REGISTERED NUMBER: 09655770 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

SPORTLIGHT TECHNOLOGY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

H J Kraft

S A P Loudon

Dr M P Mellor

J Chalfin

Registered office:

Unit E14

Telford Road

Bicester

OX26 4LD

Registered number:

09655770 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

136,973

82,093

Current assets

Debtors

5

530,848

344,591

Cash at bank

460,952

718,173

991,800

1,062,764

Creditors

Amounts falling due within one year

6

353,705

100,890

Net current assets

638,095

961,874

Total assets less current liabilities

775,068

1,043,967

Creditors

Amounts falling due after more than one year

7

361,792

-

Net assets

413,276

1,043,967

Capital and reserves

Called up share capital

9

1,656

1,469

Share premium

8,949,727

7,528,040

Other reserves

417,077

327,930

Retained earnings

(8,955,184

)

(6,813,472

)

Shareholders' funds

413,276

1,043,967

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

J Chalfin - Director

1.	Statutory information

Sportlight Technology Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however, the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when, they become due and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in accounting for share-based payments. The fair value of share options granted to employees is calculated using the Black-Scholes valuation model. The fair value of the ordinary shares in issue at the date of granting the options is used as an input to the model.

Turnover

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development

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

Foreign currencies

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.

Hire purchase and 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.

Share based payments

The company operates an equity-settled compensation plan. The fair value of the services received in exchange for the grant of the options is recognised as an expense in the income statement except when it is considered immaterial to the financial statements. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted, excluding the impact of any non-market vesting conditions (for example, profitability and sales growth targets). Non-market vesting conditions are included in assumptions about the number of options that are expected to vest. At each statement of financial position date, the entity revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to original estimates, if any, in the income statement. The credit entry is taken to reserves because the share options are equity-settled.

3.	Employees and directors

The average number of employees during the year was 26 (2023 - 24 ) .

4.	Tangible fixed assets

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 January 2024

92,084

17,289

35,920

145,293

Additions

29,057

-

64,339

93,396

At 31 December 2024

121,141

17,289

100,259

238,689

Depreciation

At 1 January 2024

31,939

5,864

25,397

63,200

Charge for year

21,325

3,458

13,733

38,516

At 31 December 2024

53,264

9,322

39,130

101,716

Net book value

At 31 December 2024

67,877

7,967

61,129

136,973

At 31 December 2023

60,145

11,425

10,523

82,093

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

194,876

27,600

Other debtors

335,972

316,991

530,848

344,591

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

54,232

2,516

Taxation and social security

46,742

50,807

Other creditors

252,731

47,567

353,705

100,890

7.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Other creditors

361,792

-

8.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year : £nil (2023: £21,000)

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

165,587

Ordinary

£0.01

1,656

1,469

During the year, the company issued 18,654 new shares with nominal value at £0.01.

10.	Share-based payment transactions

The company operates an EMI qualifying share option scheme and during the year the company granted nil (2023: 2,600) EMI qualifying share options to employees at an average weighted exercise price of £20.02 per share (2023: £20.02). At the statement of financial position date, 22,449 share options vested (2023: 19,316). 320 share options had lapsed (2023: nil) and 200 (2023: nil) had been exercised. An amount of £89,147 (2023: 41,145) has been charged to the income statement in respect of the EMI qualifying share options. The share options vest over a period ranging from 23 to 48 months from the date of grant and are exercisable over the company's Ordinary shares.