REGISTERED NUMBER: 11424385 (England and Wales)

Financial Statements for the Period 1 April 2025 to 30 April 2026

for

Telescope Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C J Garnett

REGISTERED OFFICE:

Compass House

76 East Street

Leeds

West Yorkshire

LS9 8EE

REGISTERED NUMBER:

11424385 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Tangible assets

4

71,050

95,067

Investments

5

1,240,720

1,240,720

1,311,770

1,335,787

CURRENT ASSETS

Stocks

-

32,450

Debtors

6

310,709

484,286

Cash at bank

2,413

6,911

313,122

523,647

CREDITORS

Amounts falling due within one year

7

1,520,729

1,598,892

NET CURRENT LIABILITIES

(1,207,607

)

(1,075,245

)

TOTAL ASSETS LESS CURRENT LIABILITIES

104,163

260,542

CREDITORS

Amounts falling due after more than one year

8

(93,343

)

(202,028

)

PROVISIONS FOR LIABILITIES

(9,972

)

-

NET ASSETS

848

58,514

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

828

58,494

848

58,514

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 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 Group 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is represented by management charges net of VAT. This is recognised when the company has provided the management services and therefore receives the right to consideration.

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

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

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 period 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 period 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.

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 period was 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2025

3,657

156,573

678

160,908

Additions

-

-

3,328

3,328

At 30 April 2026

3,657

156,573

4,006

164,236

DEPRECIATION

At 1 April 2025

2,194

62,969

678

65,841

Charge for period

792

25,351

1,202

27,345

At 30 April 2026

2,986

88,320

1,880

93,186

NET BOOK VALUE

At 30 April 2026

671

68,253

2,126

71,050

At 31 March 2025

1,463

93,604

-

95,067

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

Motor

vehicles

£

COST

At 1 April 2025

and 30 April 2026

156,573

DEPRECIATION

At 1 April 2025

62,969

Charge for period

25,351

At 30 April 2026

88,320

NET BOOK VALUE

At 30 April 2026

68,253

At 31 March 2025

93,604

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2025

and 30 April 2026

1,240,720

NET BOOK VALUE

At 30 April 2026

1,240,720

At 31 March 2025

1,240,720

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Telescope Direct Marketing Limited

Registered office: Compass House, 76 East Street, Leeds, West Yorkshire, LS9 8EE

Nature of business: Marketing

%

Class of shares:

holding

Ordinary

100.00

31.3.26

31.3.25

£

£

Aggregate capital and reserves

583,011

466,976

Profit for the year

116,035

135,112

Telescope Studios Limited

Registered office: Compass House, 76 East Street, Leeds, West Yorkshire, LS9 8EE

Nature of business: Marketing

%

Class of shares:

holding

Ordinary

100.00

31.3.26

31.3.25

£

£

Aggregate capital and reserves

(528,074

)

(258,990

)

Loss for the year

(269,084

)

(171,869

)

Telescope Motorsport Limited

Registered office: Fair View, Old Byland, York, North Yorkshire, England, YO62 5LG

Nature of business: car racing and advertising

%

Class of shares:

holding

Ordinary

100.00

31.3.26

31.3.25

£

£

Aggregate capital and reserves

(217,940

)

(122,725

)

Loss for the year

(95,215

)

(24,424

)

Telescope Doordrop Media Limited

Registered office: Compass House, 76 East Street, Leeds, West Yorkshire, LS9 8EE

Nature of business: administration & delivery services

%

Class of shares:

holding

Ordinary

100.00

31.3.26

31.3.25

£

£

Loss for the year

-

(31

)

Clearsilver Brand Marketing Limited

Registered office: Compass House, 76 East Street, Leeds, West Yorkshire, LS9 8EE

Nature of business: advertising

%

Class of shares:

holding

Ordinary

100.00

31.3.26

31.3.25

£

£

Aggregate capital and reserves

(67,482

)

(69,306

)

Profit/(loss) for the year

1,824

(109,140

)

6.

DEBTORS

30.4.26

31.3.25

£

£

Amounts falling due within one year:

Other debtors

275,387

448,964

Amounts falling due after more than one year:

Other debtors

35,322

35,322

Aggregate amounts

310,709

484,286

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.26

31.3.25

£

£

Bank loans and overdrafts

69,846

19,691

Hire purchase contracts (see note 9)

83,428

24,368

Trade creditors

36,935

17,356

Taxation and social security

40,098

42,939

Other creditors

1,290,422

1,494,538

1,520,729

1,598,892

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.26

31.3.25

£

£

Bank loans

73,227

97,877

Hire purchase contracts (see note 9)

20,116

104,151

93,343

202,028

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.4.26

31.3.25

£

£

Net obligations repayable:

Within one year

83,428

24,368

Between one and five years

20,116

104,151

103,544

128,519

Non-cancellable

operating leases

30.4.26

31.3.25

£

£

Within one year

47,139

42,269

Between one and five years

33,390

-

80,529

42,269

10.	SECURED DEBTS

HSBC holds a fixed and floating charge over the assets of the company and it contains a negative pledge.

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 April 2026 and the year ended 31 March 2025:

30.4.26

31.3.25

£

£

C J Garnett

Balance outstanding at start of period

104,658

84,436

Amounts advanced

98,861

123,583

Amounts repaid

(203,820

)

(103,361

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(301

)

104,658

Interest has been charged at the official rate.

This is repayable on demand.