ACCOUNTS - Final Accounts preparation

Registered number: 14288913

TEN ELEVEN VENTURES UK, LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

TEN ELEVEN VENTURES UK, LTD

CONTENTS

	Page
Company information	1
Balance sheet	2
Notes to the financial statements	3 - 6

TEN ELEVEN VENTURES UK, LTD

COMPANY INFORMATION

Director	D J Palmer


Company secretary	IQ EQ Secretaries (UK) Limited


Registered number	14288913


Registered office	4th Floor 3 More London Riverside
	London
	SE1 2AQ


Accountants	Blick Rothenberg Limited
	Chartered Accountants
	16 Great Queen Street
	Covent Garden
	London
	WC2B 5AH

Page 1

REGISTERED NUMBER:14288913

TEN ELEVEN VENTURES UK, LTD

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	229,293		79,906
Cash at bank and in hand		188,062		313,766
		417,355		393,672
Creditors: amounts falling due within one year	5	(181,861)		(226,788)
Net assets			235,494		166,884

Capital and reserves
Called up share capital	6	100	100
Profit and loss account		235,394	166,784
Total equity		235,494	166,884

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 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 signed by the sole director:

D J Palmer

Director

Date: 11 June 2026

The notes on pages 3 to 6 form part of these financial statements.

Page 2

TEN ELEVEN VENTURES UK, LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Ten Eleven Ventures UK, Ltd is a private company limited by shares incorporated in England and Wales. The address of its registered office is 4th Floor 3 More London Riverside, London, SE1 2AQ.

The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. The director has received written assurances of the continued support of Ten Eleven Ventures LLC, confirming the continued support to the company for the foreseeable future being a period of 12 months from the date the financial statements were approved. The director has reviewed the financial position and forecasts of Ten Eleven Ventures LLC and believes it is likely that Ten Eleven Ventures LLC will be able to provide the support offered. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

Revenue from contracts to provide services to the parent company is recognised in the period in which the services are provided. Revenue is recognised to the extent that it is probable that the company will receive the consideration due under contract and the amount of revenue can be measured reliably. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax.

2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

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.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

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TEN ELEVEN VENTURES UK, LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

Financial instruments (continued)

Financial assets

Basic financial assets, including other debtors and bank balances, intercompany financing, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

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TEN ELEVEN VENTURES UK, LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

Financial instruments (continued)

Derecognition of financial assets and financial liabilities

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

2.5

Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Share capital

Ordinary shares are classified as equity.

2.7

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.8

Current tax

The tax expense for the year comprises current tax. Tax is recognised in the profit and loss account, 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.

Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.

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.

Page 5

TEN ELEVEN VENTURES UK, LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

Debtors

					2025	2024
					£	£

Amounts owed by group undertakings	215,708	67,025
Other debtors	7,001	6,597
Prepayments and accrued income	6,584	6,284
	229,293	79,906

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

5.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Trade creditors	3,300	3,205
Corporation tax	22,186	23,965
Other creditors	150,075	193,618
Accruals	6,300	6,000
	181,861	226,788

6.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

7.	Related party transactions
	The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.

8.	Parent company

The parent company is Ten Eleven Ventures, LLC., a limited liability company incorporated in The United States of America. The address of its registered office address is 345 Lorton Ave, Suite 401 Burlingame CA 94010.

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