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Company No: 07654941 (England and Wales)

# TEEPEE LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

TEEPEE LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

TEEPEE LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 30 June 2025
TEEPEE LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 27,726 |  | 61,567
|  | 27,726 |  | 61,567
Current assets |  |  |  |
Debtors | 4 | 153,877 |  | 101,836
Cash at bank and in hand |  | 108,224 |  | 157,979
|  | 262,101 |  | 259,815
Creditors: amounts falling due within one year | 5 | ( 231,116) |  | ( 192,790)
Net current assets |  | 30,985 |  | 67,025
Total assets less current liabilities |  | 58,711 |  | 128,592
Creditors: amounts falling due after more than one year | 6 | ( 55,949) |  | ( 27,126)
Provision for liabilities |  | ( 1,902) |  | ( 9,338)
Net assets |  | 860 |  | 92,128
Capital and reserves |  |  |  |
Called-up share capital | 7 | 100 |  | 100
Profit and loss account |  | 760 |  | 92,028
Total shareholders' funds |  | 860 |  | 92,128

For the financial year ending 30 June 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 financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Teepee Limited (registered number: 07654941) were approved and authorised for issue by the Board of Directors on 10 November 2025. They were signed on its behalf by:

Hamish Renton Director |

TEEPEE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
TEEPEE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Teepee Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hra Global, 104a Reddenhill Road, Torquay, TQ1 3NT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £860. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Leasehold improvements | 4 years straight line
Vehicles | 25 % reducing balance
| 2 years straight line
Office equipment | 3 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 13 |  | 12

#### 3. Tangible assets

| Leasehold improve- ments |  | Vehicles |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 July 2024 | 11,374 |  | 67,014 |  | 83,248 |  | 161,636
Additions | 0 |  | 0 |  | 2,370 |  | 2,370
Disposals | 0 |  | ( 4,794) |  | ( 3,165) |  | ( 7,959)
At 30 June 2025 | 11,374 |  | 62,220 |  | 82,453 |  | 156,047
Accumulated depreciation |  |  |  |  |  |  |
At 01 July 2024 | 8,531 |  | 34,583 |  | 56,955 |  | 100,069
Charge for the financial year | 2,843 |  | 14,725 |  | 15,448 |  | 33,016
Disposals | 0 |  | ( 1,932) |  | ( 2,832) |  | ( 4,764)
At 30 June 2025 | 11,374 |  | 47,376 |  | 69,571 |  | 128,321
Net book value |  |  |  |  |  |  |
At 30 June 2025 | 0 |  | 14,844 |  | 12,882 |  | 27,726
At 30 June 2024 | 2,843 |  | 32,431 |  | 26,293 |  | 61,567

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 143,954 |  | 94,285
Prepayments and accrued income | 9,923 |  | 7,551
| 153,877 |  | 101,836

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 15,926 |  | 10,000
Trade creditors | 22,126 |  | 10,486
Amounts owed to directors | 5,758 |  | 55,663
Accruals and deferred income | 52,175 |  | 19,350
Taxation and social security | 75,237 |  | 81,233
Obligations under finance leases and hire purchase contracts (secured) | 4,376 |  | 4,209
Other creditors | 55,518 |  | 11,849
| 231,116 |  | 192,790

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 42,366 |  | 9,167
Obligations under finance leases and hire purchase contracts (secured) | 13,583 |  | 17,959
| 55,949 |  | 27,126

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
85 Ordinary shares of £ 1.00 each | 85 |  | 85
5 Ordinary B shares of £ 1.00 each (2024: 10 shares of £ 1.00 each) | 5 |  | 10
5 Ordinary C shares of £ 1.00 each | 5 |  | 5
5 Ordinary D shares of £ 1.00 each (2024: nil shares) | 5 |  | 0
| 100 |  | 100

#### 8. Financial commitments

Commitments

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

| 2025 |  | 2024
| £ |  | £
within one year | 22,500 |  | 30,000
between one and five years | 0 |  | 22,500
Total future minimum lease payments under non-cancellable operating leases | 22,500 |  | 52,500

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

| 2025 |  | 2024
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 1,690 |  | 1,943

#### 9. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Owed by/(to) the directors | (5,758) |  | (55,968)
Owed by/(to) close family of the directors | (49,695) |  | 305

Interest is charged on overdrawn balances at the HMRC approved rate of 2.25%, and the balance is repayable on demand.