Teal International Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Teal International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06474143 . The registered office is Pera Business Park, Nottingham Road, Melton Mowbray, Leicestershire, LE13 0PB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 15 years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are the website development. It is amortised to the profit and loss account over its estimated economic life of 5 years.

2.5. Intangible Fixed Assets and Amortisation - Intellectual Property

Business Intellectual Property Rights are amortised to the profit and loss account over its estimated economic life of 15 years.

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Teal International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% straight line
Motor Vehicles	25% straight line

2.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.9. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Teal International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.10. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 7)

4. Intangible Assets

	Goodwill	Other	Intellectual Property	Total
	£	£	£	£
Cost
As at 1 January 2025	-	-	-	-
Additions	5,000	3,800	5,000	13,800

As at 31 December 2025	5,000	3,800	5,000	13,800

Amortisation
As at 1 January 2025	-	-	-	-
Provided during the period	325	317	325	967

As at 31 December 2025	325	317	325	967

Net Book Value
As at 31 December 2025	4,675	3,483	4,675	12,833

As at 1 January 2025	-	-	-	-

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Teal International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2025	66,362	68,824	135,186
Additions	62,362	1,500	63,862
Disposals	(14,408 )	-	(14,408 )

As at 31 December 2025	114,316	70,324	184,640

Depreciation
As at 1 January 2025	48,822	41,581	90,403
Provided during the period	10,343	17,488	27,831
Disposals	(14,408 )	-	(14,408 )

As at 31 December 2025	44,757	59,069	103,826

Net Book Value
As at 31 December 2025	69,559	11,255	80,814

As at 1 January 2025	17,540	27,243	44,783

6. Stocks

	2025	2024
	£	£
Stock	710,322	689,499

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	832,316	1,109,325
Other debtors	240,472	107,772

	1,072,788	1,217,097

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Teal International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	148,478	294,871
Other creditors	119,541	377,637
Taxation and social security	195,334	159,711

	463,353	832,219

A fixed and floating charge is secured on the trade debtors under an invoice discounting

agreement with Close Brothers Limited

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	999,691	597,588

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

11. Other Commitments

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

	2025	2024
	£	£
Not later than one year	54,408	59,855
Later than one year and not later than five years	25,900	80,309

	80,308	140,164

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		12,833		-
Tangible Assets	5		80,814		44,783

			93,647		44,783
CURRENT ASSETS
Stocks	6	710,322		689,499
Debtors	7	1,072,788		1,217,097
Cash at bank and in hand		93,850		79,607

		1,876,960		1,986,203
Creditors: Amounts Falling Due Within One Year	8	(463,353 )		(832,219 )

NET CURRENT ASSETS (LIABILITIES)			1,413,607		1,153,984

TOTAL ASSETS LESS CURRENT LIABILITIES			1,507,254		1,198,767

Creditors: Amounts Falling Due After More Than One Year	9		(999,691 )		(597,588 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(19,064 )		(10,300 )

NET ASSETS			488,499		590,879

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			488,497		590,877

SHAREHOLDERS' FUNDS			488,499		590,879