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Registered number: 13567548









TETHERCELLS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2024

 
TETHERCELLS LIMITED
REGISTERED NUMBER: 13567548

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

  

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 4 
66,948
2,670

Cash at bank and in hand
  
6,142
6,442

Creditors: amounts falling due within one year
 5 
(544,917)
(477,024)

NET CURRENT LIABILITIES
  
 
 
(471,827)
 
 
(467,912)

  

NET LIABILITIES
  
(471,827)
(467,912)


CAPITAL AND RESERVES
  

Called up share capital 
 6 
102
101

Share premium account
  
198
119

Profit and loss account
  
(472,127)
(468,132)

  
(471,827)
(467,912)


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 period 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 profit and loss account 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 by: 




Mr N Holmes
Director

Date: 25 February 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
TETHERCELLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

1.


GENERAL INFORMATION

Tethercells Limited is a private company limited by shares and incorporated in England and Wales.  Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA. 
The Company's functional and presentational currency is GBP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Company incurred a loss for the financial period and had net liabilities as at the year end. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from the shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due.

 
2.3

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.

 
2.4

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.

 
2.5

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.

Page 2

 
TETHERCELLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

RESEARCH AND DEVELOPMENT

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

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.



3.


EMPLOYEES




The average monthly number of employees, including directors, during the period was 2 (2023 - 3).


4.


DEBTORS

2024
2023
£
£


Trade debtors
-
1,974

Other debtors
66,320
-

Prepayments and accrued income
628
696

66,948
2,670


Page 3

 
TETHERCELLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
5,920
10,461

Other creditors
532,162
462,783

Accruals and deferred income
6,835
3,780

544,917
477,024



6.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



10,000 (2023 - 10,000) Ordinary shares of £0.01 each
100
100
200 (2023 -120) Ordinary Non-Voting shares of £0.01 each
2
1

102

101


During the year, the Company issued 80 Ordinary Non-Voting £0.01 shares at a subscription price of £1 per share.

 
Page 4