Company No: 03406791 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Intangible assets	4	106,924		84,112
Tangible assets	5	65,522		66,802
Investments	6	86		0
		172,532		150,914
Current assets
Stocks	7	130,543		119,790
Debtors	8	667,444		494,800
Cash at bank and in hand		7,459		51,079
		805,446		665,669
Creditors: amounts falling due within one year	9	( 793,828)		( 619,604)
Net current assets		11,618		46,065
Total assets less current liabilities		184,150		196,979
Creditors: amounts falling due after more than one year	10	( 929)		( 15,801)
Net assets		183,221		181,178
Capital and reserves
Called-up share capital	11	2,250		2,250
Share premium account		14,900		14,900
Profit and loss account		166,071		164,028
Total shareholders' funds		183,221		181,178

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 Telephone Systems Installations Limited (registered number: 03406791) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S Kyprianou Director

28 May 2026

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

Telephone Systems Installations 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 151 Business Design Centre, 52 Upper Street, N1 0QH, London, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 £.

Group accounts exemption

Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Prior year adjustment

A prior year adjustment of £84,112 was made to reclassify debtors as an intangible asset due to incorrect treatment. There has been no impact on the profit and loss as the intangible asset has an indefinite useful life and therefore no amortisation is recorded.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences

not amortised

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:

Plant and machinery	10 years straight line
Vehicles	5 years straight line

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.

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.

Impairment of assets

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

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

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. Prior year adjustment

		As previously reported		Adjustment		As restated
Year ended 31 August 2024		£		£		£
Debtors		578,912		(84,112)		494,800
Intangible Assets		0		84,112		84,112

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	18		13

4. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 01 September 2024	84,112		84,112
Additions	22,812		22,812
At 31 August 2025	106,924		106,924
Accumulated amortisation
At 01 September 2024	0		0
At 31 August 2025	0		0
Net book value
At 31 August 2025	106,924		106,924
At 31 August 2024	84,112		84,112

5. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 September 2024	86,959		64,175		151,134
Additions	20,740		0		20,740
At 31 August 2025	107,699		64,175		171,874
Accumulated depreciation
At 01 September 2024	60,016		24,316		84,332
Charge for the financial year	9,185		12,835		22,020
At 31 August 2025	69,201		37,151		106,352
Net book value
At 31 August 2025	38,498		27,024		65,522
At 31 August 2024	26,943		39,859		66,802

6. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 September 2024	0
Additions	86
At 31 August 2025	86
Carrying value at 31 August 2025	86
Carrying value at 31 August 2024	0

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.08.2025	Held
Syncmyres Ltd	35 Ballards Lane, London, England, N3 1XW	Dormant	Ordinary	86.00%	Direct

7. Stocks

	2025		2024
	£		£
Work in progress	130,543		119,790

8. Debtors

	2025		2024
	£		£
Trade debtors	449,630		290,576
Prepayments and accrued income	213,774		190,699
Other debtors	4,040		13,525
	667,444		494,800

9. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts (secured)	60,075		18,123
Trade creditors	315,303		307,570
Amounts owed to directors	110,532		0
Accruals and deferred income	191,477		211,189
Taxation and social security	104,753		73,234
Obligations under finance leases and hire purchase contracts	6,100		6,100
Other creditors	5,588		3,388
	793,828		619,604

The bank loans are secured on the property of the Company by way of a fixed and floating charge.

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

	2025		2024
	£		£
Bank loans (secured)	0		8,772
Obligations under finance leases and hire purchase contracts	929		7,029
	929		15,801

The bank loans are secured on the property of the Company by way of a fixed and floating charge.

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary A1 shares of £ 1.00 each	1,000		1,000
1,000 Ordinary A2 shares of £ 1.00 each	1,000		1,000
100 Ordinary B shares of £ 1.00 each	100		100
50 Ordinary C shares of £ 1.00 each	50		50
50 Ordinary D shares of £ 1.00 each	50		50
25 Ordinary E shares of £ 1.00 each	25		25
25 Ordinary F shares of £ 1.00 each	25		25
	2,250		2,250

12. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (Included within creditors)	4,216		3,388

13. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Included within other creditors are balances owed to the directors. This balance is unsecured and interest free with no fixed repayment terms.	98,685		0
Included within other creditors are balances owed to the directors. This balance is unsecured and interest charged of £178 with no fixed repayment terms.	11,847		0

14. Directors Advances, Credits and Guarantees

Included within other debtors is a balance of £Nil (2024: £12,024) owed by one of the directors to the company. This balance is unsecured, and interest is charged at 2.25% per annum. Total interest charged amounted to £178. The director withdrew £1,273 and made repayments totalling £25,322.