1.
General Information
TESSELLATION ENTERPRISES UK LIMITED
is a private company, limited by shares, incorporated in England & Wales, registered number
02205716
. The registered office is 72 Newman Street, London, W1T 3EH.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment properties. The principal accounting policies adopted are set out below.
2.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3.
Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.4.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover represents agency fees receivable in respect of services provided to the 'Recipient', in accordance with a service agreement. The fees are calculated in accordance with the terms of the service agreement.
TESSELLATION ENTERPRISES UK LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.5.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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.
2.6.
Financial Instruments
The company has elected to apply the provisions of Section 11 'basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an interntion to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.7.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
TESSELLATION ENTERPRISES UK LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.9.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
4.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other debtors |
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| VAT |
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| Amounts owed by group undertakings |
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| Amounts owed by other participating interests | 3,631,431 | 3,879,896 | |
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5.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
|
- | |
| Other creditors |
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| Accruals and deferred income |
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| Amounts owed to other participating interests |
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TESSELLATION ENTERPRISES UK LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
7.
Other Commitments
Operating lease payments represent rentals payable by the company for property at 72 Newman Street payable to Fine Silver Investments Limited. The original lease was negotiated for a term of five years from 9 September 2021 to 8 September 2026, with rentals fixed during the lease term. A variation agreement was entered into on 30 August 2024, under which the annual rental was reduced to £44,160 from 9 September 2024 to 8 September 2026.
The lease was subsequently renewed for a further five-year period from 9 September 2026 to 8 September 2031, with annual rentals of £44,160.
The lease terms include provision for five-yearly rent reviews in accordance with prevailing market conditions.
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
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| Later than one year and not later than five years | - |
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The lease was subsequently renewed for a further five-year period from 9 September 2026 to 8 September 2031 at an annual rental of £44,160. The renewal was agreed after the reporting date and, accordingly, the related future lease payments are not included in the above commitments at 31 December 2025.
8.
Post Balance Sheet Events
There were no events after the balance sheet date which requires disclosure.
9.
Related Party Transactions
During the year, the company had transactions with other companies in the same group or companies under common control. No interest has been charged on these amounts.
At 31st December 2025 balance due from other related companies were as follows:
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Tessellation International Limited
|
655,312
|
484,064
|
|
|
PYE US Inc
|
2,724,137
|
2,919,610
|
|
|
Fine Silver Investments Limited
|
907,031
|
960,023
|
|
|
Guandong Esquel Textiles Company Ltd
|
263
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
263
|
|
|
4,286,743
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
4,363,960
|
At 31st December 2025 balance due to other related companies were as follows:
TESSELLATION ENTERPRISES UK LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Esquel Enterprises Ltd
|
3,546,267
|
3,621,774
|
During the year, Tessellation Enterprises UK Limited charged a service fee of £184,588 to Tessellation International Limited according to the terms of the service agreement.
The Company also paid rent of £44,160 to Fine Silver Investments Limited.
10.
Parent Company
The company is a wholly owned subsidiary of Tessellation International Limited, a company incorporated in Hong Kong.
The ultimate parent company is Espranto Holdings Limited, a company incorporated in British Virgin Islands.
11.
Audit Information
The auditor's report on the accounts of
TESSELLATION ENTERPRISES UK LIMITED
for the year ended 31 December 2025 was unqualified.
The auditor's report was signed by
William Tang
(Senior Statutory Auditor)
for and on behalf of
Accountant Tang Limited
, Statutory Auditor.
|
8 Farm Avenue
London
SW16 2UT
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