REGISTERED NUMBER: 14113838 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TESSERACT UK ACCESS II LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Y Wu

REGISTERED OFFICE:

7a Abbey Business Park

Monks Walk

Farnham

Surrey

GU9 8HT

REGISTERED NUMBER:

14113838 (England and Wales)

CURRENT ASSETS

Stocks

4,912,354

1,107,567

Debtors

4

5,021,690

13,601,062

9,934,044

14,708,629

CREDITORS

Amounts falling due within one year

5

9,933,946

14,728,408

NET CURRENT ASSETS/(LIABILITIES)

98

(19,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

98

(19,779

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2

)

(19,879

)

SHAREHOLDERS' FUNDS

98

(19,779

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 January 2026 and were signed by:

Y Wu - Director

1.	STATUTORY INFORMATION

Tesseract UK Access II Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents loan interest received from cryptocurrency lending activities during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Inventory

Inventories comprise of cryptocurrencies that are held at fair value less costs to sell as it is considered a more relevant measure of the company's performance as the company operates in an active market where sale of cryptocurrencies can be achieved at published prices and is a store of readily realisable value.

Financial instruments

The company enters into basic financial instruments and more specifically borrowing and lending instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

Foreign currencies

Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

5,018,230

13,601,062

Amounts owed by group undertakings

3,460

-

5,021,690

13,601,062

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

9,933,946

14,648,106

Amounts owed to group undertakings

-

80,302

9,933,946

14,728,408

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms 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.

The amounts due from related parties as at 31 Dec 2024 were as follows:

- Tesseract Group Oy - £3,460 (Dec 2023 - £80,302 owed to Group)

7.	ULTIMATE CONTROLLING PARTY

The director considers Tesseract Group Oy (incorporated in Finland) to be the Ultimate Controlling Party.

Tesseract Group Oy is the parent company in which Tesseract UK Access II Ltd is a member and for which consolidated financial statements are prepared. The registered office and principal place of business of Tesseract Group Oy is: Porkkalankatu 22 A, 00180 Helsinki, Finland.

8.	TAX RESIDENCY

The company has obtained a Certificate of Residency from the Finnish tax authorities and deems Finland to be the place of effective management. The company is considered tax resident in Finland and not the UK.