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# QUESTDB LIMITED

## Company Registration Number:
12149461 (England and Wales)

## Unaudited abridged accounts for the year ended 31 December 2025

## Period of accounts

## Start date: 01 January 2025

## End date: 31 December 2025

# QUESTDB LIMITED

## Contents of the Financial Statements

for the Period Ended 31 December 2025

Balance sheet |
Notes |

# QUESTDB LIMITED

## Balance sheet

As at 31 December 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Tangible assets: | 3 | 16,691 | 17,874
Total fixed assets: |  | 16,691 | 17,874
Current assets
Debtors: | 4 | 932,328 | 200,687
Cash at bank and in hand: |  | 88,060 | 122,889
Total current assets: |  | 1,020,388 | 323,576
Creditors: amounts falling due within one year: |  | (56,030) | (32,073)
Net current assets (liabilities): |  | 964,358 | 291,503
Total assets less current liabilities: |  | 981,049 | 309,377
Creditors: amounts falling due after more than one year: |  | (7,240,152) | (4,856,414)
Total net assets (liabilities): |  | (6,259,103) | (4,547,037)
Capital and reserves
Called up share capital: |  | 166 | 166
Share premium account: |  | 4,110,888 | 4,110,888
Profit and loss account: |  | (10,370,157) | (8,658,091)
Shareholders funds: |  | (6,259,103) | (4,547,037)

The notes form part of these financial statements

# QUESTDB LIMITED

## Balance sheet statements

For the year ending 31 December 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 April 2026
and signed on behalf of the board by:

Name: Nic Hourcard
Status: Director

The notes form part of these financial statements

# QUESTDB LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

## Turnover policy

REVENUE Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: SALE OF GOODS Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably. RENDERING OF SERVICES Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably. GOVERNMENT GRANTS Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

## Tangible fixed assets and depreciation policy

TANGIBLE FIXED ASSETS Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis: - Office equipment at 25% Reducing balance method The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

## Other accounting policies

GOING CONCERN The financial statements have been prepared on the going concern basis. The Company has net liabilities of £6,259,103 as at 31 December 2025 and incurred a loss of £1,712,066 for the year. The Company is funded by its parent company, QuestDB Technology Inc., through an interest-free intercompany loan facility which expires on 31 December 2028. The Directors consider this funding to be quasi-equity in nature, and the parent company has confirmed its intention to continue to provide financial support to the Company for the foreseeable future. Subsequent to the year end, a portion of the intercompany loan was converted to equity (see note 11 - Post balance sheet events). On this basis, the Directors consider it appropriate to prepare the financial statements on a going concern basis. FOREIGN CURRENCY TRANSLATION Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. PENSIONS The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. DEBTORS Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. 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. 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.

# QUESTDB LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 2. Employees

| 2025 | 2024
--- | --- | ---
Average number of employees during the period | 8 | 7

# QUESTDB LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 3. Tangible Assets

| Total
--- | ---
Cost | £
At 01 January 2025 | 49,362
Additions | 4,962
Disposals | (2,449)
At 31 December 2025 | 51,875
Depreciation |
At 01 January 2025 | 31,488
Charge for year | 5,564
On disposals | (1,868)
At 31 December 2025 | 35,184
Net book value |
At 31 December 2025 | 16,691
At 31 December 2024 | 17,874

# QUESTDB LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 4. Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Debtors due after more than one year: | 874,074 | 145,402

# QUESTDB LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 5. Financial commitments

The pension cost charge represents contributions payable by the Company and amounted to £23,794 (2024: £18,219). Contributions totalling £7,909 (2024: £5,670) were payable at the balance sheet date and are included in Other creditors.

# QUESTDB LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 6. Related party transactions

Name of the related party: | Vlad Ilyushchenko
Relationship: | Director
Description of the Transaction: | Director loan to the Company.
£
Balance at 01 January 2025 |  | 10
Balance at 31 December 2025 |  | 10

Name of the related party: | Nic Hourcard
Relationship: | Director
Description of the Transaction: | Director loan to the Company.
£
Balance at 01 January 2025 |  | 8
Balance at 31 December 2025 |  | 8

# QUESTDB LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2025

## 7. Post balance sheet events

Subsequent to the year end, on 16 March 2026, the Company issued 1 ordinary share at a price of £6,300,000 to QuestDB Technology Inc., the Company's parent undertaking. The subscription was settled by offsetting against the intercompany loan payable. Following this transaction, the Company's net liability position reduced to approximately £40,897, resulting in a positive net asset position.