REGISTERED NUMBER: 10139484 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

LONDON PULSE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C D O Jillings

S J Pope

Ms S Bird

SECRETARY:

ICM Administration Limited

REGISTERED OFFICE:

Ridgecourt

The Ridge

Epsom

Surrey

KT18 7EP

REGISTERED NUMBER:

10139484 (England and Wales)

AUDITORS:

Lewis Brownlee (Chichester) Limited

Statutory Auditors

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Tangible assets

4

919

4,268

CURRENT ASSETS

Stocks

-

7,300

Debtors

5

37,055

179,601

Cash at bank

241,926

123,909

278,981

310,810

CREDITORS

Amounts falling due within one year

6

209,144

339,171

NET CURRENT ASSETS/(LIABILITIES)

69,837

(28,361

)

TOTAL ASSETS LESS CURRENT LIABILITIES

70,756

(24,093

)

CREDITORS

Amounts falling due after more than one year

7

80,000

-

NET LIABILITIES

(9,244

)

(24,093

)

CAPITAL AND RESERVES

Called up share capital

2,804

1,963

Share premium

1,190,047

1,190,047

Retained earnings

(1,202,095

)

(1,216,103

)

(9,244

)

(24,093

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2026 and were signed on its behalf by:

S J Pope - Director

1.	STATUTORY INFORMATION

London Pulse 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

Going concern

At the year end the company had net liabilities of £9,244 (2024: £24,093) which includes a loan of £80,000 (2024: £Nil) from Blue Sky Holdings Ltd, the immediate parent company.

Blue Sky Holdings Ltd has confirmed that it intends to provide financial support to enable the company to meet its liabilities as and when they fall due until at least 31 May 2027. The directors believe that Blue Sky Holdings Ltd has adequate resources to continue to provide a sufficient level of support and based on this, the provision of a letter of support and current and previous actual provision of support, therefore consider it appropriate to prepare financial statements on the going concern basis. The financial statements do not include any adjustment that would result if the going concern assumption was found to be inappropriate.

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts receivable net of VAT.

Turnover from the sale of goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer, the amount of turnover can be measured reliably, it is probable that the company will receive the consideration due under the transaction and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the amount of turnover can be measured reliably and it is probable that the company will receive the consideration due under the contract.

Deferred income

Other creditors includes deferred income which represents amounts receivable at a certain, and over a period of, time. It is released to profit or loss when the services are provided or in the season to which it relates.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

Plant and machinery

-

25% on cost

Government grants

Grant income, shown in other operating income, comprises funding received from local authorities, sporting organisations and other grant-making institutions.

Grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to the grant and that the grant will be received.

Grants that are subject to performance-related or future conditions are not recognised in profit or loss until those conditions are satisfied. Amounts received in advance of meeting the relevant conditions are recognised as deferred income.

Grant income is recognised in profit or loss on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Stocks

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

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2024

1,000

6,000

3,011

10,011

Disposals

-

(6,000

)

-

(6,000

)

At 31 August 2025

1,000

-

3,011

4,011

DEPRECIATION

At 1 September 2024

417

3,492

1,834

5,743

Charge for year

229

-

612

841

Eliminated on disposal

-

(3,492

)

-

(3,492

)

At 31 August 2025

646

-

2,446

3,092

NET BOOK VALUE

At 31 August 2025

354

-

565

919

At 31 August 2024

583

2,508

1,177

4,268

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

26,058

146,767

Other debtors

10,997

32,834

37,055

179,601

A deferred tax asset in respect of losses carried forward of £1,192,549 (2024: 1,208,365) has not been recognised because, at present, it is not certain that there will be future taxable profits from which reversal of underlying losses can be deducted.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

457

18,421

Taxation and social security

40,108

69,925

Other creditors

168,579

250,825

209,144

339,171

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

80,000

-

8.	LEASING AGREEMENTS

At the balance sheet date, the company had commitments under non-cancellable operating leases totalling £95 (2024: £667).

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lewis Brownlee (Chichester) Limited

10.	RELATED PARTY DISCLOSURES

During the year, the company received a loan from its parent undertaking, Blue Sky Holdings Limited of £80,000 (2024: £215,000). The loan is interest free, unsecured, and has no fixed terms of repayment but the parent undertaking has confirmed the loan cannot be called for repayment on less than one year's notice. At the balance sheet date, the amount due to the parent undertaking was £80,000 (2024: £Nil).