Company No: 09357344 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	30,308		0
Tangible assets	4	0		1,003
Investments	5	40		40
		30,348		1,043
Current assets
Debtors	6	60,327		63,327
Cash at bank and in hand		645		31,382
		60,972		94,709
Creditors: amounts falling due within one year	7	( 68,265)		( 61,733)
Net current (liabilities)/assets		(7,293)		32,976
Total assets less current liabilities		23,055		34,019
Net assets		23,055		34,019
Capital and reserves
Called-up share capital	8	1,000		1,000
Profit and loss account		22,055		33,019
Total shareholders' funds		23,055		34,019

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.

Director's responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Tempest Ventures Limited (registered number: 09357344) were approved and authorised for issue by the Director. They were signed on its behalf by:

P J Bromwich Director

30 September 2025

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

Tempest Ventures 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 Walbrook Wharf, 78-83 Upper Thames Street, London, EC4R 3TD, 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

The company made a loss in the year of £8,873 and has net current liabilities of £5,202. Included within creditors due within one year are amounts owed from companies under common control of £64,994. The company has confirmed they will not seek repayment of the existing loan within 12 months from the date of the approval of the financial statements.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Based on all of the above, the director believes it is appropriate to continue to use the going concern basis for the preparation of the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Cryptocurrency assets are recognised as intangible assets under FRS 102, measured using the revaluation model due to the existence of an active market. Assets are carried at fair value at the reporting date, with revaluation gains recognised in other comprehensive income and accumulated in a revaluation reserve. Losses are recognised in other comprehensive income to the extent of prior gains, with any excess charged to profit or loss.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Other intangible assets

not amortised

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:

Office equipment

3 years straight line

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	1		1

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	0		0
Additions	94,034		94,034
Revaluations	( 7,830)		( 7,830)
Disposals	( 55,896)		( 55,896)
At 31 December 2024	30,308		30,308
Accumulated amortisation
At 01 January 2024	0		0
At 31 December 2024	0		0
Net book value
At 31 December 2024	30,308		30,308
At 31 December 2023	0		0

4. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 January 2024	4,250		4,250
At 31 December 2024	4,250		4,250
Accumulated depreciation
At 01 January 2024	3,247		3,247
Charge for the financial year	1,003		1,003
At 31 December 2024	4,250		4,250
Net book value
At 31 December 2024	0		0
At 31 December 2023	1,003		1,003

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	40
At 31 December 2024	40
Carrying value at 31 December 2024	40
Carrying value at 31 December 2023	40

6. Debtors

	2024		2023
	£		£
Corporation tax	292		292
Other debtors	60,035		63,035
	60,327		63,327

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Taxation and social security	2,091		0
Other creditors	66,174		61,733
	68,265		61,733

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

9. Related party transactions

Transactions with the entity's director

Included within other creditors are amounts owed to the director of £Nil (2023: £15,638). £15,638 was repaid in the year.

Other related party transactions

Included within other creditors are amounts of £64,994 (2023: £44,603) owed to a company under common control. Included within interest payable is an amount of £3,212 (2023: £19) owed to the same company under common control.

Included within other debtors are amounts of £59,035 (2023: £59,035) owed from a company under common control.

Included within other debtors are amounts of £1,000 (2023: £1,000) owed from the shareholders.