Company No: 16660263 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.12.2025
		£
Fixed assets
Investments	3	111,933,473
		111,933,473
Current assets
Debtors	4	433,106
Cash at bank and in hand		93,128
		526,234
Creditors: amounts falling due within one year	5	( 7,144)
Net current assets		519,090
Total assets less current liabilities		112,452,563
Creditors: amounts falling due after more than one year	6	( 56,843,685)
Net assets		55,608,878
Capital and reserves
Called-up share capital	7	56,846,625
Profit and loss account		( 1,237,747 )
Total shareholders' funds		55,608,878

For the financial period ending 31 December 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 financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Sprints Mercury Limited (registered number: 16660263) were approved and authorised for issue by the Board of Directors on 05 June 2026. They were signed on its behalf by:

Mr A T Postlethwaite Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Sprints Mercury Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 28 Savile Row, London, W1S 2EU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period covers 5 months from incorporation on 19 August 2025 until the company's financial period end of 31 December 2025.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

	Period from 19.08.2025 to 31.12.2025
	Number
The Company had no employees during the year. Monthly average number of directors during the period	3

3. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 19 August 2025	0		0
Additions	111,933,473		111,933,473
At 31 December 2025	111,933,473		111,933,473
Carrying value at 31 December 2025	111,933,473		111,933,473

4. Debtors

	31.12.2025
	£
Amounts owed by related parties	433,106

5. Creditors: amounts falling due within one year

	31.12.2025
	£
Trade creditors	2,645
Accruals	4,499
	7,144

6. Creditors: amounts falling due after more than one year

	31.12.2025
	£
Amounts owed to related parties	56,843,685

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	31.12.2025
	£
Amounts owed to related parties	55,627,500

7. Called-up share capital

	31.12.2025
	£
Allotted, called-up and fully-paid
568,466,245 Ordinary shares of £ 0.10 each	56,846,625

8. Related party transactions

Other related party transactions

	31.12.2025
	£
Amounts owed from related parties	433,106
Amounts owed to related parties	56,843,685

The amounts owed from related parties are unsecured, interest free and repayable on demand. The amounts owed to related parties consist of unsecured 7% loan notes repayable in 2035.