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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2019 |
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TSL INSPECTIONS LTD |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2019 |
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FOR |
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TSL INSPECTIONS LTD |
TSL INSPECTIONS LTD (REGISTERED NUMBER: 09741664) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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TSL INSPECTIONS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
and Statutory Auditors |
5 White Oak Square |
London Road |
Swanley |
Kent |
BR8 7AG |
TSL INSPECTIONS LTD (REGISTERED NUMBER: 09741664) |
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BALANCE SHEET |
30 JUNE 2019 |
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2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 2 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Retained earnings | 5 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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TSL INSPECTIONS LTD (REGISTERED NUMBER: 09741664) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the company. |
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Preparation of consolidated financial statements |
The financial statements contain information about TSL Inspections Ltd as an individual company and do not |
contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of |
the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary |
undertakings are included by full consolidation in the consolidated financial statements of its parent, Guideline Lift |
Services Limited, . |
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Turnover |
Turnover represents amounts invoiced to customers based on services completed excluding value added tax. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
TSL INSPECTIONS LTD (REGISTERED NUMBER: 09741664) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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1. | ACCOUNTING POLICIES - continued |
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Short term debtors and creditors |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the income statement in other operating |
expenses. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with an |
original maturity date of three months or less. |
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Critical accounting judgements and key sources of estimation uncertainty |
In the application of the group's accounting policies, the directors are required to make judgements, estimates and |
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The |
estimates and associated assumptions are based on historical experience and other factors that are considered to be |
relevant. Actual results may differ from these estimates. |
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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 where the revision affects only that period, or in the period |
of the revision and future periods where the revision affects both current and future periods. |
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There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying |
amount of assets and liabilities in these accounts. |
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2. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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TSL INSPECTIONS LTD (REGISTERED NUMBER: 09741664) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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5. | RESERVES |
Retained |
earnings |
£ |
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At 1 July 2018 |
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Deficit for the year | ( |
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At 30 June 2019 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | RELATED PARTY DISCLOSURES |
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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. |
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Guideline Lift Services Limited is the parent company of TSL Inspections Limited. Purchase invoices were |
recharged from Guidelines Lift Services Limited during the period for Consultancy and Subscriptions amounting to |
£Nil. Wages of £Nil were also recharged. |
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At the balance sheet date Guideline Lift Services Limited was owed £4,097 by TSL Inspections Limited (2018: |
£22,441 owed) as an intercompany loan. |
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There are no key management personnel transactions during the year. |
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8. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is T Jepheart & S Jepheart by virtue of their shareholding in Guideline Lift Services |
Limited. |