Company Registration No. 09702676 (England and Wales)
TNQ Technologies Limited
Financial statements
for the year ended 31 March 2025
Pages for filing with the registrar
TNQ Technologies Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
TNQ Technologies Limited
Statement of financial position
As at 31 March 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,912,179
4,990,373
Current assets
Debtors
5
150,144
67,848
Cash at bank and in hand
96,444
105,069
246,588
172,917
Creditors: amounts falling due within one year
6
(181,839)
(197,936)
Net current assets/(liabilities)
64,749
(25,019)
Net assets
4,976,928
4,965,354
Capital and reserves
Called up share capital
7
2,226,000
2,226,000
Share premium account
8
2,536,780
2,536,780
Profit and loss reserves
214,148
202,574
Total equity
4,976,928
4,965,354

The director of the company has elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 19 September 2025.
Yakov Chandy
Director
Company Registration No. 09702676
TNQ Technologies Limited
Notes to the financial statements
For the year ended 31 March 2025
2
1
Accounting policies
Company information

TNQ Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company meets its day to day working capital requirements by recharging its costs under the terms of a services agreement to a related party by common shareholding (TNQ Tech Private Limited). true At the time of approving the financial statements, the director ha s a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has considered the impacts of global economic events and considered financial projections for future periods.

The company has also received written confirmation from the parent company of its continuing financial support for at least 12 months from signing of the financial statements. Therefore, the director is confident in the company's ability to continue trading and thus, continue s to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the recharge of the costs plus a mark up incurred by the company in accordance with the Services Agreements entered into with TNQ Tech Private Limited and TNQ Technologies Private Limited.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
Buildings will be depreciated over 50 years on a straight line basis
Plant and machinery
Over 3 years on a straight line basis
Fixtures, fittings & equipment
Over 6 years on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

TNQ Technologies Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
3
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 statement of financial position when the company becomes party to the contractual provisions 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 intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

TNQ Technologies Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
4
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

TNQ Technologies Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
5
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Critical accounting judgements and key sources of estimation uncertainty

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.

Residential property

The key sources of estimation are the potential impairment of the property. The company carries the property at cost less accumulated depreciation and impairment losses, with depreciation and impairments being recognised in profit or loss, in accordance with the cost model.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2024: 4).

TNQ Technologies Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
6
4
Tangible fixed assets
Land and buildings
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
£
Cost
At 1 April 2024 and 31 March 2025
4,895,260
2,463
225,897
5,123,620
Depreciation and impairment
At 1 April 2024
68,127
2,034
63,086
133,247
Depreciation charged in the year
40,115
429
37,650
78,194
At 31 March 2025
108,242
2,463
100,736
211,441
Carrying amount
At 31 March 2025
4,787,018
-
0
125,161
4,912,179
At 31 March 2024
4,827,133
429
162,811
4,990,373
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by connected group entities
150,144
67,848
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
38,907
42,678
Corporation tax
40,990
40,123
Other creditors
101,942
115,135
181,839
197,936
7
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
2,226,000 Ordinary shares of £1 each
2,226,000
2,226,000
TNQ Technologies Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
7
8
Share premium account

The reserve represents consideration received for shares issued above their nominal value net of transaction costs.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Tom Alun-Jones.
The auditor was Saffery LLP.
10
Parent company

The immediate parent company is TNQ Technologies Private Ltd, a company incorporated in India. The ultimate controlling party is Ms Mariam Ram.

The registered office of TNQ Technologies Private Ltd can be found at:

Imperial Building

B Block, 3rd Floor, Door No's 509, 510 & 510A

Teynampet, Chennai 600018

Tamil Nadu, India

11
Related party transactions

During the year, the director incurred expenses of £nil on behalf of the company. As at 31 March 2025 the company was owed the director £nil (2024: £1,603).

Following the company's purchase of the property, the company entered into a rent free arrangement with the director, whereby he could live at the property and be charged £nil rent, from when the property was brought into use.

During the year, the director was repaid £33,182 (2024 : made payments of £55,657 and was repaid £158,666) by the company. This loan is unsecured, interest free and repayable on 31 January 2026. As at 31 March 2025 the company owed the director £44,809 (2024: £77,991) in respect of this loan. This is disclosed within other creditors showing as due within one year due to the repayment terms.

The company has recharged management expenses to a company which is connected by way of common shareholders with the parent company. The amounts recharged in the year was £628,810 (2024: £125,386). As at 31 March 2025 the company was owed £18,458 (2023: £nil).

The company has taken advantage of the exemption in Financial Reporting Standard 102 Section 1A from the requirement to disclose related party transactions with companies that are wholly owned within the group. The balances outstanding at the year end are disclosed in Note 6.

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