TYNCOFEX LTD

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—8
Profit and Loss Account	9
Statement of Comprehensive Income	10
Balance Sheet	11
Statement of Changes in Equity	12
Statement of Cash Flows	13
Notes to the Statement of Cash Flows	14
Notes to the Financial Statements	15—18

The directors present their strategic report for the year ended 31 December 2025.

Review of the Business

Tyncofex Ltd is a private company limited by share capital and incorporated in the England and Wales.

The company has not conducted any activity in the current year except paying for some expenses.

Tyncofex Ltd is authorised by the Financial Conduct Authority (FRN 901080) under the Payment Services Directive as an electronic money institution in the UK. The registered office address is: 17 Hanover Square, London, W1S 1BN.

Financial Key Performance indicators

The company did not trade during the year and only incurred professional expenses.

	2025	2024
	£	£
Revenue	Nil	Nil
Operating loss	(17,521)	(10,177)

Non-financial and sustainability information statement

The company has no trading activity except for some expenses, hence no such information.There are no environmental and employee matters to be disclosed.

Principal Risks and Uncertainties

The directors have identified the risks associated with the company as liquidity risk, operational risk and technology risk. The process of risk identification and management is addressed through a framework of policies, procedures and internal controls. All policies are subject to Board approval and on-going review by the management. Compliance with regulation, legal and ethical standards is a high priority for the company and the Board have put in place an appropriate governance structure to monitor this.

Liquidity risk

The risk is that the company (Tyncofex Ltd) will not be able to meet its financial obligations as they fall due. It is the company's approach to ensure, as far as possible, that it has sufficient liquidity to meet its liabilities as and when they fall due. The company ensures that it has sufficient cash to meet expected operational expenses.

Market risk

Market risk is the risk of any change in market conditions, such as foreign exchange rates, interest rates and commodity price that will affect the income of the Company or the value of its holdings of financial instruments. The objective of management is to manage and control market risk exposures within acceptable parameters, while optimising the profitability of the business.

Exchange rate risk

Balances of the company which are denominated in USD, Euro etc are translated into sterling at the exchange rate ruling at the balance sheet date and the company transactions in the profit and loss account are converted at the average rate for the year. Depending on the movement in exchange rate from one year to another can have an effect on the results for the year.

Capital Risk Management

The company's objectives when managing capital is to safeguard the company's ability to meet its obligations.

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TYNCOFEX LTD

Strategic Report (continued)

For The Year Ended 31 December 2025

Section 172(1) Statement

During the year, the Company did not trade and had no customers.

The directors have resolved to give up the company's legal licence with Financial Conduct Authority and to manage the company’s affairs with a view to an orderly closure of the company.

In complying with their duty under section 172(1) of the Companies Act 2006, the directors have acted in good faith to promote the success of the Company for the benefit of its shareholders by safeguarding the Company’s assets, controlling costs, and ensuring compliance with statutory and regulatory obligations.

Given the absence of trading activities, the directors consider that the Company’s impact on other stakeholders, including employees, customers, suppliers, the community, and the environment, was minimal during the year.

The directors have applied to cancel the company’s licence with Financial Conduct Authority and to dissolve the company.

On behalf of the board

Marina Bickovska

Director

28th January 2026

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TYNCOFEX LTD

Company No. 12271319

Directors' Report For The Year Ended 31 December 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2025.

Principal Activity

The company did not trade during the year. All services are regulated by the Financial Conduct Authority (FCA).

Dividends

There are no interim or final dividends.

Financial Instruments

Please see the strategic report for the financial risk management objectives and policies of the company.

Directors

The directors who held office during the year were as follows:

Marina Bickovska

Mihails Bickovskis

Streamlined Energy and Carbon Reporting

As the company is not large based on the numerical criteria, hence no Greenhouse gas emissions, energy consumption and energy efficiency action reporting is required.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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TYNCOFEX LTD

Directors' Report (continued)

For The Year Ended 31 December 2025

Independent Auditors

The auditors, DeanCoopers LLP, have indicated their willingness to continue in office if their services are need in the future.

On behalf of the board

Marina Bickovska

Director

28th January 2026

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Independent Auditor's Report

to the Members of

TYNCOFEX LTD

Independent Auditor's Report

Opinion

We have audited the financial statements of TYNCOFEX LTD for the year ended 31 December 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to Note 2.2 to the financial statements which explains that the directors intend to dissolve the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2.2.

