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Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2025
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TEAM TELECOMMUNICATIONS GROUP LIMITED
COMPANY INFORMATION
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TEAM TELECOMMUNICATIONS GROUP LIMITED
CONTENTS
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TEAM TELECOMMUNICATIONS GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The Directors, in preparing this strategic report, have complied with s414C of the Companies Act 2006.
The principal activity of the Company is that of a holding company.
The Company's balance sheet is set out on page 11. The Directors consider that the financial position of the Company is satisfactory. The results for the Company show a pre-tax profit of £4,590,000 (2024 - £137,000) and profit after tax of £4,590,000 (2024 - £137,000).
The Company owns directly or indirectly 3 trading companies; Simoco EMEA Limited, Simoco Systems Limited (formerly Thorcom Systems Limited) and Simoco Wireless Solutions PTY Limited. The TTG Global Solutions Group Limited group, referred to herein as “the Group”, of which the Company is a part, is a global provider of critical communications solutions. The Group is a telecommunications group providing telecommunication services to a number of sectors internationally. The three main trading companies of the group are Simoco EMEA Limited, Simoco Systems Limited (formerly Thorcom Systems Limited) and Simoco Wireless Solutions PTY Limited. The directors of the business are satisfied with the development, performance and position of the Company. The financial statements have been prepared on a going concern basis as explained on page 14 of the financial statements. The cash position of the Group shows a positive position with cash of £0.9m at the end of the year (2024 - £0.6m). The Group has adequate funding facilities in place to fulfil the needs and requirements of the Group.
The principal risks and uncertainties of the Company are:
• The value of the Company's investments
As the Company does not trade the Directors do not consider any KPIs to be relevant for the Company.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The Company is part of the TTG Global Solutions Group Limited group. The Company and Group have procedures in place for reviewing future performance including budgeted and forecast trading and profitability. These forecasts include reasonable assumptions and predictions over trading; they take a prudent view of the costs of the business.
Overall the Group saw revenues of £15.8m in 2024/25 and trading profit of £0.2m. The Group has seen strong trading results during the start of 2025-26 and with a healthy pipeline and new product offerings coming online, we therefore expect steady turnover growth in the coming years, which should drive the profitability of the business. In addition, the Group has cash resources and banking facilities in place to enable it to continue in operational existence for the 12 months from the signing of these accounts. The Group, like most other trading groups, is exposed to fluctuations in trading and the need to continually win and deliver new contracts on a profitable basis to new and existing customers to ensure it's continued success and survival. The Directors believe that their forecasts give a reasonable expectation to assume that the Group will have adequate resources to continue in existence for the 12 months from the signing of these accounts. The company has net current liabilities of £0.1m at 31 October 2025. The directors have received confirmation, in the form of a letter of support from the ultimate parent company, TTG Global Solutions Group Limited, that fellow group companies intend to provide support as required to enable the company to meet its obligations as they fall due. Taking the matters above into account, and having reviewed these forecasts, for the 12 months from the date of this report, and as a result of that review, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the 12 months from the signing of the financial statements. Accordingly, the going concern basis of preparation has been adopted in the financial statements.
Future developments
The Directors do not anticipate any factors likely to significantly impact the business in the coming 12 months.
This report was approved by the board on 20 July 2026 and signed on its behalf.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their report and the financial statements for the year ended 31 October 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £4,590,000 (2024 - £137,000).
The directors do not propose a dividend for the year. There have been no dividends proposed since the year end (2024: £nil).
The Company's financial risk management objectives and policies are considered on a group basis. The Group's activities expose it to a number of financial risks including cash flow risk, credit risk, interest rate risk and liquidity risk. The Group has a robust set of internal control and risk management systems in relation to financial reporting, with the underlying records being maintained by individuals with adequate levels of role segregation, with these records and management accounts being reviewed by senior financial executives. The management accounts together with supporting reports are presented and reviewed by the Board on a monthly basis.
Cash flow risk The Company considers cash flow risk at a Group level. The Group’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates, interest rates and requirement for capital expenditure.
Credit risk
The Company considers credit risk at a Group level. The Group’s principal financial assets are bank balances and cash, trade and other receivables.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The Group’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The companies in the Group have historically had little experience of debts going bad principally as they work for large and blue chip companies.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies. The Group has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk The Company considers liquidity risk at a Group level. In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the company uses a mixture of long-term and short-term debt finance. For long-term contracts, the Group normally sets payment terms that are in line with the procurement process minimising the level of risk the Group is exposed to in terms of cash flow and working capital at any one time. Interest rate risk The Company’s activities expose it primarily to the financial risks of changes in interest rates which are managed through long term agreements or at fixed rates to limit uncertainty of cash flows.
The Company has made qualifying third-party indemnity provisions for the benefits of it's Directors which were in place throughout the period and remain in force at the date of this report.
The directors who served during the year were:
Comments on future developments are disclosed in the Strategic Report.
There have been no significant events affecting the Company since the year end.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
The auditors, PKF Smith Cooper Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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TEAM TELECOMMUNICATIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TEAM TELECOMMUNICATIONS GROUP LIMITED
We have audited the financial statements of Team Telecommunications Group Limited (the 'Company') for the year ended 31 October 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TEAM TELECOMMUNICATIONS GROUP LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TEAM TELECOMMUNICATIONS GROUP LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the Company and industry in which it operates, key laws and regulations that we identified included:
∙Tax legislation.
We identified that the principal risk of fraud or non-compliance with laws and regulations related to:
∙Management bias in respect of accounting estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
We focused on those areas that could give rise to a material misstatement in the Company's financial statements.
