Adrian Williams, Pashley's MD, won't say. He's here at IFMA Koln, the German trade show, celebrating his 51st birthday, and proud to launch the latest line-up of Pashley-produced Moulton bicycles.
The APB was first produced in 1992, a cheaper, heavier, 20-inch wheeled version of Dr Alex Moulton's groundbreaking small-wheeled, suspension-equipped, spaceframe machine.
The new TSR frames - there are two of them - feature fifteen design improvements over APB frames, said Williams.
The two variants are a road/tour frame which comes equipped with drop handlebars, and a town/trail frame with flat MTB flat handlebars.
The two frames are produced in three bike models: the TSR30, the TSR27 and the TSR8.
The TSR30 (£1450 RRP) features Campagnolo Veloce 3x10 transmission.
The TSR27 (£1095) is equipped with SRAM DualDrive 3x9 transmission.
The TSR8 city bike (£995) is equipped with a Sturmey Archer Phoenix 8 hubgear.
[Detract £100 per bike for fixed frame version compared to the separable frame version].
Like the other 10 000 bikes that Pashley markets, the TSR bikes are built in the UK. The TSR frames are made from a mix of Reynolds and Dedacciai cromo, with a new unified rear triangle.
Pashley has 25 employees, including six welders, two painters and seven bike assemblers.
Why does the company still make bikes in the UK?
"I'm passionate about design, development and manufacture in the UK," said Williams.
"We export 15-20 percent of our production and I'd like to see that increased so we can show that it's still possible to get good bicycle design and engineering done in Britain."
IFMA is the official launch pad for the TSR series although one model was available to touch at the annual Moulton Bicycle Club weekend held near Dr Alex Moulton's mansion in Bradford upon Avon on 3rd-4th September.
After IFMA, the next outing for the Pashley-Moulton TSR is the Interbike Las Vegas trade show in October.