Our opinion is not modified in respect of this matter.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

TYNCOFEX LTD

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Corporate governance statement

The Board of Directors is responsible for the overall governance of the Company. Due to limited operational activities and small expenses relative to the company’s size, it is decided to close the business, hence the financial statements have been prepared on a basis other than going concern. The board closely monitors the company’s financial position, ensures compliance with applicable laws, and maintains appropriate internal controls commensurate with the level of activity. Key risks relating to liquidity and continuity have been identified, and the board continues to evaluate strategic options to safeguard stakeholder interests.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities including fraud is detailed below:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, we considered the following:

...CONTINUED

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Independent Auditor's Report (continued)

to the Members of

TYNCOFEX LTD

Auditor's Responsibilities for the Audit of the Financial Statements - continued

the nature of the industry and sector, control environment and business performance;
the company's own assessment of the risks that irregularities may occur either as a result of fraud or error;
the results of our enquiries of management and members of the Board of Directors of their own identification and assessment of the risks of irregularities;
any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;
detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the following area:

The recognition of expenses.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, relevant regulators including the FCA and local taxation legislation.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations described above as having a direct effect on the financial statements;
enquiring of management and members of the Board of Directors concerning actual and potential litigation and claims;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

There are inherent limitations in our audit procedures described above. There is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. Auditing standards also limit the procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

TYNCOFEX LTD

Hafiz Khaliq ACA (Senior Statutory Auditor)

for and on behalf of DeanCoopers LLP , Statutory Auditor

28th January 2026

DeanCoopers LLP

Suite 4, Cranbrook House

61 Cranbrook Road

Ilford

Essex

IG1 4PG

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TYNCOFEX LTD

Profit and Loss Account

For The Year Ended 31 December 2025

Profit and Loss Account

		31 December 2025	31 December 2024
	Notes	£	£
Administrative expenses		(34,098 )	(3,634 )
Other operating income		16,577	(6,543 )

OPERATING LOSS AND LOSS FOR THE FINANCIAL YEAR		(17,521 )	(10,177 )

The notes on pages 14 to 18 form part of these financial statements.

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TYNCOFEX LTD

Statement of Comprehensive Income

For The Year Ended 31 December 2025

Statement of Comprehensive Income

	31 December 2025	31 December 2024
	£	£
LOSS FOR THE FINANCIAL YEAR	(17,521 )	(10,177 )
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	(17,521 )	(10,177 )

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TYNCOFEX LTD

Balance Sheet

As At 31 December 2025

Balance Sheet

Registered number: 12271319

		31 December 2025		31 December 2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	8	185		778
Cash at bank and in hand		364,134		297,032

		364,319		297,810
Creditors: Amounts Falling Due Within One Year	9	(9,339 )		(1,700 )

NET CURRENT ASSETS (LIABILITIES)			354,980		296,110

TOTAL ASSETS LESS CURRENT LIABILITIES			354,980		296,110

NET ASSETS			354,980		296,110

CAPITAL AND RESERVES
Called up share capital	11		302,245		302,245
Other reserves			126,093		49,702
Profit and Loss Account			(73,358 )		(55,837 )

SHAREHOLDERS' FUNDS			354,980		296,110

On behalf of the board

Marina Bickovska

Director

28th January 2026

The notes on pages 14 to 18 form part of these financial statements.

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TYNCOFEX LTD

Statement of Changes in Equity

For The Year Ended 31 December 2025

Statement of Changes in Equity

	Share Capital	Other reserves	Profit and Loss Account	Total
	£	£	£	£
As at 1 November 2024	302,245	-	(45,660 )	256,585
Loss for the period and total comprehensive income	-	-	(10,177 )	(10,177)

Capital contribution reserve	-	49,702	-	49,702

As at 31 December 2024 and 1 January 2025	302,245	49,702	(55,837 )	296,110


Loss for the year and total comprehensive income	-	-	(17,521 )	(17,521)

Capital contribution reserve	-	76,391	-	76,391

As at 31 December 2025	302,245	126,093	(73,358 )	354,980

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TYNCOFEX LTD

Statement of Cash Flows

For The Year Ended 31 December 2025

Statement of Cash Flows

		31 December 2025	31 December 2024
	Notes	£	£
Cash flows from operating activities
Net cash used in operations	1	(9,289 )	(11,085 )

Net cash used in operating activities		(9,289 )	(11,085 )

Cash flows from financing activities
Capital contribution reserve		76,391	-



Increase/(decrease) in cash and cash equivalents		67,102	(11,085 )
Cash and cash equivalents at beginning of year	2	297,032	308,117

