REGISTERED NUMBER: 08271912 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 31 March 2026

for

Telescope Direct Marketing Ltd

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

C J Garnett

REGISTERED OFFICE:

Compass House

76 East Street

Leeds

West Yorkshire

LS9 8EE

REGISTERED NUMBER:

08271912 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

The director presents his report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of marketing production services to a range of customers and sectors, principally in the direct marketing field.

DIRECTOR

C J Garnett held office during the whole of the period from 1 April 2025 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

C J Garnett - Director

12 August 2026

FIXED ASSETS

Tangible assets

4

106,242

146,587

CURRENT ASSETS

Stocks

117,616

102,829

Debtors

5

2,131,774

2,000,076

Cash at bank

63,407

70,434

2,312,797

2,173,339

CREDITORS

Amounts falling due within one year

6

1,425,268

1,244,043

NET CURRENT ASSETS

887,529

929,296

TOTAL ASSETS LESS CURRENT LIABILITIES

993,771

1,075,883

CREDITORS

Amounts falling due after more than one year

7

(410,760

)

(608,457

)

PROVISIONS FOR LIABILITIES

-

(450

)

NET ASSETS

583,011

466,976

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

583,001

466,966

SHAREHOLDERS' FUNDS

583,011

466,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 August 2026 and were signed by:

C J Garnett - Director

1.	STATUTORY INFORMATION

Telescope Direct Marketing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the amount that derives from the provision of marketing services falling within the companies activities after the deduction of Value Added Tax. This is recognised upon completion of the service.

Turnover on the provision of contractual service obligations are recognised where the right to obtain consideration falls due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

The director has elected not to depreciate the classic vehicle as would not show an accurate value.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2025

1,984

197,440

8,887

208,311

Disposals

-

(33,699

)

-

(33,699

)

At 31 March 2026

1,984

163,741

8,887

174,612

DEPRECIATION

At 1 April 2025

1,633

51,204

8,887

61,724

Charge for year

53

22,126

-

22,179

Eliminated on disposal

-

(15,533

)

-

(15,533

)

At 31 March 2026

1,686

57,797

8,887

68,370

NET BOOK VALUE

At 31 March 2026

298

105,944

-

106,242

At 31 March 2025

351

146,236

-

146,587

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2025

190,620

Disposals

(33,699

)

At 31 March 2026

156,921

DEPRECIATION

At 1 April 2025

51,204

Charge for year

22,126

Eliminated on disposal

(15,533

)

At 31 March 2026

57,797

NET BOOK VALUE

At 31 March 2026

99,124

At 31 March 2025

139,416

5.

DEBTORS

31.3.26

31.3.25

£

£

Amounts falling due within one year:

Trade debtors

436,117

397,637

Other debtors

1,691,237

1,598,019

2,127,354

1,995,656

Amounts falling due after more than one year:

Other debtors

4,420

4,420

Aggregate amounts

2,131,774

2,000,076

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

279,821

246,010

Hire purchase contracts (see note 8)

74,729

40,350

Trade creditors

574,993

640,836

Taxation and social security

5,470

4,700

Other creditors

490,255

312,147

1,425,268

1,244,043

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

388,174

510,537

Hire purchase contracts (see note 8)

22,586

97,920

410,760

608,457

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,070

-

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.26

31.3.25

£

£

Net obligations repayable:

Within one year

74,729

40,350

Between one and five years

22,586

97,920

97,315

138,270

Non-cancellable

operating leases

31.3.26

31.3.25

£

£

Within one year

33,600

33,600

9.	SECURED DEBTS

HSBC Bank Plc/ HSBC Invoice Finance (UK) Ltd and Nucleus Cash Flow Finance2 have fixed and floating charges over the assets of the company.

I Leach and LE Leach have a fixed and floating charge over the freehold, leasehold or commonhold property.This was satisfied on the 1st July 2025

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has a personal guarantee on the loan from Funding Circle.