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# SPARK ROAM LIMITED

## Company Registration Number:
13747268 (England and Wales)

## Unaudited abridged accounts for the year ended 30 November 2025

## Period of accounts

## Start date: 01 December 2024

## End date: 30 November 2025

# SPARK ROAM LIMITED

## Contents of the Financial Statements

for the Period Ended 30 November 2025

Company Information - 3 |
Balance sheet - 4 |
Additional notes - 6 |
Balance sheet notes - 9 |

# SPARK ROAM LIMITED

## Company Information

for the Period Ended 30 November 2025

Registered office: |  | 71-75 Shelton Street Covent Garden London GBR WC2H 9JQ
Company Registration Number: |  | 13747268 (England and Wales)

# SPARK ROAM LIMITED

## Balance sheet

As at 30 November 2025

| Notes | 2025 £ | 2024 £
--- | --- | --- | ---
Fixed assets
Intangible assets: | 4 | 330,000 | 400,000
Tangible assets: | 5 | 25,000 | 0
Total fixed assets: |  | 355,000 | 400,000
Current assets
Stocks: |  | 750,000 | 400,000
Debtors: | 6 | 8,430,000 | 9,100,000
Cash at bank and in hand: |  | 150,000 | 100,000
Total current assets: |  | 9,330,000 | 9,600,000
Prepayments and accrued income: |  | 0 | 0
Creditors: amounts falling due within one year: | 7 | ( 0 ) | ( 0 )
Net current assets (liabilities): |  | 9,330,000 | 9,600,000
Total assets less current liabilities: |  | 9,685,000 | 10,000,000
Creditors: amounts falling due after more than one year: | 8 | ( 0 ) | ( 0 )
Provision for liabilities: |  | ( 0 ) | ( 0 )
Accruals and deferred income: |  | ( 0 ) | ( 0 )
Total net assets (liabilities): |  | 9,685,000 | 10,000,000

The notes form part of these financial statements

# SPARK ROAM LIMITED

## Balance sheet continued

As at 30 November 2025

| Notes | 2025 £ | 2024 £
--- | --- | --- | ---
Capital and reserves
Called up share capital: |  | 10,000,000 | 10,000,000
Revaluation reserve: | 9 | 0 | 0
Profit and loss account: |  | ( 315,000 ) | 0
Shareholders funds: |  | 9,685,000 | 10,000,000

For the year ending 30 November 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 19 January 2026
And Signed On Behalf Of The Board By:

Name: Pankaj Kumar Singh
Status: Director

The notes form part of these financial statements

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  "Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value-added taxes. Turnover includes revenue from the sale of digital eSIM data packages and roaming services, recognized at the point of customer activation."

  Tangible fixed assets depreciation policy

  "Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life: Mobile Testing Hardware and electronic equipment are depreciated at 20% per annum on a straight-line basis."

  Intangible fixed assets amortisation policy

  "Intangible assets represent internally developed software and platform infrastructure. Amortisation is charged using the straight-line method over 6 years to allocate the cost of the assets over their estimated useful lives."

  Valuation information and policy

  "Stocks and work in progress are valued at the lower of cost and net realisable value. This includes prepaid eSIM data inventory and carrier deposits held for future customer consumption."

  Other accounting policies

  "Current asset investments (Digital Assets): Digital assets held for treasury management and operational liquidity are initially recognized at cost and subsequently measured at fair market value at the balance sheet date. Gains or losses arising from changes in fair value are recognized in the Profit and Loss account."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

- ## 2. Employees

  | 2025 | 2024
  --- | --- | ---
  Average number of employees during the period | 15 | 15

  "The company’s directors are non-residents of the United Kingdom, and the company maintains no physical office or payroll presence within the UK. The average number of employees represents the directors and a global team of international independent contractors. This team provides 24/7 technical infrastructure maintenance and customer support across multiple time zones, which is essential for the company's global roaming operations. All staff functions are performed outside the UK."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

- ## 3. Off balance sheet disclosure

  No

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

- ## 4. Intangible assets

  | Total
  --- | ---
  Cost | £
  At 01 December 2024 | 600,000
  Additions | 75,000
  Disposals | (0)
  Revaluations | 0
  Transfers | 0
  At 30 November 2025 | 675,000
  Amortisation |
  Amortisation at 01 December 2024 | 200,000
  Charge for year | 145,000
  On disposals | (0)
  Other adjustments | 0
  Amortisation at 30 November 2025 | 345,000
  Net book value |
  Net book value at 30 November 2025 | 330,000
  Net book value at 30 November 2024 | 400,000

