Company No: 14067108 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	M E Hinchliffe (Appointed 08 November 2024)
	H C V Lim
	C X Tan

SECRETARY

Oakwood Corporate Secretary Limited

REGISTERED OFFICE	3rd Floor 1 Ashley Road
	Altrincham
	Cheshire
	WA14 2DT
	United Kingdom

COMPANY NUMBER

14067108 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	3,221		4,312
		3,221		4,312
Current assets
Debtors	4	155,776		6,172
Cash at bank and in hand		3,517		35,247
		159,293		41,419
Creditors: amounts falling due within one year	5	( 2,084,142)		( 1,022,157)
Net current liabilities		(1,924,849)		(980,738)
Total assets less current liabilities		(1,921,628)		(976,426)
Net liabilities		( 1,921,628)		( 976,426)
Capital and reserves
Called-up share capital		100,000		100,000
Profit and loss account		( 2,021,628 )		( 1,076,426 )
Total shareholder's deficit		( 1,921,628)		( 976,426)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Tessaract Technologies UK Limited (registered number: 14067108) were approved and authorised for issue by the Board of Directors on 26 September 2025. They were signed on its behalf by:

M E Hinchliffe Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tessaract Technologies UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3rd Floor 1 Ashley Road, Altrincham, Cheshire, WA14 2DT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this period.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment

3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		3

3. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 January 2024	7,065		7,065
Additions	1,540		1,540
At 31 December 2024	8,605		8,605
Accumulated depreciation
At 01 January 2024	2,753		2,753
Charge for the financial year	2,631		2,631
At 31 December 2024	5,384		5,384
Net book value
At 31 December 2024	3,221		3,221
At 31 December 2023	4,312		4,312

4. Debtors

	2024		2023
	£		£
Trade debtors	58,958		0
Prepayments	3,011		5,757
Corporation tax	93,807		0
Other debtors	0		415
	155,776		6,172

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	233		29,806
Amounts owed to Group undertakings	1,843,289		925,476
Accruals and deferred income	172,512		42,954
Other taxation and social security	27,613		0
Other creditors	40,495		23,921
	2,084,142		1,022,157

6. Ultimate controlling party

The ultimate parent company is Intersellar Group PTE. LTD. a company registered in Singapore.