| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| FOR |
| SPRINT ELECTRIC LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| FOR |
| SPRINT ELECTRIC LIMITED |
| SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SPRINT ELECTRIC LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Appledram Barns |
| Birdham Road |
| Chichester |
| West Sussex |
| PO20 7EQ |
| SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651) |
| BALANCE SHEET |
| 31 OCTOBER 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 1. | STATUTORY INFORMATION |
| Sprint Electric Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address is Peregrine House Ford Lane, Ford, Arundel, West Sussex, BN18 0DF. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling (£), which is also the functional currency of the company. |
| Monetary amounts in these Financial Statements are rounded to the nearest £1. |
| Going concern |
| During the year, the Group secured additional funding to support the development and launch of its new product. This has been supplemented by a further funding round from existing investors, enabling the Group to continue with its planned product launch during 2026. |
| The directors have reviewed the Company's forecasts and projections and are satisfied that it has adequate resources to meet its liabilities as they fall due. Accordingly, the directors have a reasonable expectation that the Company will continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Revenue |
| Revenue, described as turnover, is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover from the sale of goods is recognised when the goods are delivered and legal title has passed |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Tangible fixed assets are initially recognised at cost, thereafter they are recognised at cost less accumulated depreciation and amortisation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
| Long leasehold | - | 7.5% on cost |
| Plant and machinery | - | 25% on cost |
| Fixtures and fittings | - | 10% on cost |
| Computer equipment | - | 25% 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. Work in progress is included at the cost of materials and labour used. |
| Financial instruments |
| Financial instruments are classified by the directors as basic following the conditions in FRS 102 Section 1a. 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. |
| SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.It is the assumption of the directors that these assets will be used in future. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Employee benefits |
| The cost of short-term employee benefits are recognised as a liability and an expense. |
| 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 |
| SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 November 2024 |
| and 31 October 2025 |
| AMORTISATION |
| At 1 November 2024 |
| and 31 October 2025 |
| NET BOOK VALUE |
| At 31 October 2025 |
| At 31 October 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Computer |
| leasehold | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 November 2024 |
| Additions |
| Reclassification/transfer | ( |
) |
| At 31 October 2025 |
| DEPRECIATION |
| At 1 November 2024 |
| Charge for year |
| At 31 October 2025 |
| NET BOOK VALUE |
| At 31 October 2025 |
| At 31 October 2024 |
| 6. | DEBTORS |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| SPRINT ELECTRIC LIMITED (REGISTERED NUMBER: 02160651) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2025 |
| 6. | DEBTORS - continued |
| Other debtors falling due after more than one year relate to deferred tax assets. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| At the balance sheet date the company had operating lease commitments of £240,086 (2024: £345,167). |