Company registration number 04062170 (England and Wales)
T.S.L. FINANCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
T.S.L. FINANCE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
T.S.L. FINANCE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
3
35,069,208
35,069,748
Creditors: amounts falling due within one year
4
(34,942,269)
(34,942,469)
Net current assets
126,939
127,279
Capital and reserves
Called up share capital
5
3
3
Profit and loss reserves
126,936
127,276
Total equity
126,939
127,279

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 26 May 2026
F L Gray
Director
Company registration number 04062170 (England and Wales)
T.S.L. FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

T.S.L. Finance Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 8, West London Industrial Park, Iver Lane, Uxbridge, UB8 2JG.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

T he company has taken advantage of the exemption available in FRS102 (S33 'Related Party Disclosure'), whereby it has not disclosed transactions with its parent undertaking, which wholly owns the company.

1.2
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.3
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.4
Taxation

The tax expense represents the sum of the tax currently payable.

T.S.L. FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
34,889,978
34,890,518
Other debtors
179,230
179,230
35,069,208
35,069,748
4
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
8,410,085
8,410,085
Corporation tax
-
0
200
Other creditors
26,532,184
26,532,184
34,942,269
34,942,469
5
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
3
3
3
3
T.S.L. FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
6
Related party transactions

Included in creditors at the balance sheet date are amounts totalling £10,197,890 (20 24: £10,197,890) owed to Trade Sale (Slough) Limited, a company in which F L Gray is a director.

Included in creditors at the balance sheet date are net amounts totalling £131,228 (2024: £131,228) owed to Datamede Limited, a company controlled by F L Gray.

Included in creditors at the balance sheet date are amounts totalling £22,751 (20 24: £22,751) due to Another Option Limited, a company controlled by F L Gray, at the balance sheet date.

7
Parent company

The ultimate parent company is Trade Sale Limited, incorporated in England and Wales. Its registered office is at Unit 8, West London Industrial Park, Iver Lane, Uxbridge, UB8 2JG.

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