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Registered number: 07065004 TEQUILAS OF MEXICO LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
TEQUILAS OF MEXICO LIMITED REGISTERED NUMBER: 07065004 BALANCE SHEET AS AT 30 NOVEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 539 |  | 624
Tangible assets | 5 |  | - |  | -
|  |  | 539 |  | 624
Current assets |  |  |  |  |
Stocks |  | 33,000 |  | 24,000 |
Debtors: amounts falling due within one year | 6 | 53,471 |  | 128,068 |
Cash at bank and in hand | 7 | 6,648 |  | 62,892 |
|  | 93,119 |  | 214,960 |
Creditors: amounts falling due within one year | 8 | (70,799) |  | (69,962) |
Net current assets |  |  | 22,320 |  | 144,998
Creditors: amounts falling due after more than one year | 9 |  | (22,159) |  | (28,143)
Net assets |  |  | 700 |  | 117,479
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 699 |  | 117,478
|  |  | 700 |  | 117,479
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TEQUILAS OF MEXICO LIMITED REGISTERED NUMBER: 07065004 BALANCE SHEET (CONTINUED) AS AT 30 NOVEMBER 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 by:
C Rocos
Director
Date: 14 August 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
TEQUILAS OF MEXICO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
1. | General information
Tequilas of Mexico Limited ("the Company") is a private company, limited by shares and incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA. The principal activity of the Company was that of the importation, distribution and promotion of Tequila and associated products. 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 | 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. 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 comprehensive income 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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'. Page 3
TEQUILAS OF MEXICO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.3 | 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.
| 2.4 | Interest income
Interest income is recognised in the Statement of income and retained earnings using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Borrowing costs
All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income 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. Page 4
TEQUILAS OF MEXICO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.8 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Trademarks | - | 10 | years
| 2.9 | 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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 33% |
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 the Statement of income and retained earnings.
| 2.10 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of income and retained earnings.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.12 | 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. Page 5
TEQUILAS OF MEXICO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.13 | 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.
| 2.14 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
4. | Intangible assets
|  | Trademarks
|  | £
| Cost |
| At 1 December 2024 | 851
| At 30 November 2025 | 851
| Amortisation |
| At 1 December 2024 | 227
| Charge for the year on owned assets | 85
| At 30 November 2025 | 312
| Net book value |
| At 30 November 2025 | 539
| At 30 November 2024 | 624
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TEQUILAS OF MEXICO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
5. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost or valuation |
| At 1 December 2024 | 727
| At 30 November 2025 | 727
| Depreciation |
| At 1 December 2024 | 727
| At 30 November 2025 | 727
| Net book value |
| At 30 November 2025 | -
| At 30 November 2024 | -
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TEQUILAS OF MEXICO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 40,008 | 127,503
| Other debtors | 13,463 | 565
|  | 53,471 | 128,068
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 6,648 | 62,892
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,983 | 5,835
| Trade creditors | 25,090 | -
| Corporation tax | - | 36,687
| Other taxation and social security | 71 | 730
| Other creditors | 1,092 | 8,930
| Accruals and deferred income | 38,563 | 17,780
|  | 70,799 | 69,962
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 22,159 | 28,143
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TEQUILAS OF MEXICO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 5,983 | 5,835
| Amounts falling due 1-2 years |  |
| Bank loans | 6,134 | 5,983
| Amounts falling due 2-5 years |  |
| Bank loans | 16,025 | 18,873
| Amounts falling due after more than 5 years |  |
| Bank loans | - | 3,287
|  | 28,142 | 33,978
11. | Related party transactions
| As at the year end the company owed the director £259 (2024 : £8,496).
Page 9