ACCOUNTS - Final Accounts

Registered number: SC534765

INTELLIQUIP EUROPE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

INTELLIQUIP EUROPE LIMITED

COMPANY INFORMATION

DIRECTORS	J. Mills
	M. Sabin

REGISTERED NUMBER	SC534765


REGISTERED OFFICE	272 Bath Street
	Glasgow
	G2 4JR


INDEPENDENT AUDITORS	Wilder Coe Ltd
	Chartered Accoutants & Statutory Auditors
	1st Floor, Sackville House
	143-149 Fenchurch Street
	London
	EC3M 6BL

INTELLIQUIP EUROPE LIMITED

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 5

INTELLIQUIP EUROPE LIMITED

REGISTERED NUMBER: SC534765

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£


CURRENT ASSETS
Debtors: amounts falling due within one year	4	65,977		61,906
Creditors: amounts falling due within one year	5	(123,968)		(119,897)

NET LIABILITIES			(57,991)		(57,991)

CAPITAL AND RESERVES
Allotted, called up and fully paid share capital	100	100
Profit and loss account	(58,091)	(58,091)
EQUITY SHAREHOLDERS' DEFICIT	(57,991)	(57,991)

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.

The Company has opted not to file the statement of income and retained earnings 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 on
19 June 2026.

J. Mills

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

INTELLIQUIP EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	GENERAL INFORMATION

Intelliquip Europe Ltd (company number: SC534765), having its registered and trading office at 272 Bath Street, Glasgow, Scotland, G2 4JR is a private limited company incorporated in England and Wales.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

STATEMENT OF CASH FLOWS

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.

2.3

GOING CONCERN

The Company broke even during both the current year and the prior year and has a net deficit of £57,991. The Company no longer has a trade and will remain in operation until all debts are received and liabilities paid.

The accounts have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

2.4

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

2.5

DEBTORS

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

Page 2

INTELLIQUIP EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.6

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Short-term creditors are measured at the transaction price.

2.7

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from and to related parties.

Debt instruments that are payable or receivable within one year, typically trade creditors and debtors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be paid or recieved.

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

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

2.8

FOREIGN CURRENCY TRANSLATIONS

Functional and presentation currency

The Company's functional and presentational currency is British Pound Sterling (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. Non-monetary 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 the Statement of Income and Retained Earnings.

Page 3

INTELLIQUIP EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.9

TAXATION

Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

3.	EMPLOYEES
	The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

DEBTORS

					2025	2024
					£	£


Amounts owed by group undertakings	65,977	61,906

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

Amounts owed to group undertakings	119,168	115,277
Accruals and deferred income	4,800	4,620
	123,968	119,897

Page 4

INTELLIQUIP EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

6.	RELATED PARTY TRANSACTIONS
	The Company has taken advantage of the exemption available in accordance with Section 33 of Financial Reporting Standard 102 not to disclose transactions entered into between two or more members of the group, as the Company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

7.	CONTROLLING PARTY

The Company is controlled by Intelliquip Inc, a company registered in the United States of America, by virtue of its shareholding.

The ultimate controlling party is AQ Software, LLC, a company registered in the United States of America.

8.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report in relation to going concern, referring to accounting policy 2.3.

The audit report was signed on 22 June 2026 by Caryl King BSc ACA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.

Page 5