Company No: 04300144 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	4,620		5,226
Investments	4	0		80,000
		4,620		85,226
Current assets
Stocks	5	22,896		80,280
Debtors	6	609,579		614,715
Cash at bank and in hand		285,269		208,304
		917,744		903,299
Creditors: amounts falling due within one year	7	( 553,706)		( 606,282)
Net current assets		364,038		297,017
Total assets less current liabilities		368,658		382,243
Net assets		368,658		382,243
Capital and reserves
Called-up share capital	8	8,400		8,400
Profit and loss account		360,258		373,843
Total shareholder's funds		368,658		382,243

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Telecom 2000 Limited (registered number: 04300144) were approved and authorised for issue by the Board of Directors on 30 April 2026. They were signed on its behalf by:

L P Clarke Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Telecom 2000 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 st. Stephens Court, St. Stephens Road, Bournemouth, Dorset, BH2 6LA, United Kingdom. The principal place of business is Minster Industrial Estate, Minster Park, Collingwood Rd, West Moors, Wimborne BH21 6QF.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

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 that 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		10

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 January 2025	99,241		99,241
Additions	865		865
At 31 December 2025	100,106		100,106
Accumulated depreciation
At 01 January 2025	94,015		94,015
Charge for the financial year	1,471		1,471
At 31 December 2025	95,486		95,486
Net book value
At 31 December 2025	4,620		4,620
At 31 December 2024	5,226		5,226

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	80,000
Disposals	( 80,000)
At 31 December 2025	0
Carrying value at 31 December 2025	0
Carrying value at 31 December 2024	80,000

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2025	Ownership 31.12.2024
Smart Connect Limited	Towngate House Towngate House, 2-8 Parkstone Road, Poole, Dorset, England, BH15 2PW	communication products and service	Ordinary	0.00%	100.00%

5. Stocks

	2025		2024
	£		£
Stocks	8,975		8,975
Work in progress	13,921		71,305
	22,896		80,280

6. Debtors

	2025		2024
	£		£
Trade debtors	441,030		469,588
Amounts owed by Group undertakings	0		5,200
Amounts owed by Parent undertakings	48,749		48,749
Other debtors	119,800		91,178
	609,579		614,715

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	121,548		137,953
Taxation and social security	248,648		218,437
Other creditors	183,510		249,892
	553,706		606,282

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
8,400 Ordinary shares of £ 1.00 each	8,400		8,400

9. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	85,332		91,232

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Key Management	500		0

No interest has been charged on the overdrawn directors loan account.

11. Ultimate controlling party

Parent Company:

T2K Holdings Ltd