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REGISTERED NUMBER: 00126674 (England and Wales)






















Teal & Mackrill Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Teal & Mackrill Limited (Registered number: 00126674)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Teal & Mackrill Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: B G Mackrill
R L Burnham





SECRETARY: S Moore





REGISTERED OFFICE: 30 Lockwood Street
Hull
East Yorkshire
HU2 0HN





REGISTERED NUMBER: 00126674 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Teal & Mackrill Limited (Registered number: 00126674)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 360 3,073
Tangible assets 5 870,336 938,183
Investments 6 15,527 15,527
886,223 956,783

CURRENT ASSETS
Stocks 1,684,739 1,690,533
Debtors 7 981,437 1,033,316
2,666,176 2,723,849
CREDITORS
Amounts falling due within one year 8 1,209,193 1,270,274
NET CURRENT ASSETS 1,456,983 1,453,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,343,206

2,410,358

CREDITORS
Amounts falling due after more than one
year

9

(281,451

)

(378,133

)

PROVISIONS FOR LIABILITIES (9,712 ) (22,271 )
NET ASSETS 2,052,043 2,009,954

CAPITAL AND RESERVES
Called up share capital 12 7,537 7,537
Capital redemption reserve 2,463 2,463
Retained earnings 2,042,043 1,999,954
SHAREHOLDERS' FUNDS 2,052,043 2,009,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Teal & Mackrill Limited (Registered number: 00126674)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:




B G Mackrill - Director



R L Burnham - Director


Teal & Mackrill Limited (Registered number: 00126674)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Teal & Mackrill Limited 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.

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

Preparation of consolidated financial statements
The financial statements contain information about Teal & Mackrill Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and accumulated impairment losses.

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Licences- 20% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property- 2% on cost
Integral features- 10% on cost
Leasehold improvements- 33-50% on cost
Plant and machinery- 10-33% on cost
Motor vehicles- 25% on cost
Fixtures and fittings- 10-33% on cost

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Teal & Mackrill Limited (Registered number: 00126674)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 year 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account on a straight line basis over the period of the lease.

Debtors and creditors receivable/payable within one year
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 profit and loss account in other administrative expenses.

Teal & Mackrill Limited (Registered number: 00126674)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitute a financing transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2022 - 57 ) .

4. INTANGIBLE FIXED ASSETS
Licences
£   
COST
At 1 January 2023
and 31 December 2023 90,243
AMORTISATION
At 1 January 2023 87,170
Amortisation for year 2,713
At 31 December 2023 89,883
NET BOOK VALUE
At 31 December 2023 360
At 31 December 2022 3,073

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 663,447 2,093,696 2,757,143
Additions 3,965 81,303 85,268
Disposals (1,520 ) (39,200 ) (40,720 )
At 31 December 2023 665,892 2,135,799 2,801,691
DEPRECIATION
At 1 January 2023 238,678 1,580,282 1,818,960
Charge for year 18,286 134,823 153,109
Eliminated on disposal (1,519 ) (39,195 ) (40,714 )
At 31 December 2023 255,445 1,675,910 1,931,355
NET BOOK VALUE
At 31 December 2023 410,447 459,889 870,336
At 31 December 2022 424,769 513,414 938,183

Teal & Mackrill Limited (Registered number: 00126674)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 January 2023
and 31 December 2023 15,527
NET BOOK VALUE
At 31 December 2023 15,527
At 31 December 2022 15,527

The company holds investments in Coo-Var Limited, a company registered in the United Kingdom, and Teal & Mackrill EU BV, a company registered in the Netherlands.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 704,982 765,815
Other debtors 276,455 267,501
981,437 1,033,316

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,468 268,448
Hire purchase contracts (see note 10) 69,987 69,987
Trade creditors 772,585 665,464
Amounts owed to group undertakings 15,527 15,527
Taxation and social security 76,877 74,754
Other creditors 262,749 176,094
1,209,193 1,270,274

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 183,844 210,539
Hire purchase contracts (see note 10) 97,607 167,594
281,451 378,133

Teal & Mackrill Limited (Registered number: 00126674)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 69,987 69,987
Between one and five years 97,607 167,594
167,594 237,581

Non-cancellable operating leases
2023 2022
£    £   
Within one year 25,640 30,000
Between one and five years 10,990 22,500
36,630 52,500

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 167,594 237,581
Bank loans and overdrafts 195,312 469,796
362,906 707,377

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
7,537 Ordinary £1 7,537 7,537

Teal & Mackrill Limited (Registered number: 00126674)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
B G Mackrill
Balance outstanding at start of year 35,161 44,546
Amounts advanced 71,025 54,850
Amounts repaid (36,645 ) (64,235 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,541 35,161