Tenyks Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Tenyks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12340600 . The registered office is Eagle Labs, 28 Chesterton Road, Cambridge, CB4 3AZ.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Disclosure of long or short period

The financial period was shortened from 30 November 2025 to 31 July 2025 therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

2.2. Exemption From Preparing Consolidated Financial Statements

The company has taken advantage of the exemption under section 402 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

2.3. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future.

The Company is involved in research and development activities and is working towards achieving a sustainable revenue generating activity. The directors have considered the basis of the financial statements and are satisfied that a combination of business growth and further investment commitments will enable the Company to meet its liabilities as they fall due.

2.4. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Patents. They are amortised to profit and loss account over their estimated economic life of 4 years.

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:

Computer Equipment

Straight line over 4 years

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Tenyks Limited

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 July 2025

2.8. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.

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 profit / loss before taxation.

2.10. Taxation

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

2.11. 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.

2.12. 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.

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.

2.13. Share Based Payments

The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 8 (2024: 9)

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Tenyks Limited

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 July 2025

4. Intangible Assets

	Other
	£
Cost
As at 1 December 2024	15,256
Additions	495

As at 31 July 2025	15,751

Amortisation
As at 1 December 2024	8,947
Provided during the period	2,600

As at 31 July 2025	11,547

Net Book Value
As at 31 July 2025	4,204

As at 1 December 2024	6,309

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 December 2024	30,737
Additions	3,980

As at 31 July 2025	34,717

Depreciation
As at 1 December 2024	13,606
Provided during the period	5,487

As at 31 July 2025	19,093

Net Book Value
As at 31 July 2025	15,624

As at 1 December 2024	17,131

6. Debtors

	31 July 2025	30 November 2024
	£	£
Due within one year
Trade debtors	7,649	100
Prepayments and accrued income	5,561	5,020
Other debtors	9,369	18,176
Corporation tax recoverable	93,529	196,089
VAT	3,594	10,336

	119,702	229,721

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Tenyks Limited

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 July 2025

7. Creditors: Amounts Falling Due Within One Year

	31 July 2025	30 November 2024
	£	£
Trade creditors	23,725	(536 )
Other taxes and social security	13,416	13,166
Other creditors	3,710	15,155
Accruals and deferred income	9,607	24,419
Amounts owed to parent undertaking	2,688,662	2,393,798

	2,739,120	2,446,002

8. Share Capital

	31 July 2025	30 November 2024
	£	£
Allotted, Called up and fully paid	100	100

9. Controlling Parties

The company's immediate parent undertaking is Tenyks Inc .

The ultimate parent undertaking is Tenyks Inc (incorporated in United States). Its registered office is 1209 Orange Street, Wilmington, Delaware, 19801 .

Copies of the group accounts may be obtained from the company's registered office.

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		31 July 2025		30 November 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		4,204		6,309
Tangible Assets	5		15,624		17,131

			19,828		23,440
CURRENT ASSETS
Debtors	6	119,702		229,721
Cash at bank and in hand		27,914		92,643

		147,616		322,364
Creditors: Amounts Falling Due Within One Year	7	(2,739,120 )		(2,446,002 )

NET CURRENT ASSETS (LIABILITIES)			(2,591,504 )		(2,123,638 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,571,676 )		(2,100,198 )

NET LIABILITIES			(2,571,676 )		(2,100,198 )

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(2,571,776 )		(2,100,298 )

SHAREHOLDERS' FUNDS			(2,571,676)		(2,100,198)