Teal Products Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03911485

Teal Products Limited

Filleted Unaudited Financial Statements

31 March 2025

Teal Products Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Teal Products Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Teal Products Limited

Year ended 31 March 2025

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

HARPER SHELDON LIMITED Chartered accountants

Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ

10 October 2025

Teal Products Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	30,000	35,000
Tangible assets	6	119,375	19,052
Investments	7	–	566,669
		---------	---------
		149,375	620,721

Current assets

Stocks		1,674,022	924,620
Debtors	8	2,146,176	1,900,308
Cash at bank and in hand		889,517	964,533
		------------	------------
		4,709,715	3,789,461

Creditors: amounts falling due within one year	9	1,493,283	1,816,256
		------------	------------
Net current assets		3,216,432	1,973,205
		------------	------------
Total assets less current liabilities		3,365,807	2,593,926

Provisions	13,524	–
	------------	------------
Net assets	3,352,283	2,593,926
	------------	------------

Capital and reserves

Called up share capital	8	8
Capital redemption reserve	2	2
Profit and loss account	3,352,273	2,593,916
	------------	------------
Shareholders funds	3,352,283	2,593,926
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Teal Products Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 10 October 2025 , and are signed on behalf of the board by:

Mr S B Yiend

Director

Company registration number: 03911485

Teal Products Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Unit 8a, Orchard Industrial Estate, Toddington, Cheltenham, Gloucestershire, GL54 5EB, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property improvements	-	Straight line over the lease term
Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 23 (2024: 22 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	50,000
	--------
Amortisation
At 1 April 2024	15,000
Charge for the year	5,000
	--------
At 31 March 2025	20,000
	--------
Carrying amount
At 31 March 2025	30,000
	--------
At 31 March 2024	35,000
	--------

6. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2024	–	7,868	47,961	16,329	61,736	133,894
Additions	100,157	–	–	–	11,654	111,811
Transfers	36,787	–	( 36,787)	–	–	–
	---------	-------	--------	--------	--------	---------
At 31 Mar 2025	136,944	7,868	11,174	16,329	73,390	245,705
	---------	-------	--------	--------	--------	---------
Depreciation
At 1 Apr 2024	–	6,847	37,188	16,329	54,478	114,842
Charge for the year	2,995	255	127	–	8,110	11,487
Transfers	26,803	–	( 26,802)	–	–	1
	---------	-------	--------	--------	--------	---------
At 31 Mar 2025	29,798	7,102	10,513	16,329	62,588	126,330
	---------	-------	--------	--------	--------	---------
Carrying amount
At 31 Mar 2025	107,146	766	661	–	10,802	119,375
	---------	-------	--------	--------	--------	---------
At 31 Mar 2024	–	1,021	10,773	–	7,258	19,052
	---------	-------	--------	--------	--------	---------

7. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024	566,669
Disposals	( 596,720)
Other movements	30,051
	---------
At 31 March 2025	–
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	–
	---------
At 31 March 2024	566,669
	---------

8. Debtors

	2025	2024
	£	£
Trade debtors	1,307,077	1,250,978
Amounts owed by group undertakings and undertakings in which the company has a participating interest	350,000	–
Other debtors	489,099	649,330
	------------	------------
	2,146,176	1,900,308
	------------	------------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	846,546	732,255
Corporation tax	254,134	511,755
Social security and other taxes	213,187	224,448
Other creditors	179,416	347,798
	------------	------------
	1,493,283	1,816,256
	------------	------------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	144,750	34,750
Later than 1 year and not later than 5 years	467,100	116,850
	---------	---------
	611,850	151,600
	---------	---------

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr T Yiend	366,856	8,254	( 350,000)	25,110
Mr B H Yiend	3,939	63,412	–	67,351
Mr S B Yiend	6,947	201,940	–	208,887
	---------	---------	---------	---------
	377,742	273,606	( 350,000)	301,348
	---------	---------	---------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr T Yiend	( 11,907)	378,763	–	366,856
Mr B H Yiend	3,939	–	–	3,939
Mr S B Yiend	6,947	–	–	6,947
	--------	---------	----	---------
	( 1,021)	378,763	–	377,742
	--------	---------	----	---------

Overdrawn directors' loan accounts have no fixed repayment terms and interest is charged at 2.25% on balances exceeding £10,000.