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Registered number: 13567548 TETHERCELLS LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
TETHERCELLS LIMITED REGISTERED NUMBER: 13567548 BALANCE SHEET AS AT 30 NOVEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
CURRENT ASSETS |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 15,782 |  | 66,948 |
Cash at bank and in hand |  | 168,437 |  | 6,142 |
Creditors: amounts falling due within one year | 5 | (794,754) |  | (544,917) |
NET CURRENT LIABILITIES |  |  | (610,535) |  | (471,827)
NET LIABILITIES |  |  | (610,535) |  | (471,827)
CAPITAL AND RESERVES |  |  |  |  |
Called up share capital | 6 |  | 110 |  | 102
Share premium account |  |  | 990 |  | 198
Profit and loss account |  |  | (611,635) |  | (472,127)
|  |  | (610,535) |  | (471,827)
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr N Holmes
Director
Date: 11 February 2026
The notes on pages 2 to 4 form part of these financial statements. Page 1
TETHERCELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
1. | GENERAL INFORMATION
Tethercells Limited is a private company limited by shares and incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA. The Company's functional and presentational currency is GBP. Unless otherwise stated, figures are rounded to the nearest pound (£). 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | GOING CONCERN
The Company incurred a loss for the financial period and had net liabilities as at the year end. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from the shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due.
| 2.3 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.4 | CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.5 | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 2
TETHERCELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.6 | 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.
| 2.7 | INTEREST INCOME
Interest income is recognised in profit or loss using the effective interest method.
| 2.8 | TAXATION
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive 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.
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
4. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 13,339 | 66,320
| Prepayments and accrued income | 2,443 | 628
|  | 15,782 | 66,948
Page 3
TETHERCELLS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 215,000 | -
| Trade creditors | 3,124 | 5,920
| Other creditors | 572,610 | 532,162
| Accruals and deferred income | 4,020 | 6,835
|  | 794,754 | 544,917
| Other loans comprise unsecured loans repayable within 60 business days of a triggering event. The loans are repayable with interest equal to the principal amount. This interest is contingent and only recognised when the triggering event becomes probable.
6. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | ALLOTTED, CALLED UP AND FULLY PAID |  |
|  | 10,000 (2024 - 10,000) Ordinary shares of £0.01 each | 100 | 100
|  | 1,000 (2024 - 200) Ordinary Non-Voting shares of £0.01 each | 10 | 2
|  |  | 110 | 102
During the year, the Company issued 800 Ordinary Non-Voting £0.01 shares at a subscription price of £1 per share.
Page 4