ACCOUNTS - Final Accounts

Registered number: 11992729

TACYT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2025

TACYT LIMITED

REGISTERED NUMBER: 11992729

BALANCE SHEET

AS AT 31 MAY 2025

		2025		2024
Note		£		£


CURRENT ASSETS
Debtors: amounts falling due within one year	4	11,360		14,339
Cash at bank and in hand		109,649		99,123
		121,009		113,462
Creditors: amounts falling due within one year	5	(643,564)		(598,849)
NET CURRENT LIABILITIES			(522,555)		(485,387)
TOTAL ASSETS LESS CURRENT LIABILITIES			(522,555)		(485,387)

NET LIABILITIES			(522,555)		(485,387)

CAPITAL AND RESERVES
Called up share capital	6	10,000	10,000
Profit and loss account		(532,555)	(495,387)
		(522,555)	(485,387)

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.

Page 1

TACYT LIMITED

REGISTERED NUMBER: 11992729

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2025

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:

Dr I M Tomlinson

Director

Date: 16 July 2026

The notes on pages 3 to 5 form part of these financial statements.

Page 2

TACYT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.	GENERAL INFORMATION

Tacyt Limited (formerly Tacyx Limited until 27 July 2022) is a private company limited by shares and incorporated in England and Wales. Its registered office is One Bartholomew, 1 Bartholomew Close, London, EC1A 7BL.

The Company's functional and presentational currency is GBP.

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 following principal accounting policies have been applied:

2.2

GOING CONCERN

The Company incurred a loss for the financial period and had net liabilities of £522,555 as at 31 May 2025 (31 May 2024 - £485,387).

The financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported to date are consistent with the Company's business plan as it progresses its research and development activities.

Given the development progress achieved, the director has a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the foreseeable future and therefore continues to adopt the going concern basis.

2.3

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.

2.4

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

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.

2.6

RESEARCH AND DEVELOPMENT

Research and development expenditure is recognised in the Profit and Loss Account in the period in
which the expenditure is incurred.

Page 3

TACYT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.7

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.8

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

4.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

					2025	2024
					£	£


Other debtors	11,360	14,339
	11,360	14,339

Page 4

TACYT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	-	3,535
Other creditors	640,064	591,814
Accruals	3,500	3,500
	643,564	598,849

6.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

1,000,000 Ordinary shares shares of £0.01 each	10,000	10,000

Page 5