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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2021 |
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TSL INSPECTIONS LTD |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2021 |
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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 2021 |
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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 2021 |
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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 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT LIABILITIES | ( |
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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 and authorised for issue 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 2021 |
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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. |
TSL INSPECTIONS LTD (REGISTERED NUMBER: 09741664) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2021 |
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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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Going concern |
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company for a period of 12 months from the date of these financial statements. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
TSL INSPECTIONS LTD (REGISTERED NUMBER: 09741664) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2021 |
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5. | RESERVES |
Retained |
earnings |
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At 1 July 2020 | ( |
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Deficit for the year | ( |
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At 30 June 2021 | ( |
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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. |
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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 throughout the period was Guideline Lift Services Limited by virtue of its shareholding in TSL Inspections Limited. |
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As of 11th October 2021, the ultimate controlling party is Kleeman Lifts UK Limited by virtue of its shareholding in Guideline Lift Services Limited. |
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The results of TSL Inspections Ltd are included in the consolidated accounts prepared by it's parent Guideline Lift Services Limited for the year ended 30th June 2021 and a copy of the accounts and audit report can be found at Companies House. |
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9. | GOING CONCERN |
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Despite the negative balance sheet, and current position of the company the Shareholders are fully supportive of TSL Inspections Ltd and on this basis consider the company to be a going concern. |
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10. | POST BALANCE SHEET EVENTS |
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On the 11th October 2021, Kleeman Lifts UK Limited purchased 100% of the share capital in Guideline Lift Services Limited. |