REGISTERED NUMBER: 08427059 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

MY LOCAL PITCH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

C Merrett-Clarke

S M Day

J S Foale

M E Hibbard

S A P Loudon

D N Roberts

Registered office:

66-67 Newman Street

London

W1T 3EQ

Registered number:

08427059 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Intangible assets

4

7,047

8,456

Tangible assets

5

6,948

12,629

13,995

21,085

Current assets

Debtors

6

227,466

316,419

Cash at bank

590,370

522,803

817,836

839,222

Creditors

Amounts falling due within one year

7

611,528

611,310

Net current assets

206,308

227,912

Total assets less current liabilities

220,303

248,997

Creditors

Amounts falling due after more than one year

8

-

7,509

Net assets

220,303

241,488

Capital and reserves

Called up share capital

10

345

152

Share premium

7,154,343

6,247,536

Share option reserve

29,279

12,459

Retained earnings

(6,963,664

)

(6,018,659

)

Shareholders' funds

220,303

241,488

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 26 September 2025 and were signed on its behalf by:

C Merrett-Clarke - Director

1.	Statutory information

My Local Pitch 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.

Share based payments have been made to employees of the company. The fair value of any vested share options is recognised in the income statement. The fair value of share options is estimated using the Black Scholes 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.

There have been no other significant judgements or estimates applied to the numbers contained within these financial statements.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

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

-

33% 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.

Research and development

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

The company makes claims under the SME R&D tax relief scheme. Tax credits arising from claims under the SME R&D tax relief scheme are reflected as a reduction in the Corporation Tax charge or, if loss making, as a Corporation Tax credit.

Tax credits received or receivable from R&D claims are recognised in the reporting period in which the qualifying expenditure is incurred.

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 for its employees. The fair value of the employee services received in exchange for the grant of the options is recognised as an expense in the income statement. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted at the date of grant, 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 12 (2023 - 21 ) .

4.	Intangible fixed assets

Computer

software

£

Cost

At 1 January 2024

and 31 December 2024

14,092

Amortisation

At 1 January 2024

5,636

Amortisation for year

1,409

At 31 December 2024

7,045

Net book value

At 31 December 2024

7,047

At 31 December 2023

8,456

5.	Tangible fixed assets

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 January 2024

12,303

51,517

63,820

Additions

-

1,361

1,361

At 31 December 2024

12,303

52,878

65,181

Depreciation

At 1 January 2024

12,303

38,888

51,191

Charge for year

-

7,042

7,042

At 31 December 2024

12,303

45,930

58,233

Net book value

At 31 December 2024

-

6,948

6,948

At 31 December 2023

-

12,629

12,629

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

17,245

84,234

Other debtors

209,791

226,693

Prepayments and accrued income

430

5,492

227,466

316,419

Other debtors include £149,701 (2023: £194,718) due from HMRC in respect of the R&D claim for the year.

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

5,300

5,300

ASA

-

100,000

Booking fees

544,945

389,312

Social security and other taxes

55,677

72,666

Other creditors

5,606

44,032

611,528

611,310

ASA of £nil (2023: £100,000) represents shares to be issued under an advanced subscription agreement.

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans - 1-2 years

-

7,509

9.	Leasing agreements

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

2024

2023

£

£

Within one year

32,400

-

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

2024£

2023£

34,518,234 (2023: 15,220,360)

Ordinary

0.00001

345

152

5

Ordinary B

0.00001

0

0

5

Ordinary C

0.00001

0

0

5

Ordinary D

0.00001

0

0

345

152

During the year, 19,297,874 new Ordinary shares were issued at a nominal value £0.00001. The total increase in share capital due to these issues was £192.98.

11.	Related party disclosures

The company has taken advantage of the exemption provisions under FRS 102 s33 from disclosing transactions with its parent company.