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Registered Number: 11346552
England and Wales

 

 

 

DATASPARQ LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 18,715    30,779 
18,715    30,779 
Current assets      
Debtors 5 1,784,569    2,220,219 
Cash at bank and in hand 293,645    112,073 
2,078,214    2,332,292 
Creditors: amount falling due within one year 6 (645,810)   (978,104)
Net current assets 1,432,404    1,354,188 
 
Total assets less current liabilities 1,451,119    1,384,967 
Creditors: amount falling due after more than one year 7 (1,228,999)   (1,209,999)
Net assets 222,120    174,968 
 

Capital and reserves
     
Called up share capital 1    1 
Reserves 8 16,196    9,629 
Profit and loss account 205,923    165,338 
Shareholders' funds 222,120    174,968 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 July 2025 and were signed on its behalf by:


-------------------------------
John Wyllie
Director
1
General Information
DATASPARQ LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11346552, registration address Orion House C/O Mml Capital Partners Llp, Upper St. Martin's Lane, London, England, WC2H 9EA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 2 years Straight Line
Computer Equipment 2 years Straight Line
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 55 (2023 : 46).
3.

Financial Commitments, Guarantees and Contingencies

Total future minimum payments under non-cancellable operating leases at 31 December 2024 was £716,837 (2023 £1,101,083).




4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2024 1,558    71,101    72,659 
Additions 170    16,112    16,282 
Disposals   (1,815)   (1,815)
At 31 December 2024 1,728    85,398    87,126 
Depreciation
At 01 January 2024 585    42,922    43,507 
Charge for year 857    25,675    26,532 
On disposals   (1,628)   (1,628)
At 31 December 2024 1,442    66,969    68,411 
Net book values
Closing balance as at 31 December 2024 286    18,429    18,715 
Opening balance as at 01 January 2024 973    29,806    30,779 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 921,763    1,730,578 
Prepayments & Accrued Income 529,682    240,563 
Other Debtors 168,669    86,916 
Deferred tax asset 164,455    162,162 
1,784,569    2,220,219 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 43,062    16,051 
Taxation and social security costs 341,732    441,600 
Accruals and deferred income 212,690    520,084 
Other Creditors 48,326    369 
645,810    978,104 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Datasparq Holdings Limited 1,228,999    1,209,999 
1,228,999    1,209,999 

8.

Reserves

2024
£
  2023
£
Share Options Reserve b/fwd 12,396    4,911 
Lapse of Share Options in the Year (1,250)  
Issue of Share Options in the Year 5,050    4,718 
16,196    9,629 

9.

Share options

Enterprise Management Incentive Options   Number of EMI options
£
At 31 January 2024 142,500 
issued during the year 62,000 
lapsed during the year (6,250)
At 31 December 2024 198,250 

All shares at 31 December 2024 were non -vested.

During the year ended 31 December 2020, the company granted the following Enterprise Management Incentive options:

Number of shares        75000
Option Price                  £1 each
Number employees      8
Vesting period              on exit

6250 Enterprise Management Incentive Options, with an option price of £1 lapsed during this period.
             
During the year ended 31 December 2021, the company granted the following Enterprise Management Incentive options:

Number of shares      31,250
Option Price                £1 each
Number employees     4
Vesting period             on exit


6250 Enterprise Management Incentive Options, with an option price of £1 lapsed during the year ended 31 December 2022.

During the year ended 31 December 2023, the company granted the following Enterprise Management Incentive options:
Number of shares      48,750
Option Price                £1 each
Number employees   6
Vesting period            on exit


During the year ended 31 December 2024, the company granted the following Enterprise Management Incentive options:
Number of shares     62,000
Option Price               £1 each
Number employees  6
Vesting period           on exit 

6250 Enterprise Management Incentive Options, with an option price of £1 lapsed during this period.

The HMRC valuation of the share options is £0.20 per share.

The share options have been granted by the holding company, Datasparq Holdings Limited, to the employees of Datasparq limited.


10.

Controlling Party

Datasparq Ltd is a 100% owned subsidiary of Datasparq Holdings Limited.

The registered office of Datasparq Holdings Limited is:
Orion House
c/o MML Capital Partners LLP
Upper St. Martin's Lane
London
WC2H 9EA
2