| Fixtures and fittings | Motor vehicles | Total
| £ | £ | £
Cost |  |  |
At 1 February 2024 and 31 January 2025 | 100,202 | 50,000 | 150,202
| --------- | -------- | ---------
Depreciation |  |  |
At 1 February 2024 | 92,363 | 22,500 | 114,863
Charge for the year | 1,549 | 7,500 | 9,049
| --------- | -------- | ---------
At 31 January 2025 | 93,912 | 30,000 | 123,912
| --------- | -------- | ---------
Carrying amount |  |  |
At 31 January 2025 | 6,290 | 20,000 | 26,290
| --------- | -------- | ---------
At 31 January 2024 | 7,839 | 27,500 | 35,339
| --------- | -------- | ---------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 652 | 97,015
Other debtors | 34,322 | 31,074
| -------- | ---------
| 34,974 | 128,089
| -------- | ---------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 154,250 | 167,285
Corporation tax | 787 | 15,886
Social security and other taxes | 8,357 | 3,835
Other creditors | 20,031 | 25,507
| --------- | ---------
| 183,425 | 212,513
| --------- | ---------

9. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Shareholders loan accounts | 300,000 | 300,000
| --------- | ---------

10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 45,100 | 45,100
Later than 1 year and not later than 5 years | 45,100 | 90,200
| -------- | ---------
| 90,200 | 135,300
| -------- | ---------