Lightning Riders Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13514853

Lightning Riders Limited

Filleted Unaudited Financial Statements

31 July 2025

Lightning Riders Limited

Financial Statements

Year ended 31 July 2025

Contents	Page

Officers and professional advisers	1

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Lightning Riders Limited

Officers and Professional Advisers

The board of directors	A Pearce-Higgins
	W P Day

Company secretary	OHS Secretaries Limited

Registered office	Fora
	1 Lyric Square
	London
	W6 0NB

Accountants	Complete Accounting Solutions
	Chartered Certified Accountants
	727-729 High Road
	London
	N12 0BP

Lightning Riders Limited

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Lightning Riders Limited

Year ended 31 July 2025

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 July 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Complete Accounting Solutions Chartered Certified Accountants

727-729 High Road London N12 0BP

Lightning Riders Limited

Statement of Financial Position

31 July 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	5,443	6,488

Current assets

Debtors	6	35,151	43,745
Investments	7	1,107,044	1,854,491
Cash at bank and in hand		186,008	113,553
		------------	------------
		1,328,203	2,011,789

Creditors: amounts falling due within one year	8	51,442	5,204
		------------	------------
Net current assets		1,276,761	2,006,585
		------------	------------
Total assets less current liabilities		1,282,204	2,013,073
		------------	------------
Net assets		1,282,204	2,013,073
		------------	------------

Capital and reserves

Called up share capital	10	32	32
Share premium account		4,002,726	3,998,966
Share options reserve		93,627	73,856
Profit and loss account		( 2,814,181)	( 2,059,781)
		------------	------------
Shareholders funds		1,282,204	2,013,073
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Lightning Riders Limited

Statement of Financial Position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 18 November 2025 , and are signed on behalf of the board by:

A Pearce-Higgins

Director

Company registration number: 13514853

Lightning Riders Limited

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fora, 1 Lyric Square, London, W6 0NB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity .

Going concern

In our opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which we believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Share-based payments

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satisfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 5 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 August 2024	14,020
Additions	3,469
	--------
At 31 July 2025	17,489
	--------
Depreciation
At 1 August 2024	7,532
Charge for the year	4,514
	--------
At 31 July 2025	12,046
	--------
Carrying amount
At 31 July 2025	5,443
	--------
At 31 July 2024	6,488
	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	6,961	24,776
Other debtors	28,190	18,969
	--------	--------
	35,151	43,745
	--------	--------

7. Investments

	2025	2024
	£	£
Other investments - short term deposits	1,107,044	1,854,491
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	292	–
Social security and other taxes	27,000	–
Other creditors	24,150	5,204
	--------	-------
	51,442	5,204
	--------	-------

9. Share-based payments

The company runs an unapproved and EMI share options scheme and no (2024 : 58,618) share options were granted to no (2024 : 3) employees during the year and there are a total of 4 (2024 : 4) employees left in the scheme (none of whom is a director). The unapproved scheme has a total of 23,865 (2024 : 20,265) options within the scheme. The exercise prices are £1 (2024 : £1) and £0.43 (2024 : £0.43) per share .

Details of the number and weighted average exercise prices (WAEP) of share options during the year are as follows:

	2025		2024
	No.	WAEP	No.	WAEP
Outstanding at 1 August 2024	200,675	–	141,857	–
Granted during the year	3,600	0.81	58,618	0.83
	---------	-----	---------	-----
Outstanding at 31 July 2025	204,275	0.81	200,475	0.83
	---------	-----	---------	-----

Exercisable at 31 July 2025	204,075	0.81	200,675	0.83
	---------	-----	---------	-----

The total expense recognised in profit or loss for the year is as follows:

	2025	2024
	£	£
Equity-settled share-based payments	19,771	39,183
	--------	--------

10. Called up share capital

During the year, the company issued 8,725 B Ordinary shares of £0.00001 each for a total consideration of £3,760.