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Company No: 14293843 (England and Wales)

# T.S.L. 23 LTD

### Unaudited Financial Statements
For the financial year ended 31 August 2025
Pages for filing with the registrar

T.S.L. 23 LTD

## Unaudited Financial Statements

For the financial year ended 31 August 2025

Contents

T.S.L. 23 LTD

## COMPANY INFORMATION

For the financial year ended 31 August 2025
T.S.L. 23 LTD

## COMPANY INFORMATION (continued)

For the financial year ended 31 August 2025

DIRECTORS | Caroline Bell
| Simon John Bell

SECRETARY | Caroline Bell

REGISTERED OFFICE | Unit 7 Yorvale Business Park
| Hazel Court
| York
| YO10 3DR
| United Kingdom

COMPANY NUMBER | 14293843 (England and Wales)

ACCOUNTANT | Ian Walker and Co
| Wellington House
| Aviator Court
| Clifton moor
| York
| YO30 4UZ

T.S.L. 23 LTD

## BALANCE SHEET

As at 31 August 2025
T.S.L. 23 LTD

## BALANCE SHEET (continued)

As at 31 August 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,571,265 |  | 1,552,040
Investments | 4 | 4,803,814 |  | 3,716,142
|  | 6,375,079 |  | 5,268,182
Current assets |  |  |  |
Debtors | 5 | 4,387 |  | 12,074
Cash at bank and in hand | 6 | 227,563 |  | 201,054
|  | 231,950 |  | 213,128
Creditors: amounts falling due within one year | 7 | ( 59,305) |  | ( 425,513)
Net current assets/(liabilities) |  | 172,645 |  | (212,385)
Total assets less current liabilities |  | 6,547,724 |  | 5,055,797
Net assets |  | 6,547,724 |  | 5,055,797
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Revaluation reserve |  | 1,317,577 |  | 740,753
Profit and loss account |  | 5,230,047 |  | 4,314,944
Total shareholders' funds |  | 6,547,724 |  | 5,055,797

For the financial year ending 31 August 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 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 T.S.L. 23 Ltd (registered number: 14293843) were approved and authorised for issue by the Board of Directors on 07 May 2026. They were signed on its behalf by:

Simon John Bell Director |

T.S.L. 23 LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2025
T.S.L. 23 LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2025

##### 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

T.S.L. 23 Ltd (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 Unit 7 Yorvale Business Park, Hazel Court, York, YO10 3DR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### 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 supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) 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 straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated

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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.
Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### 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.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Land and buildings |  | Total
| £ |  | £
Cost |  |  |
At 01 September 2024 | 1,552,040 |  | 1,552,040
Additions | 19,225 |  | 19,225
At 31 August 2025 | 1,571,265 |  | 1,571,265
Accumulated depreciation |  |  |
At 01 September 2024 | 0 |  | 0
At 31 August 2025 | 0 |  | 0
Net book value |  |  |
At 31 August 2025 | 1,571,265 |  | 1,571,265
At 31 August 2024 | 1,552,040 |  | 1,552,040

#### 4. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 September 2024 | 108
At 31 August 2025 | 108
Carrying value at 31 August 2025 | 108
Carrying value at 31 August 2024 | 108

The company owns 90% of the shares in T.S.L. Electrical and Data Services Ltd.

| Listed investments |  | Other investments |  | Total
| £ |  | £ |  | £
Cost or valuation before impairment |  |  |  |  |
At 01 September 2024 | 3,198,691 |  | 517,343 |  | 3,716,034
Additions | 814,498 |  | 534,970 |  | 1,349,468
Disposals | ( 838,622) |  | 0 |  | ( 838,622)
Movement in fair value | 389,321 |  | 187,505 |  | 576,826
At 31 August 2025 | 3,563,888 |  | 1,239,818 |  | 4,803,706
Carrying value at 31 August 2025 | 3,563,888 |  | 1,239,818 |  | 4,803,706
Carrying value at 31 August 2024 | 3,198,691 |  | 517,343 |  | 3,716,034

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the shares on acquisition was £3,043,960 . Other investments are held at cost less impairment because their fair value cannot be measured reliably.

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 4,387 |  | 12,074

#### 6. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 227,563 |  | 201,054

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 0 |  | 462,985
Taxation and social security | 55,305 |  | ( 47,972)
Other creditors | 4,000 |  | 10,500
| 59,305 |  | 425,513

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100