REGISTERED NUMBER: 07783597 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Spike Global Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Heath-Smith

D Clapson

REGISTERED OFFICE:

Waverley House

115 - 119 Holdenhurst Road

Bournemouth

Dorset

BH8 8DY

REGISTERED NUMBER:

07783597 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Intangible assets

4

3,627,571

3,577,885

Tangible assets

5

91,377

86,455

3,718,948

3,664,340

CURRENT ASSETS

Debtors

6

743,435

760,162

CREDITORS

Amounts falling due within one year

7

1,452,552

2,012,819

NET CURRENT LIABILITIES

(709,117

)

(1,252,657

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,009,831

2,411,683

CREDITORS

Amounts falling due after more than one year

8

-

4,410

NET ASSETS

3,009,831

2,407,273

CAPITAL AND RESERVES

Called up share capital

11

3,604

1,584

Share premium

12

5,616,423

4,520,444

Retained earnings

12

(2,610,196

)

(2,114,755

)

SHAREHOLDERS' FUNDS

3,009,831

2,407,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 7 April 2026 and were signed on its behalf by:

J Heath-Smith - Director

1.	STATUTORY INFORMATION

Spike Global 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.

These financial statements have been prepared on a going concern basis despite losses continuing to arise after the period end. The company is in its development phase, therefore the directors expect losses to continue over the next year whilst still in this phase, but with continued support from external investors the directors anticipate they can continue as a going concern.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, and is recognised in the period in which the services were provided.

Intangible fixed assets

Software licences which provide future economic benefits to the company are capitalised and have been amortised evenly over their estimated useful life of 10 years.

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

-

15% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Provision is made at current rates for taxation deferred in respect of all material timing differences.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted.

Research and development

Expenditure on research and development is written off in the year in which it is incurred with the exception of expenditure incurred in respect of the development of major new products where the outcome of those projects is assessed as being reasonably certain as regards viability and technical feasibility. Such expenditure is capitalised and amortised straight line over 10 years, commencing in the year in which the costs were incurred in continually developing the software.

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 the profit and loss account on a straight line basis over the period of the lease.

Invoice discounting

The debts discounted are included within trade debtors with a financing limit relating to proceeds received from the invoice discounter included within creditors.

The interest element and other discount charges are recognised within the profit and loss account as they accrue.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2024 - 36 ) .

4.	INTANGIBLE FIXED ASSETS

Software

IP

£

COST

At 1 January 2025

6,551,231

Additions

734,287

At 31 December 2025

7,285,518

AMORTISATION

At 1 January 2025

2,973,346

Amortisation for year

684,601

At 31 December 2025

3,657,947

NET BOOK VALUE

At 31 December 2025

3,627,571

At 31 December 2024

3,577,885

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

34,794

266,641

301,435

Additions

4,806

49,009

53,815

At 31 December 2025

39,600

315,650

355,250

DEPRECIATION

At 1 January 2025

16,795

198,185

214,980

Charge for year

3,147

45,746

48,893

At 31 December 2025

19,942

243,931

263,873

NET BOOK VALUE

At 31 December 2025

19,658

71,719

91,377

At 31 December 2024

17,999

68,456

86,455

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

81,472

183,040

Other debtors

200

-

Tax

118,955

157,760

Prepayments

47,804

23,026

248,431

363,826

2025

2024

£

£

Amounts falling due after more than one year:

Deferred tax asset

495,004

396,336

Aggregate amounts

743,435

760,162

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Debentures

866,647

869,579

Bank loans and overdrafts

27,951

18,754

Invoice discounting

29,652

63,376

Trade creditors

181,901

126,785

Social security and other taxes

127,792

516,330

Other creditors

158,184

355,577

Accruals and deferred income

60,425

62,418

1,452,552

2,012,819

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

4,410

9.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

25,620

-

Between one and five years

93,940

-

119,560

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Debentures

866,647

869,579

Invoice discounting

29,652

63,376

896,299

932,955

Debentures are secured by way of a fixed and floating charge on certain assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid

Number:

Class

Nominal

2025

2024

value:

£

£

360,371

Ordinary

1p

3,604

1,584

During the year 202,072 Ordinary shares of 1p each were issued fully paid for cash at £5.43.

Called-up share capital represents the nominal value of shares that have been issued.

The share premium reserve contains the premium arising on issue of equity shares, net of issue expenses.

12.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2025

(2,114,755

)

4,520,444

2,405,689

Deficit for the year

(495,441

)

-

(495,441

)

Bonus share issue

-

1,095,979

1,095,979

At 31 December 2025

(2,610,196

)

5,616,423

3,006,227

13.	GOING CONCERN

The company reported a loss for both financial periods, resulting in net current liabilities as at the balance sheet date.

The company has demonstrated a strong track record in securing investment in recent years and has already successfully raised an additional £100,000 in funding in early 2026 and the shareholders remain committed to supporting the business.

The directors have reviewed the financial performance for the year, alongside post year end results and remain confident that the company has sufficient resources to continue operating for at least the next twelve months from the date of the financial statements.

Accordingly the going concern basis has been adopted in the preparation of the financial statements.