  Note for Intangible Assets (AC5123)
  "Intangible assets represent internally generated software and platform development. The movement in the period reflects ongoing development costs of £75,000 less amortisation of £145,000, based on a 6-year useful life consistent with prior year policies."
  Note for Debtors (AC52/53)
  "Debtors include £6,000,000 (2024: £9,100,000) of called-up share capital not paid. The remaining balance represents digital asset treasury holdings used to facilitate immediate settlement for global eSIM roaming wholesale transactions."
  Note for Tangible Assets (AC44/45)
  "Tangible assets consist of latest-generation mobile hardware used exclusively for network validation and global roaming signal testing across 150+ supported countries."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

## 5. Tangible Assets

| Total
--- | ---
Cost | £
At 01 December 2024 | 0
Additions | 31,250
Disposals | (0)
Revaluations | 0
Transfers | 0
At 30 November 2025 | 31,250
Depreciation |
At 01 December 2024 | 0
Charge for year | 6,250
On disposals | (0)
Other adjustments | 0
At 30 November 2025 | 6,250
Net book value |
At 30 November 2025 | 25,000
At 30 November 2024 | 0

"Tangible assets consist of latest-generation mobile hardware and eSIM testing equipment. These assets are used exclusively for global network validation, latency monitoring, and roaming signal stress-testing across the 150+ countries supported by the Spark Roam platform. This hardware is essential for ensuring service quality and technical compatibility with international carrier partners."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

- ## 6. Debtors

  | 2025 £ | 2024 £
  --- | --- | ---
  Debtors due after more than one year: | 6,000,000 | 9,100,000

  "Debtors primarily consist of called-up share capital not yet paid. As of 30 November 2025, £6,000,000 (2024: £9,100,000) remains unpaid and is not expected to be called within the next financial year. The reduction in the period reflects the capitalization of director investment through the satisfaction of operational expenses. Other debtors include digital asset holdings maintained as a treasury reserve to facilitate immediate wholesale settlement with international roaming partners."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

## 7. Creditors: amounts falling due within one year note

"Creditors primarily consist of the Director's Loan Account, which is provided to the company on an interest-free basis with no fixed repayment date. There are no secured creditors, bank loans, or third-party overdrafts. The company maintains a debt-free status with all operational liabilities being settled immediately through existing liquidity."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

## 8. Creditors: amounts falling due after more than one year note

"The company has no third-party creditors, bank loans, or secured debts falling due after more than one year. All long-term support is provided by the Director on an interest-free basis, with no fixed repayment schedule, ensuring the company maintains a strong, debt-free balance sheet to support its global scaling operations."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

## 9. Revaluation reserve

| 2025 £
--- | ---
Balance at 01 December 2024 | 0
Surplus or deficit after revaluation | 0
Balance at 30 November 2025 | 0

"No revaluation reserve has been created during the period. The company maintains its intangible assets (software) at historical cost less accumulated amortisation. Digital assets held for treasury management are treated as current asset investments, with changes in value recognized through the Profit and Loss account rather than a revaluation reserve, ensuring a conservative and transparent presentation of the company’s equity."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

- ## 10. Financial Commitments

  The company has significant future financial commitments related to global network capacity expansion and the procurement of bulk data roaming inventory to support its 150+ country footprint. These commitments are fully underwritten by the majority shareholder and Director, who has provided a formal letter of support to the company. The Director has committed to fund all operational and capital requirements from personal resources for the foreseeable future, ensuring the company remains a debt-free going concern without reliance on third-party financial institutions."

# SPARK ROAM LIMITED

## Notes to the Financial Statements

for the Period Ended 30 November 2025

- ## 11. Post balance sheet events

  On 19 January 2026, the Board of Directors resolved to capitalize £4,000,000 of the Director’s Loan Account. This transaction converted existing interest-free director funding into paid-up share capital, significantly strengthening the company’s balance sheet and reducing the 'Called up share capital not paid' figure. Additionally, the company has continued its global expansion strategy, entering new carrier partnerships in East Asia to support increased transaction volumes validated through our primary processing partners."