General Information
Tesseract Financial Ltd is a private company, limited by shares, registered in England and Wales, registration number 11832222, registration address 3 Granville Mews, 22a Alum Chine Road,, Bournemouth, Dorset, BH4 8DX.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
25% Straight Line
|
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2025 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Computer Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 March 2025 |
4,182 |
|
4,182 |
| Additions |
399 |
|
399 |
| Disposals |
- |
|
- |
| At 28 February 2026 |
4,581 |
|
4,581 |
| Depreciation |
| At 01 March 2025 |
3,167 |
|
3,167 |
| Charge for year |
611 |
|
611 |
| On disposals |
- |
|
- |
| At 28 February 2026 |
3,778 |
|
3,778 |
| Net book values |
| Closing balance as at 28 February 2026 |
803 |
|
803 |
| Opening balance as at 01 March 2025 |
1,015 |
|
1,015 |
|
| 4. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Corporation Tax |
11,816 |
|
14,669 |
| PAYE & Social Security |
932 |
|
0 |
| Directors' Current Accounts |
50 |
|
26 |
|
12,798 |
|
14,695 |
|
| 5. |
Provisions for liabilities
|
2026
£ |
|
2025
£ |
| Deferred Tax |
162 |
|
214 |
|
162 |
|
214 |
|
| 6. |
Share Capital
Allotted, called up and fully paid
|
2026
£ |
|
2025
£ |
|
1
Ordinary share of £1.00 each |
1 |
|
1 |
|
1 |
|
1 |
|
|
Mr C Miles
| Particulars |
|
2026
£ |
|
2025
£ |
| Opening Balance |
|
(26) |
|
1,398 |
| Advances to director |
|
288 |
|
288 |
| Repayments by director |
|
(312) |
|
(1,712) |
| Closing Balance |
|
(50) |
|
(26) |
The loan was interest free and repayable on demand.
|
| 8. |
Dividend
During the year, total dividend of £42,765 (2025 - £54,089) were paid to the director.
|
3
|