REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
FOR |
TESSERACT UK ACCESS I LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
FOR |
TESSERACT UK ACCESS I LTD |
TESSERACT UK ACCESS I LTD (REGISTERED NUMBER: 14113779) |
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 I LTD |
COMPANY INFORMATION |
For The Period 1 June 2023 to 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
TESSERACT UK ACCESS I LTD (REGISTERED NUMBER: 14113779) |
BALANCE SHEET |
31 December 2023 |
2023 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
TESSERACT UK ACCESS I LTD (REGISTERED NUMBER: 14113779) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 June 2023 to 31 December 2023 |
1. | STATUTORY INFORMATION |
Tesseract UK Access I Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
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. |
The amounts due to related parties as at 31 December 2023 were as follows: |
- Tesseract Group Oy - £16,412 |
TESSERACT UK ACCESS I LTD (REGISTERED NUMBER: 14113779) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 June 2023 to 31 December 2023 |
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 I 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. |