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

The members have not required the company to obtain an audit of its financial statements for the year in question 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Tetra Energies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 57a Broadway, Leigh-on-Sea, Essex, SS9 1PE.

The priciple activity of the company is support services for the extraction of oil and gas.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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 current liabilities.

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.

Financial assets and liabilities are offset, with 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.

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.

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.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons (including directors) employed by the company during the year was:

The Company has no employees other than the Directors, who did not receive any remuneration.

The investments in subsidiary undertakings comprises a 100% holding of the equity shares (and voting rights) in Tetra Energy Alpha Ltd, Tetra Energy Beta Ltd and Tetra Energies Bahamas Ltd.

Tetra Energy Alpha Ltd was incorporated on 28 April 2022. The carrying value of Tetra Energy Alpha Ltd net of impairment is £1,000.

Tetra Energy Beta Ltd was incorporated on 29 April 2022. The carrying value of Tetra Energy Beta Ltd net of impairment is £1,000.

Tetra Energies Bahamas Ltd was incorporated on 16 April 2024. The carrying value of Tetra Energies Bahamas Ltd net of impairment is £nil.

During the year, the directors reviewed the carrying value of the company's investments, taking into account the subsidiary's performance, forecasts, and underlying net assets. Based on management's assessment, an impairment provision of £2,800 has been recognised against investments in subsidiaries due to lower than expected future cash flows arising from Tetra Energies Bahamas Ltd.

Amounts owed by group undertakings are interest free and repayable on demand.

The Other Creditor includes a Balance with Mobius Advisory Ltd which is a company held by a Director. Details of this related party transaction are included in Note 9.

The Other creditor includes a shareholder loan. Details of this related party transaction are included in Note 9.

A ordinary shares carry the following rights:

• Voting rights: One vote per share on a poll at general meetings of the Company.

• Dividends: Shares carry rights to participate in dividends

• Capital distributions: Shares carry rights to participate in a distribution

• Redemption rights: Shares are not redeemable and are not liable to be redeemed at the option of the Company or the holder.

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B ordinary shares carry the following rights:

• Voting rights: No voting rights

• Dividends: Shares carry rights to participate in dividends

• Capital distributions: Shares carry rights to participate in a distribution

• Redemption rights: Shares are not redeemable and are not liable to be redeemed at the option of the Company or the holder.

During the year ended 31 December 2024, a shareholder loan was converted into equity as follows:

On 20 December 2024, an outstanding shareholder loan balance of £7,150,000 was converted into 715 £1 B ordinary shares of £1 each, issued at a value of £10,000 per share. The conversion was effected in accordance with the terms agreed between the Company and the shareholder. No cash consideration was received.

The transaction resulted in an increase in share capital of £715 and an increase in equity reserve of £7,149,285 and a reduction in shareholder loan balance of £7,150,000.

The shareholder loan was unsecured, accrued interest at a rate of 5%, and repayable on demand prior to conversion.

On 30 June 2025, an outstanding shareholder loan balance of £344,671.95 was converted into 40 £1 B ordinary shares of £1 each, issued at a value of £9,847.77 per share. The conversion was effected in accordance with the terms agreed between the Company and the shareholder. No cash consideration was received.

The transaction resulted in an increase in share capital of £40 and an increase in equity reserve of £344,631.95 and a reduction in shareholder loan balance of £344,671.95.

The shareholder loan was unsecured, accrued interest at a rate of 5%, and repayable on demand prior to conversion.

During the year the Company made payments to Mobius Advisory Limited for consultancy services totalling £216,333 (2023: £40,000). Charles Wood is a director of Mobius Advisory Limited. The amount outstanding to be paid at the year end is £300 (2023: £300).

Included within other creditors is a commercial loan provided by company shareholder G Myles totalling £344,672 (2023: £2,205,288). Interest has been accrued on this loan at a rate of 5% per annum.

The Company has taken advantage of exemption, under paragraph 33.1A 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.

In the opinion of the Directors, there is no individual ultimate controlling party.