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REGISTERED NUMBER: 08089194 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SPRINTROOM LIMITED

SPRINTROOM LIMITED (REGISTERED NUMBER: 08089194)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPRINTROOM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: E J Prescott
Dr M D Gardiner
T P Routsis
G Keen
S A Chantler





REGISTERED OFFICE: Peregrine House
Ford Lane
Ford
Arundel
West Sussex
BN18 0DF





REGISTERED NUMBER: 08089194 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

SPRINTROOM LIMITED (REGISTERED NUMBER: 08089194)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 137,535 1,631
Investments 5 755 755
138,290 2,386

CURRENT ASSETS
Debtors 6 1,154,237 843,399
Cash at bank 766,810 146,443
1,921,047 989,842
CREDITORS
Amounts falling due within one year 7 910,813 333,658
NET CURRENT ASSETS 1,010,234 656,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,148,524

658,570

CREDITORS
Amounts falling due after more than one year 8 2,772,250 728,671
NET LIABILITIES (1,623,726 ) (70,101 )

CAPITAL AND RESERVES
Called up share capital 550,200 550,200
Share premium 1,009,539 1,009,539
Retained earnings (3,183,465 ) (1,629,840 )
(1,623,726 ) (70,101 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SPRINTROOM LIMITED (REGISTERED NUMBER: 08089194)

BALANCE SHEET - continued
31 OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:





T P Routsis - Director


SPRINTROOM LIMITED (REGISTERED NUMBER: 08089194)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling (£), which is also the functional currency of the company.

Monetary amounts in these Financial Statements are rounded to the nearest £1.

Going concern
During the year, the Company secured additional funding to support the development and launch of its new product. This has been supplemented by a further funding round from existing investors, enabling the Company to continue with its planned product launch during 2025.

The directors have reviewed the Company's forecasts and projections and are satisfied that it has adequate resources to meet its liabilities as they fall due. Accordingly, the directors have a reasonable expectation that the Company will continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Sprintroom Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue, described as turnover, is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are initially recognised at cost and subsequently measured at cost less accumulated depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery-25% on cost
Fixtures and fittings-10% on cost
Office equipment-10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are initially recognised at cost and subsequently measured at cost less accumulated impairment.

SPRINTROOM LIMITED (REGISTERED NUMBER: 08089194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified by the directors as basic following the conditions in FRS 102 Section 1a. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

SPRINTROOM LIMITED (REGISTERED NUMBER: 08089194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023 12,531 8,587 23,596 44,714
Additions 76,420 80,632 - 157,052
At 31 October 2024 88,951 89,219 23,596 201,766
DEPRECIATION
At 1 November 2023 12,531 8,587 21,965 43,083
Charge for year 13,243 6,274 1,631 21,148
At 31 October 2024 25,774 14,861 23,596 64,231
NET BOOK VALUE
At 31 October 2024 63,177 74,358 - 137,535
At 31 October 2023 - - 1,631 1,631


5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST OR VALUATION
At 1 November 2023
and 31 October 2024 755
NET BOOK VALUE
At 31 October 2024 755
At 31 October 2023 755

Cost or valuation at 31 October 2024 is represented by:

Shares in
group
undertaking
£   
Valuation in 2021 655
Cost 100
755


SPRINTROOM LIMITED (REGISTERED NUMBER: 08089194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 316,153 337,355

Amounts falling due after more than one year:
Other debtors 838,084 506,044

Aggregate amounts 1,154,237 843,399

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 62,419 26,031
Amounts owed to group undertakings 778,626 290,746
Taxation and social security 36,240 -
Other creditors 33,528 16,881
910,813 333,658

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 2,772,250 728,671

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 3,540 14,160