Our procedures included, but were not limited to:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims including instances of non-compliance with laws and regulations and fraud;
∙Reviewing minutes of meetings of those charged with governance, where available;
∙Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TEAM TELECOMMUNICATIONS GROUP LIMITED (CONTINUED)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditors
Cornerblock
2 Cornwall Street
B3 2DX
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TEAM TELECOMMUNICATIONS GROUP LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
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TEAM TELECOMMUNICATIONS GROUP LIMITED
REGISTERED NUMBER: 05131474
BALANCE SHEET
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 22 form part of these financial statements.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Team Telecommunications Group Limited is a private limited company, limited by shares and incorporated in England and Wales, United Kingdom. The address of the registered office is given in the company information of these financial statements. The Company's registration number is 05131474.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements are prepared in Sterling which is the functional currency of the company and are rounded to the nearest thousand pounds.
The Company is itself a subsidiary company and is exempt from the requirement to prepare consolidated accounts by virtue of section 400 of the Companies Act 2006. These financial statements therefore present information about the Company as an individual undertaking and not about the group of which it is a part. The parent for which group accounts are prepared is TTG Global Solutions Group Limited.
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of TTG Global Solutions Group Limited as at 31 October 2025 and these financial statements may be obtained from Companies House.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The Company is part of the TTG Global Solutions Group Limited group. The Company and Group have procedures in place for reviewing future performance including budgeted and forecast trading and profitability. These forecasts include reasonable assumptions and predictions over trading; they take a prudent view of the costs of the business.
Overall the Group saw revenues of £15.8m in 2024/25 and trading profit of £0.2m. The Group has seen strong trading results during the start of 2025-26 and with a healthy pipeline and new product offerings coming online, we therefore expect steady turnover growth in the coming years, which should drive the profitability of the business. In addition, the Group has cash resources and banking facilities in place to enable it to continue in operational existence for the 12 months from the signing of these accounts. The Group, like most other trading groups, is exposed to fluctuations in trading and the need to continually win and deliver new contracts on a profitable basis to new and existing customers to ensure it's continued success and survival. The Directors believe that their forecasts give a reasonable expectation to assume that the Group will have adequate resources to continue in existence for the 12 months from the signing of these accounts. The company has net current liabilities of £0.1m at 31 October 2025. The directors have received confirmation, in the form of a letter of support from the ultimate parent company, TTG Global Solutions Group Limited, that fellow group companies intend to provide support as required to enable the company to meet its obligations as they fall due. Taking the matters above into account, and having reviewed these forecasts, for the 12 months from the date of this report, and as a result of that review, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the 12 months from the signing of the financial statements. Accordingly, the going concern basis of preparation has been adopted in the financial statements.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Equity instruments are measured at fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Critical judgements in applying the Company’s accounting policies The directors do not consider there to be any critical accounting judgements that must be applied Key source of estimation uncertainty in applying the Company’s accounting policies A key source of estimation and uncertainty relates to the valuation of investments that has the most significant effect on the amounts recognised in the financial statements. The value in use calculation requires the entity to estimate the future cash flows expected to arise from the investment and a suitable discount rate in order to calculate present values. If there is an indication of impairment, it is provided for in full. The carrying value of the intercompany receivables is an area of estimation uncertainty. The value calculation requires the entity to estimate the ability of the debtor to be able to repay the outstanding amounts by generation of taxable profits through trading, and this estimation determines the carrying value of the intercompany receivables. At 31 October 2025, the carrying value of intercompany receivables was £2,439,000 (2024: £2,358,0000).
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
7.Taxation (continued)
There were no factors that may affect future tax charges.
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Profit and loss account
During the year, management reviewed the presentation of the amount receivable of £2,021,000 from a subsidiary to the Company and concluded that the balance should have been disclosed as a long term loan, included within investments, given there is no intention for the balance to be settled in the foreseeable future. There is no impact on the Statement of Comprehensive Income in the prior year. On the Balance sheet as at 1 November 2023 Debtors: amounts owed by group undertakings, Current assets and Net current assets decreased by £2,081,000 and investments increased by £2,081,000. On the Balance sheet at 31 October 2024 Debtors: amounts owed by group undertakings, Current assets and Net current assets decreased by £2,021,000 and investments increased by £2,021,000.
During the year, management identified the disposal of a subsidiary in previous years had not been reflected in the amounts disclosed in the fixed asset investments note. There is no impact on the Statement of Comprehensive Income in the prior year. On the Balance sheet as at 1 November 2023 and 31 October 2024, cost of investments in subsidiaries decreased by £824,000 and impairment of investments in subsidiaries decreased by £824,000.
The Company has entered into an unlimited cross-party bank guarantee between itself and certain of its fellow subsidiary companies. The resultant guarantee amounts to £1,830,000 at the balance sheet date (2024 - £1,500,000) and is secured against the assets of the Group.
The Company is also a member of a VAT group. and as such is jointly and severally liable for the amount of VAT owed by Simoco EMEA Limited and Simoco Wireless Solutions Limited, at the balance sheet date the contingent liability was £76,000 (2024 - £101,000).
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TEAM TELECOMMUNICATIONS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The immediate parent undertaking is TTG Global Solutions Limited which is registered in England and Wales. The ultimate parent company is TTG Global Solutions Group Limited. The Company's registered office address is Field House, Uttoxeter Old Road, Derby, DE1 1NH.
The smallest and largest group in which the results of the company are consolidated is that headed by TTG Global Solutions Group Limited, which is the only entity that prepares consolidated financial statements. The consolidated financial statements of TTG Global Solutions Group Limited are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.
The directors consider that there is no ultimate controlling party.
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