MANUKA AI LIMITED


Directors	ACKERMAN, Mark
	DEMPSEY, David
	FIDDAMAN, Robert John
	MARTIN, Gareth
	MCCANNON, Michael


Registered Address	100 Cathedral Approach
	Salford
	M3 7FB


Registered Number	10403421 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Current assets
Debtors	3	759,466		288,216
Cash at bank and on hand		741,249		213,648
		1,500,715		501,864
Prepayments and accrued income		80,759		83,458
Creditors amounts falling due within one year	4	(641,603)		(320,406)
Net current assets (liabilities)			939,871		264,916
Total assets less current liabilities			939,871		264,916
Creditors amounts falling due after one year	5		(1,907,367)		(101,360)
Net assets			(967,496)		163,556
Capital and reserves
Called up share capital			25		17
Share premium			2,230,369		1,604,679
Profit and loss account			(3,197,890)		(1,441,140)
Shareholders' funds			(967,496)		163,556

The company was entitled to exemption from audit for this reporting period 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.
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 and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 21 September 2026, and are signed on its behalf by:

MCCANNON, Michael
Director
Registered Company No. 10403421

MANUKA AI LIMITED

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Related parties
	During the year, the Company entered into transactions with Tquila ILP, an Irish investment limited partnership, acting on behalf of Tquila Fund of Founders, a sub-fund of Tquila ILP, in respect of Convertible loan notes. The aggregate value of these transactions during the year was £1,850,000 (2024: £0).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	23		17

3.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	598,280	171,261
Other debtors	90,535	600
Prepayments and accrued income	70,651	116,355
Total	759,466	288,216


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. During the year, the company made advances to a director amounting to £89,824 (2024: £0). The balance is repayable on 31 December 2028, and the advances are interest-free.

Short term debtors are measured at transaction price (which is usually the invoice price), less any
impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised
at transaction price including any transaction costs and subsequently measured at amortised cost
determined using the effective interest method, less any impairment losses for bad and doubtful debts.  
During the year, the company made advances to a director amounting to £89,824 (2024: £0). The balance is repayable on 31 December 2028, and the advances are interest-free.

4.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	358,703	184,761
Taxation and social security	113,830	93,998
Other creditors	4,874	-
Accrued liabilities and deferred income	164,196	41,647
Total	641,603	320,406


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

5.	Creditors: amounts due after one year

	2025	2024
	£	£
Trade creditors / trade payables	-	100,000
Convertible loans	1,907,367	1,360
Total	1,907,367	101,360


	At the balance sheet date, an amount of £1,907,367 (2024: £0) was due to Tquila ILP. The balance is unsecured, bears interest at 8% per annum and is repayable in accordance with the agreed terms. The directors consider that the carrying amount of the liability approximates to its fair value.

6.	Parent-subsidiary relationships
	The Company's immediate parent undertaking is Tquila ILP, an Irish investment limited partnership, acting on behalf of Tquila Fund of Founders, a sub-fund of Tquila ILP, which holds 65.89% of the Company's issued ordinary share capital.