2023-08-042024-08-312024-08-31false15050936TEAL CONNECT 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TEAL CONNECT LTD

Registered Number
15050936
(England and Wales)

Unaudited Financial Statements for the Period ended
31 August 2024

TEAL CONNECT LTD
Company Information
for the period from 4 August 2023 to 31 August 2024

Directors

DE MOURA ALVES SAAVEDRA PINTO, Andre
HART, Michael Tobias

Registered Address

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Registered Number

15050936 (England and Wales)
TEAL CONNECT LTD
Balance Sheet as at
31 August 2024

Notes

2024

£

£

Fixed assets
Tangible assets31,578
1,578
Current assets
Debtors423,075
Cash at bank and on hand317,047
340,122
Creditors amounts falling due within one year5(15,315)
Net current assets (liabilities)324,807
Total assets less current liabilities326,385
Net assets326,385
Capital and reserves
Called up share capital3
Share premium40,000
Other reserves405,854
Profit and loss account(119,472)
Shareholders' funds326,385
The financial statements were approved and authorised for issue by the Board of Directors on 11 February 2025, and are signed on its behalf by:
HART, Michael Tobias
Director
Registered Company No. 15050936
TEAL CONNECT LTD
Notes to the Financial Statements
for the period ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Defined contribution pension plan
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
2.Average number of employees

2024
Average number of employees during the year1
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions1,6831,683
At 31 August 241,6831,683
Depreciation and impairment
Charge for year105105
At 31 August 24105105
Net book value
At 31 August 241,5781,578
At 03 August 23--
4.Debtors: amounts due within one year

2024

£
Other debtors22,834
Prepayments and accrued income241
Total23,075
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables8,276
Amounts owed to related parties2,515
Taxation and social security4,268
Other creditors256
Total15,315
6.Further information regarding the company's financial position
Included in other reserves are Simple Agreements for Advanced Subscription Agreements ('ASA's') totaling £323,567 and Simple Agreement for Future Equity ('SAFE') totaling £82,287. These are expected to convert to equity at the time of the company's next equity funding round.