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REGISTERED NUMBER: 14113838 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023

FOR

TESSERACT UK ACCESS II LTD

TESSERACT UK ACCESS II LTD (REGISTERED NUMBER: 14113838)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 June 2023 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TESSERACT UK ACCESS II LTD

COMPANY INFORMATION
For The Period 1 June 2023 to 31 December 2023







DIRECTOR: Y Wu





REGISTERED OFFICE: 7a Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT





REGISTERED NUMBER: 14113838 (England and Wales)

TESSERACT UK ACCESS II LTD (REGISTERED NUMBER: 14113838)

BALANCE SHEET
31 December 2023

2023 2023
Notes £    £   
CURRENT ASSETS
Stocks 1,107,567 2,063
Debtors 4 13,601,062 -
Cash at bank - 7,518
14,708,629 9,581
CREDITORS
Amounts falling due within one year 5 14,728,408 55,009
NET CURRENT LIABILITIES (19,779 ) (45,428 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,779

)

(45,428

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (19,879 ) (45,528 )
SHAREHOLDERS' FUNDS (19,779 ) (45,428 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 February 2025 and were signed by:





Y Wu - Director


TESSERACT UK ACCESS II LTD (REGISTERED NUMBER: 14113838)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 June 2023 to 31 December 2023


1. STATUTORY INFORMATION

Tesseract UK Access II 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.

The financial statements have been prepared on a going concern basis, which the director considers to be appropriate, as Tesseract Group Oy has agreed not to withdraw their loan account and to provide the necessary finance to enable the company to meet its liabilities as they fall due.

Turnover
Turnover represents loan interest received from cryptocurrency lending activities during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Inventory
Inventories comprise of cryptocurrencies that are held at fair value less costs to sell as it is considered a more relevant measure of the company's performance as the company operates in an active market where sale of cryptocurrencies can be achieved at published prices and is a store of readily realisable value.

Financial instruments
The company enters into basic financial instruments and more specifically borrowing and lending instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 13,601,062 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade creditors 14,648,106 -
Amounts owed to group undertakings 80,302 55,009
14,728,408 55,009

6. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TESSERACT UK ACCESS II LTD (REGISTERED NUMBER: 14113838)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 31 December 2023


6. RELATED PARTY DISCLOSURES - continued

The amounts due to related parties as at 31 Dec 2023 were as follows:

- Tesseract Group Oy - £80,302 (May 2023 - £55,009)

7. ULTIMATE CONTROLLING PARTY

The director considers Tesseract Group Oy (incorporated in Finland) to be the Ultimate Controlling Party.

Tesseract Group Oy is the parent company in which Tesseract UK Access II Ltd is a member and for which consolidated financial statements are prepared. The registered office and principal place of business of Tesseract Group Oy is: Porkkalankatu 22 A, 00180 Helsinki, Finland.

8. TAX RESIDENCY

The company has obtained a Certificate of Residency from the Finnish tax authorities and deems Finland to be the place of effective management. The company is considered tax resident in Finland and not the UK.