TQ IMA LIMITED


Directors	ACKERMAN, Mark
	CLAGUE, Jonathan David
	MCCANNON, Michael


Registered Address	2d Zetland House
	5-25 Scrutton Street
	London
	EC2A 4HJ


Registered Number	15523381 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		10,475		-
			10,475		-
Current assets
Debtors	4	1,571,285		43,001
Cash at bank and on hand		681,874		70,798
		2,253,159		113,799
Creditors amounts falling due within one year	5	(1,261,106)		(113,721)
Net current assets (liabilities)			992,053		78
Total assets less current liabilities			1,002,528		78
Creditors amounts falling due after one year	6		(2,438,341)		(448,096)
Net assets			(1,435,813)		(448,018)
Capital and reserves
Called up share capital			5,000		5,000
Profit and loss account			(1,440,813)		(453,018)
Shareholders' funds			(1,435,813)		(448,018)

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 22 September 2026, and are signed on its behalf by:

CLAGUE, Jonathan David
Director
Registered Company No. 15523381

TQ IMA 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	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.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of services or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of services or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Plant and machinery	5
	Fixtures and fittings	10
	Vehicles	4
	Office Equipment	3

	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 £2,403,096 (2024: £0).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	5		2

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	Additions	11,729
	At 31 December 25	11,729
	Depreciation and impairment
	Charge for year	1,254
	At 31 December 25	1,254
	Net book value
	At 31 December 25	10,475
	At 31 December 24	-

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,446,302	5,828
Other debtors	-	11,376
Prepayments and accrued income	124,983	25,797
Total	1,571,285	43,001


	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.

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.

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	79,544	82,453
Bank borrowings and overdrafts	4	-
Taxation and social security	162,942	21,268
Accrued liabilities and deferred income	1,018,616	10,000
Total	1,261,106	113,721


	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.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Trade creditors / trade payables	-	448,096
Convertible loans	2,438,341	-
Total	2,438,341	448,096


	At the balance sheet date, an amount of £2,438,341 (2024: £0) was due to Tquila ILP. The balance is unsecured, bears interest at 8% and repayable in accordance with the agreed terms. The directors consider that the carrying amount of these liabilities approximates to their fair value.

7.	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 98% of the Company's issued ordinary share capital.