SPRINT WORLD LTD

Company Registration Number:
12182031 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2024

Period of accounts

Start date: 01 September 2023

End date: 31 August 2024

SPRINT WORLD LTD

Contents of the Financial Statements

for the Period Ended 31 August 2024

Balance sheet
Notes

SPRINT WORLD LTD

Balance sheet

As at 31 August 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 918 0
Tangible assets: 4 85,726 4,397
Total fixed assets: 86,644 4,397
Current assets
Debtors:   620,037 361,576
Cash at bank and in hand: 304,014 473,022
Total current assets: 924,051 834,598
Creditors: amounts falling due within one year:   (260,413) (276,741)
Net current assets (liabilities): 663,638 557,857
Total assets less current liabilities: 750,282 562,254
Creditors: amounts falling due after more than one year:   (68,854)
Total net assets (liabilities): 681,428 562,254
Capital and reserves
Called up share capital: 167 167
Share premium account: 120,265 120,265
Profit and loss account: 560,996 441,822
Shareholders funds: 681,428 562,254

The notes form part of these financial statements

SPRINT WORLD LTD

Balance sheet statements

For the year ending 31 August 2024 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 25 April 2025
and signed on behalf of the board by:

Name: Mr Nirav Dipakkumar Gandhi
Status: Director

The notes form part of these financial statements

SPRINT WORLD LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

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

Turnover : Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets : Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Depreciation : Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fittings fixtures and equipment - 25% straight line Motor vehicles - 20% straight line If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Intangible assets : Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. Amortisation : Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Other accounting policies

Taxation : The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Impairment : A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Financial instruments : A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

SPRINT WORLD LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

SPRINT WORLD LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Intangible Assets

Total
Cost £
At 01 September 2023 0
Additions 1,147
At 31 August 2024 1,147
Amortisation
At 01 September 2023 0
Charge for year 229
At 31 August 2024 229
Net book value
At 31 August 2024 918
At 31 August 2023 0

SPRINT WORLD LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Tangible Assets

Total
Cost £
At 01 September 2023 10,195
Additions 105,518
At 31 August 2024 115,713
Depreciation
At 01 September 2023 5,798
Charge for year 24,189
At 31 August 2024 29,987
Net book value
At 31 August 2024 85,726
At 31 August 2023 4,397

SPRINT WORLD LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Related party transactions

Name of the related party:
Relationship:
Directors
Description of the Transaction: Interest free loan given to the company by Directors
£
Balance at 01 September 2023 15,033
Balance at 31 August 2024 58,803