Cash and cash equivalents at end of year	2	364,134	297,032

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TYNCOFEX LTD

Notes to the Statement of Cash Flows

For The Year Ended 31 December 2025

Notes to the Statement of Cash Flows

1. Reconciliation of loss for the financial year to cash used in operations

	31 December 2025	31 December 2024
	£	£
Loss for the financial year	(17,521 )	(10,177 )
Movements in working capital:
Decrease in trade and other debtors	593	1,392
Increase/(decrease) in trade and other creditors	7,639	(2,300 )

Net cash used in operations	(9,289 )	(11,085 )

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	31 December 2025	31 December 2024
	£	£
Cash at bank and in hand	364,134	297,032

3. Analysis of changes in net funds

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	297,032	67,102	364,134

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TYNCOFEX LTD

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

TYNCOFEX LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12271319 . The registered office is 17 Hanover Square , London , W1S 1BN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

As the company is not deemed to be a going concern, therefore the financial statements have been prepared on fair value basis in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors believe that the going concern basis is not appropriate as the company does not trade, hence the accounts are prepared on the basis other than going concern. The management has decided to dissolve the company.

2.3. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.4. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.5. Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are 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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a 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.

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

Financial assets and liabilities are offset and the net amount reported in the statement of financial position 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.

2.6. Provisions and Contingencies

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

...CONTINUED

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TYNCOFEX LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Provisions and Contingencies - continued

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

2.7. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

2.8. Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 2, the Directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised where the revision affects only that year, or in the year of the revision and future years where the revision affects both current and future years.

In preparing these financial statements, there are not judgments made by Directors.

2.9. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method

3. Other Operating Income

	31 December 2025	31 December 2024
	£	£
Other operating income	16,577	(6,543 )

	16,577	(6,543)

Other operating income relates to currency translation differences. The currency translation differences resulted due to the exchange of bank transactions from Euro to £ Sterling in GBP.

4. Operating Loss

The operating loss is stated after charging:

	31 December 2025		31 December 2024
	£		£

	As restated	As restated
Exchange differences	16,577	(6,543)
Audit fee	4,800	1,700
Non audit fee	1,512	800

The amount of exchange differences during the year was £16,577 {2024 -(£6,543)} - Please read note 7 to the accounts for the prior period adjustment.

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TYNCOFEX LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	31 December 2025	31 December 2024
	£	£
Audit Services
Audit of the company's financial statements	4,800	1,700


Other Services
Other non-audit services	1,512	800

6. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	31 December 2025	31 December 2024
Office and administration	2	2

	2	2

7. Prior Period Adjustment

The audit and non-audit fee for the last year was not stated in the last year's notes to accounts which is now stated. There are no other adjustments.

8. Debtors

	31 December 2025	31 December 2024
	£	£
Due within one year
Trade debtors	-	267
Other debtors	185	511

	185	778

9. Creditors: Amounts Falling Due Within One Year

	31 December 2025	31 December 2024
	£	£
Trade creditors	1	-
Amounts owed to group undertakings	3,026	-
Accruals and deferred income	6,312	1,700

	9,339	1,700

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TYNCOFEX LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

11. Share Capital

	31 December 2025	31 December 2024
Allotted, called up and fully paid	£	£
350,000 Ordinary Shares of £ 0.863557 each	302,245	302,245

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	31 December 2025	31 December 2024
	£	£
Not later than one year	555	-

	555	-

13. Post Balance Sheet Events

There is still no update about the cancellation of the licence application from Financial Conduct Authority.

14. Related Party Disclosures

During the year, the parent entity of Tyncofex Ltd has given £76,391 to the company (2024 - NIL) as a capital and it is included in the capital contribution reserve. This is not a loan.

Professional fee of £13,138 (2024 - Nil) was charged to the company by one of the directors in respect of services as director of Tyncofex Ltd. These are the only payments to directors.

15. Controlling Parties

The company's immediate parent undertaking is IC PAYMENT PTE. LTD . Company number: (202035062D)

The ultimate parent undertaking is IC PAYMENT PTE. LTD (incorporated in Singapore). Its registered office is 2 Kallang Avenue, 07-25 CT HUB, Singapore .

Copies of the group accounts may be obtained from the company's registered office.

The company's ultimate controlling party is NAGAYAMA KANAME by virtue of his interest in the share capital of IC PAYMENT PTE. LTD

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