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SPOTTA LIMITED

Registered Number
11240610
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

SPOTTA LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

ANSON, Paul Manuel
BOWLES, David
D'SOUZA-MATHEW, Neil
FRYERS, Robert John Clayton
GUPTA, Krishna Kumar

Company Secretary

OAKWOOD CORPORATE SECRETARY LIMITED

Registered Address

2, Murdoch House
Garlic Row
Cambridge
CB5 8HW

Registered Number

11240610 (England and Wales)
SPOTTA LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3262,580125,929
Investments488
262,588125,937
Current assets
Debtors5766,026194,413
Cash at bank and on hand599,121382,287
1,365,147576,700
Creditors amounts falling due within one year6(185,828)(146,096)
Net current assets (liabilities)1,179,319430,604
Total assets less current liabilities1,441,907556,541
Creditors amounts falling due after one year7(14,972)(24,620)
Net assets1,426,935531,921
Capital and reserves
Called up share capital65
Share premium6,623,7083,726,837
Profit and loss account(5,196,779)(3,194,921)
Shareholders' funds1,426,935531,921
The financial statements were approved and authorised for issue by the Board of Directors on 29 May 2025, and are signed on its behalf by:
FRYERS, Robert John Clayton
Director
Registered Company No. 11240610
SPOTTA LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

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. The present currency of the financial statements as the pound sterling (£).
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.
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Going concern
The Company has recently completed an investment funding round, with £2.2M received so far this year with a further £460K expected before the end of June 2025. Following the success of the funding round the financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses are consistent with the Company's business plan as it progresses its R&D and commercialisation activities. Given the success of the recent funding round, the directors have a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the foreseeable future and therefore continue to adopt the going concern basis.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services and excludes VAT and other sales taxes.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
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 goods 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)
Land and buildings10
Plant and machinery5
Fixtures and fittings5
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Government grants or assistance
Grants are accounted for under the accruals model as permitted by FRS102. The deferred element of grants is included in debtors or creditors as accrued or deferred income, as appropriate.
2.Average number of employees
The above average numberis based on the full time equivalent (FTE) of staff numbers.

20242023
Average number of employees during the year1716
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 September 23138,24426,785165,029
Additions193,45619,293212,749
At 31 August 24331,70046,078377,778
Depreciation and impairment
At 01 September 2328,05411,04639,100
Charge for year63,33912,75976,098
At 31 August 2491,39323,805115,198
Net book value
At 31 August 24240,30722,273262,580
At 31 August 23110,19015,739125,929
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 September 2388
At 31 August 2488
Net book value
At 31 August 2488
At 31 August 2388

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables174,41727,454
Other debtors85,84664,897
Prepayments and accrued income505,763101,786
Total766,026194,137
Included within other debtors is an amount related to accrued income totalling £Nil (2021: £94,532).
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables130,922134,068
Bank borrowings and overdrafts1062,028
Other creditors10,00010,000
Accrued liabilities and deferred income44,800-
Total185,828146,096
The amount in other creditors represents the amount payable on the Bounce Back Loan Scheme.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts14,97224,620
Total14,97224,620
This represents the amounts payable on the Bounce Back Loan Scheme repayable over the next 2-5 years.
8.Operating lease commitments
Minimum lease payments under non-cancellable operating leases fall due as follows: 2024 2023 £ £ Within one year 84,132 79,132 Between one and five years 49,077 44,644 _________ _______ 133,209 123,776 _________ _______ A lease on the current premises was entered into, effective from 10 December 2021, for an annual rent of £75,000 and an annual service charge of £4,132. This lease has a break clause date of 24 March 2025.
9.Related party transactions
There were no material related party transactions which were not concluded under normal market conditions.