ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: NI055571

Teague & Sally Ltd

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2025

Teague & Sally Ltd

Registered number: NI055571

Balance Sheet

As at 31 July 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		120,000		160,000
Tangible assets	5		77,064		55,419
			197,064		215,419
Current assets
Stocks	6	31,906		30,428
Debtors: amounts falling due within one year	7	616,518		503,021
Cash at bank and in hand		189,835		217,161
		838,259		750,610
Creditors: amounts falling due within one year	8	(654,326)		(808,663)
Net current assets/(liabilities)			183,933		(58,053)
Total assets less current liabilities			380,997		157,366
Creditors: amounts falling due after more than one year	9		(65,301)		(23,861)
Provisions for liabilities
Other provisions		(20,000)		(20,000)
			(20,000)		(20,000)
Net assets			295,696		113,505

Capital and reserves
Called up share capital	12	102	102
Profit and loss account		295,594	113,403
		295,696	113,505

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Teague & Sally Ltd

Registered number: NI055571

Balance Sheet (continued)

As at 31 July 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 April 2026.

Mr Jason Arthur	Mr Johnston Bell
Director	Director

The notes on pages 3 to 11 form part of these financial statements.

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

1.	General information

Teague & Sally Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The directors of Teague & Sally Ltd have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, Teague & Sally Ltd continues to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

2.Accounting policies (continued)

2.10

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery	-	20%	reducing balance
Motor vehicles	-	20%	reducing balance
Fixtures and fittings	-	20%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.11

Stocks

Work in progress is directly attributable costs incurred to date by Teague & Sally Ltd on ongoing assignments and does not include profit margins.

2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

2.Accounting policies (continued)

2.16

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.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Staff & Directors	12	15

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 August 2024	400,000
	At 31 July 2025	400,000
	Amortisation
	At 1 August 2024	240,000
	Charge for the year on owned assets	40,000
	At 31 July 2025	280,000
	Net book value
	At 31 July 2025	120,000
	At 31 July 2024	160,000

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

5.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 August 2024	41,332	42,123	104,447	187,902
Additions	2,811	43,380	-	46,191
Disposals	-	(26,450)	-	(26,450)
At 31 July 2025	44,143	59,053	104,447	207,643
Depreciation
At 1 August 2024	26,983	15,391	90,109	132,483
Charge for the year on owned assets	3,304	2,131	936	6,371
Charge for the year on financed assets	-	2,658	-	2,658
Disposals	-	(10,933)	-	(10,933)
At 31 July 2025	30,287	9,247	91,045	130,579
Net book value
At 31 July 2025	13,856	49,806	13,402	77,064
At 31 July 2024	14,349	26,732	14,338	55,419

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Motor vehicles	39,042	15,517
	39,042	15,517

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

6.	Stocks
		2025	2024
		£	£

Work in progress	31,906	30,428
	31,906	30,428

Debtors

					2025	2024
					£	£


Trade debtors	377,683	43,415
Amounts owed by group undertakings	400	300
Other debtors	40,285	13,421
Prepayments and accrued income	198,150	445,885
	616,518	503,021

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	-	8,763
Bank loans	8,886	25,895
Other loans	9,807	10,648
Trade creditors	122,429	248,215
Amounts owed to group undertakings	6,670	6,670
Corporation tax	133,277	147,061
Other taxation and social security	54,863	3,268
Obligations under finance lease and hire purchase contracts	7,091	5,114
Other creditors	3,508	3,444
Accruals and deferred income	307,795	349,585
	654,326	808,663

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

9.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	-	20,716
Other loans	42,554	-
Net obligations under finance leases and hire purchase contracts	22,747	3,145
	65,301	23,861

Amounts falling due within one year
Bank loans	8,886	25,895
Other loans	9,807	10,648
	18,693	36,543
Amounts falling due 1-2 years
Bank loans	-	20,716
Other loans	42,554	-
	42,554	20,716


	61,247	57,259

Within one year	7,091	5,114
Between 1-5 years	22,748	3,145
	29,839	8,259

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Teague & Sally Ltd

Notes to the Financial Statements

For the Year Ended 31 July 2025

12.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

50 (2024 - 50) A Ordinary shares of £1.00 each	50	50
50 (2024 - 50) B Ordinary shares of £1.00 each	50	50
1 (2024 - 1) C Ordinary share of £1.00	1	1
1 (2024 - 1) D Ordinary share of £1.00	1	1

	102	102

13.	Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,237 (2024: £9,003). Contributions totalling £2,011 (2024: £1,947) were payable to the fund at the balance sheet date and are included in other creditors.

14.	Related party

Teague & Sally Ltd is claiming exemption under FRS 102 Section 33.1A from disclosing transactions entered between members within the group.

15.	Controlling party

The ultimate controlling party is JJCC Holdings Ltd.

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