REGISTERED NUMBER: 08161567 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Sthaler Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N A Dryden

M Norton

Q C M Solt

D M Cox

REGISTERED OFFICE:

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

REGISTERED NUMBER:

08161567 (England and Wales)

ACCOUNTANTS:

Bristow Burrell

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

FIXED ASSETS

Intangible assets

5

4,335,184

4,364,040

Tangible assets

6

-

-

4,335,184

4,364,040

CURRENT ASSETS

Stocks

2,367

3,959

Debtors

7

160,441

75,012

Cash at bank

107,439

1,476,422

270,247

1,555,393

CREDITORS

Amounts falling due within one year

8

2,618,656

3,015,975

NET CURRENT LIABILITIES

(2,348,409

)

(1,460,582

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,986,775

2,903,458

CAPITAL AND RESERVES

Called up share capital

9

560

245

Share premium

23,249,697

22,463,229

Retained earnings

(21,263,482

)

(19,560,016

)

SHAREHOLDERS' FUNDS

1,986,775

2,903,458

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

N A Dryden - Director

1.	STATUTORY INFORMATION

Sthaler 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Licences

The company's policy is to capitalise licences on acquisition and amortise over their useful life on a straight line basis.

Development costs

The company's policy is to capitalise development expenditure as incurred and amortise over the expected life of the project from the commencement of its commercial production.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 10 ) .

5.	INTANGIBLE FIXED ASSETS

Patents

and

Development

licences

costs

Totals

£

£

£

COST

At 1 January 2024

9,827,500

1,105,118

10,932,618

Additions

500,000

-

500,000

At 31 December 2024

10,327,500

1,105,118

11,432,618

AMORTISATION

At 1 January 2024

6,568,578

-

6,568,578

Amortisation for year

528,856

-

528,856

At 31 December 2024

7,097,434

-

7,097,434

NET BOOK VALUE

At 31 December 2024

3,230,066

1,105,118

4,335,184

At 31 December 2023

3,258,922

1,105,118

4,364,040

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

3,433

34,744

38,177

DEPRECIATION

At 1 January 2024

and 31 December 2024

3,433

34,744

38,177

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

39,672

55,672

Other debtors

120,769

19,340

160,441

75,012

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

77,184

486,177

Taxation and social security

17,335

54,899

Other creditors

2,524,137

2,474,899

2,618,656

3,015,975

Within Other Creditors, there is an unsecured Loan for £1,615,000.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

559,973,830

Ordinary

£0.000001

560

245

Ordinary shares of £0.000001 were allotted as fully paid in the period in two tranches at the following share premiums.

Date

Share

Premium

06/02/2024

351,617

0.1422

07/02/2024

314,830,443

0.008158

10.	RELATED PARTY DISCLOSURES

Tangram Partners Limited (previously CQRS Limited)

A Company in which the director Q C M Solt is a shareholder.

During the year, consultancy fees of £6,000 (2023: £6,000) were paid.

Michael Norton Consulting Limited

A company in which the director M Norton is a shareholder.

During the year, consultancy fees of £12,000 (2023: £12,000) were paid.