Registration number: 05028366

TLSFX Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

TLSFX Limited

Company Information

Director

Mr A Lewis

Registered office

Building 152 Faldingworth Base Spridlington Road Market Rasen Lincolnshire LN8 3SQ

TLSFX Limited

(Registration number: 05028366)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	34,507	39,724
Current assets
Stocks	5	225,366	227,123
Debtors	6	193,866	259,517
Cash at bank and in hand		1,967	112
		421,199	486,752
Creditors: Amounts falling due within one year	7	(240,261)	(305,252)
Net current assets		180,938	181,500
Total assets less current liabilities		215,445	221,224
Provisions for liabilities		(2,644)	(3,612)
Net assets		212,801	217,612
Capital and reserves
Called up share capital		2	2
Retained earnings		212,799	217,610
Shareholders' funds		212,801	217,612

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 October 2026
 

......................................... Mr A Lewis Director

TLSFX Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2026

1	General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Building 152
Faldingworth Base
Spridlington Road
Market Rasen
Lincolnshire
LN8 3SQ

These financial statements cover the individual entity, TLSFX Limited.

These financial statements were authorised for issue by the director on 27 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the Company’s ability to continue as a going concern for at least the next twelve months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of turnover can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

TLSFX Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2026

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Depreciation method and rate for Tangible assets
Asset class	Depreciation method and rate
Land and buildings	10% reducing balance basis
Fixtures, fittings and equipment	15% reducing balance basis
Motor vehicles	25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TLSFX Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2026

Trade creditors

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 the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the 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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 16 (2025 - 17).

TLSFX Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2026

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2025	45,026	189,337	16,266	250,629
At 31 January 2026	45,026	189,337	16,266	250,629
Depreciation
At 1 February 2025	30,000	164,729	16,176	210,905
Charge for the year	1,503	3,691	23	5,217
At 31 January 2026	31,503	168,420	16,199	216,122
Carrying amount
At 31 January 2026	13,523	20,917	67	34,507
At 31 January 2025	15,026	24,608	90	39,724

Included within the net book value of land and buildings above is £13,523 (2025 - £15,026) in respect of freehold land and buildings.
 

5

Stocks

	2026 £	2025 £
Work in progress	133,141	128,677
Other inventories	92,225	98,446
	225,366	227,123

6

Debtors

Current	2026 £	2025 £
Trade debtors	193,523	221,217
Prepayments	343	343
Other debtors	-	37,957
	193,866	259,517

TLSFX Limited

Notes to the Unaudited Financial Statements for the year ended 31 January 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Bank loans and overdrafts	9	-	29,051
Trade creditors		223,580	264,670
Taxation and social security		8,320	6,320
Other creditors		5,366	2,271
Accruals and deferred income		2,995	2,940
		240,261	305,252

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

9	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Bank overdrafts	-	29,051
Other borrowings	3,438	937
	3,438	29,988