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Registered number: 05895499 TELLURIAN CAPITAL SERVICES LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
|  | REGISTERED NUMBER:05895499
TELLURIAN CAPITAL SERVICES LIMITED BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 4 |  | 125,761 |  | 125,761
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 1,196 |  | 5,152 |
|  | 1,196 |  | 5,152 |
Creditors: amounts falling due within one year | 6 | (31,046) |  | (23,766) |
Net current liabilities |  |  | (29,850) |  | (18,614)
Total assets less current liabilities |  |  | 95,911 |  | 107,147
Creditors: amounts falling due after more than one year | 7 |  | (8,014) |  | (17,554)
Net assets |  |  | 87,897 |  | 89,593
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 93,285 |  | 93,285
Profit and loss account |  |  | (5,388) |  | (3,692)
|  |  | 87,897 |  | 89,593
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|  | REGISTERED NUMBER:05895499
TELLURIAN CAPITAL SERVICES LIMITED BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 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 on 31 March 2026.
J M Bonnefous
Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
TELLURIAN CAPITAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Tellurian Capital Services Limited is a private limited company incorporated in the UK and registered in England and Wales. Its registered office is 16 Great Queen Street, London WC2B 5AH. Its place of business is 91 Wimpole Street, London, W1G 0EF. 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
| 2.2 | Going concern
At the balance sheet date the company has net current liabilities of £29,850. The company is reliant on the support of its shareholder and indirectly on Tellurian Capital Management LLP ('the LLP'), a partnership which the company is a corporate member of, and which has paid the company's suppliers and loan providers on its behalf. At the date of these accounts, the members intend to support the LLP and, by extension, the company for the foreseeable future and accordingly, the director considers it appropriate to prepare the accounts on a going concern basis. Page 3
TELLURIAN CAPITAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.6 | Financial instruments
The Company only enters into basic financial instrument 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 related parties and investments in ordinary shares.
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
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TELLURIAN CAPITAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Fixed asset investments
|  | Investments
|  | £
| Cost |
| At 1 January 2024 | 125,761
| At 31 December 2024 | 125,761
| Net book value |
| At 31 December 2024 | 125,761
| At 31 December 2023 | 125,761
| The company owns a £125,761 (2023: £125,761) share in Tellurian Capital Management LLP, a Limited Liability Partnership registered in the United Kingdom. At 30 December 2024, Tellurian Capital Services Limited held 25% (2023: 25%) of the members' capital in Tellurian Capital Management LLP.
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 546 | 546
| Amounts owed by related undertakings | - | 3,956
| Other debtors | 650 | 650
|  | 1,196 | 5,152
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 9,540 | 9,458
| Amounts owed to group undertakings | 5,698 | -
| Other creditors | 10,558 | 10,558
| Accruals and deferred income | 5,250 | 3,750
|  | 31,046 | 23,766
Page 5
TELLURIAN CAPITAL SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 8,014 | 17,554
|  | 8,014 | 17,554
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