REGISTERED NUMBER: 11671583 (England and Wales)

Unaudited Financial Statements

for the Period 1 December 2023 to 31 March 2025

for

Teamed Ltd

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

C J Holdsworth

J Kalliath

A J Vallee

A A Mohammed

REGISTERED OFFICE:

International House

36-38 Cornhill

London

EC3V 3NG

REGISTERED NUMBER:

11671583 (England and Wales)

ACCOUNTANTS:

Chapman Robinson and Moore Limited

30 Bankside Court

Stationfields

Kidlington

Oxford

OX5 1JE

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Teamed Ltd for the period ended 31 March 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Teamed Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Teamed Ltd and state those matters that we have agreed to state to the Board of Directors of Teamed Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Teamed Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Teamed Ltd. You consider that Teamed Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Teamed Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Chapman Robinson and Moore Limited

30 Bankside Court

Stationfields

Kidlington

Oxford

OX5 1JE

Date: .............................................

FIXED ASSETS

Tangible assets

4

14,971

17,277

Investments

5

31,397

31,397

46,368

48,674

CURRENT ASSETS

Debtors

6

183,010

1,597,199

Cash at bank

822,531

971,011

1,005,541

2,568,210

CREDITORS

Amounts falling due within one year

7

(1,013,827

)

(2,004,770

)

NET CURRENT (LIABILITIES)/ASSETS

(8,286

)

563,440

TOTAL ASSETS LESS CURRENT LIABILITIES

38,082

612,114

CREDITORS

Amounts falling due after more than one year

8

(594,182

)

(325,015

)

PROVISIONS FOR LIABILITIES

(104,576

)

-

NET (LIABILITIES)/ASSETS

(660,676

)

287,099

CAPITAL AND RESERVES

Called up share capital

346

314

Share premium

4,023,197

2,962,081

Retained earnings

(4,684,219

)

(2,675,296

)

(660,676

)

287,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

A J Vallee - Director

1.	STATUTORY INFORMATION

Teamed Ltd 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.

Turnover

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

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Taxation

Taxation for the period comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern disclosure

The directors have identified material uncertainties related to events or conditions that may cast some doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2023

21,576

Additions

6,029

At 31 March 2025

27,605

DEPRECIATION

At 1 December 2023

4,299

Charge for period

8,335

At 31 March 2025

12,634

NET BOOK VALUE

At 31 March 2025

14,971

At 30 November 2023

17,277

5.	FIXED ASSET INVESTMENTS

Other

investment

£

COST

At 1 December 2023

and 31 March 2025

31,397

NET BOOK VALUE

At 31 March 2025

31,397

At 30 November 2023

31,397

The investments at the balance sheet date include the following:

100% of the share capital of Teamed DE GmbH, a company registered in Germany.

100% of the share capital of Teamed SP Sociedad Limitada, a company registered in Spain.

100% of the share capital of Teamed IE Ltd, a company registered in Ireland.

100% of the share capital of Teamed PPL B.V, a company registered in Netherlands.

100% of the share capital of Teamed NL B.V., a company registered in Netherlands.

100% of the share capital of Teamed Global PT LDA, a company registered in Portugal.

100% of the share capital of Teamed PL (RGPZ XX SP. Z.O.O.), a company registered in Poland

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

30/11/23

£

£

Trade debtors

1,824,194

1,109,237

Other debtors

(1,641,184

)

487,962

183,010

1,597,199

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

30/11/23

£

£

Bank loans and overdrafts

31,780

-

Trade creditors

156,992

270,426

Taxation and social security

109,203

78,976

Other creditors

715,852

1,655,368

1,013,827

2,004,770

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

30/11/23

£

£

Amounts owed to group undertakings

594,182

325,015

9.	RELATED PARTY DISCLOSURES

There is an amount owed from the company to Teamed DE GmbH (a wholly-owned subsidiary) at the year end of £98,709 (2023:£42,564)

There is an amount owed from the company to Teamed SP Sociedad (a wholly-owned subsidiary) at the year end of £318,981 (2023:£119,876)

There is an amount owed form the company to Teamed IE Ltd (a wholly-owned subsidiary) at the year end of £6,960 (2023: £5,029)

There is an amount owed from the company to Teamed PPL B.V (a wholly owned subsidiary) at the year end of £37,599 (2023: £711)

There is an amount owed from the company to Teamed NL B.V (a wholly owned subsidiary ) at the year end of £85,680 (2023: £91,840)

There is an amount owed from the company to Teamed Global PT LDA (a wholly owned subsidiary) at the year end of £57,069 (2023: £63,412)

There is an amount owed from the company to Teamed PL (RGPZ XX SP.Z.O.O) (a wholly-owned subsidiary at the year end of £22,896 (2023: £8,014)

There is an amount owed form the company to Teamed FR at the year end of £892 (2022: £892). The company is wholly owned by a director.

10.	POST BALANCE SHEET EVENTS

Convertible Loan Note Agreement

Subsequent to the reporting date, the company entered into an agreement with Prefcap for the issue of £1,000,000 of convertible loan notes. The agreement was approved by the company in April 2025, and funds were received in April 2025.

The loan notes have a two-year term with a fixed annual interest rate. At the end of the term, Prefcap has the option to convert the loan notes into equity.

In addition, Prefcap has been granted a separate warrant, entitling them to acquire a small percentage of the company’s equity, irrespective of whether the £1,000,000 loan notes are converted.

Advanced Share Agreements

After the reporting date, the company completed the conversion of shares under two agreements arranged through Wealthclub, acting as nominee for the shares.

- Tranche 1: Funds were received in February 2025 and converted into equity in August 2025.

- Tranche 2: Funds were received in May 2025 and converted into equity in November 2025.