Sparkworld Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Sparkworld Limited Registered number 01895421 is a limited by shares company incorporated in England & Wales. The Registered Office is 9 Battle Road, Heathfield Industrial Estate, Newton Abbot, Devon, TQ12 6RY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The company has taken the option to early adopt SI 2015/980.

The financial statements are presented in Sterling and rounded to the nearest full £.

2.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

The company recognises revenue when the amount of revenue can be reasonably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Company's activities.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation and freehold property is revalued in accordance with FRS 102. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

An amount equal to the excess of the annual depreciation charge on the revalued assets over the notional historic cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Freehold	2% straight line
Plant & Machinery	Straight line over five years
Motor Vehicles	Straight line over five years
Fixtures & Fittings	Straight line over two years
Computer Equipment	Straight Line over three years

2.4. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs. There is no work-in-progress.

2.6. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.In accordance with FRS 102 Small Entities, deferred tax has been provided on the gain arising from the revaluation of freehold properties.

Page 3

Page 4

Sparkworld Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 34 (2025: 33)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 July 2025	2,995,000	327,206	732,837	283,649
Additions	-	-	48,183	-
Disposals	-	(621 )	-	-

As at 30 June 2026	2,995,000	326,585	781,020	283,649

Depreciation
As at 1 July 2025	299,500	299,094	607,522	234,353
Provided during the period	59,900	20,479	27,401	12,568
Disposals	-	(621 )	-	-

As at 30 June 2026	359,400	318,952	634,923	246,921

Net Book Value
As at 30 June 2026	2,635,600	7,633	146,097	36,728

As at 1 July 2025	2,695,500	28,112	125,315	49,296


	Computer Equipment	Total
	£	£
Cost
As at 1 July 2025	258,893	4,597,585
Additions	2,040	50,223
Disposals	-	(621 )

As at 30 June 2026	260,933	4,647,187

Depreciation
As at 1 July 2025	228,463	1,668,932
Provided during the period	17,559	137,907
Disposals	-	(621 )

As at 30 June 2026	246,022	1,806,218

...CONTINUED

Page 4

Page 5

Sparkworld Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

Net Book Value
As at 30 June 2026	14,911	2,840,969

As at 1 July 2025	30,430	2,928,653

Revaluation

The fair value of the company's freehold property was revalued on 30 June 2020 by an independent valuer at a value of £2,995,000.

The valuation was undertaken on a market value basis, which was calculated in accordance with the RICS Appraisal and Valuation Standards. The name and qualification of the independant valuer is G Courtney-Stamp of Jones Lang LaSalle of The Senate Southernhay, Exeter who is RICS qualified.

The historic cost equivalent of land and buildings included at valuation are as follows: Net book value £801,718 (2026) £828,887 (2025)

5. Stocks

	2026	2025
	£	£
Stock - resale	1,402,604	1,443,192

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	126,442	130,673
Prepayments and accrued income	100,971	42,199
Miscellaneous debtors	255,003	244,469

	482,416	417,341

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	672,980	578,522
Corporation tax	11,008	28,318
Other taxes and social security	24,358	24,568
VAT	85,482	120,464
Other debtor provision	109,749	98,915
Accruals and deferred income	101,205	87,540
Directors' loan accounts	168,399	177,999

	1,173,181	1,116,326

8. Secured Creditors

Of the creditors the following amounts are secured.

Page 5

Page 6

Sparkworld Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

10. Deferred Taxation

The provision for deferred taxation is made up of accelerated capital allowances and includes provision for deferred tax on the gain arising on the revaluation of freehold property.Accelerated capital allowances account for deferred tax of £58,289 and the balance of £261,297 relates to the potential tax on the gain in value of the freehold properties.

Deferred tax is calculated at a rate of 25% in accordance with current legislation.

	2026	2025
	£	£
Other timing differences	312,639	319,586

11. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 July 2025	319,586	319,586
Reversals	(6,947 )	(6,947)

Balance at 30 June 2026	312,639	312,639

12. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	170	170

100 A Ordinary shares of £1 each and 70 B Ordinary non voting shares of £1.

13. Dividends

	2026	2025
	£	£
On equity shares:
Interim dividend paid	85,600	115,460

14. Reserves

	Share Premium	Revaluation reserve	Profit and Loss Account
	£	£	£
As at 1 July 2025	7,256	1,765,370	1,982,069
Loss for the year and total comprehensive income	-	-	(36,083 )

Dividends paid	-	-	(85,600)
Transfer from revaluation reserve	-	-	24,280
Transfer to/from Profit & Loss Account	-	(24,280 )	-

As at 30 June 2026	7,256	1,741,090	1,884,666

Page 6

Page 7

Sparkworld Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

15. Related Party Transactions

Transactions with directors and shareholders

During the year the Company paid dividends of £43,200 to directors (2025 £47,620) and £42,400 to other shareholders (2025 £67,840).

The directors made loans to the company which are interest free and have no fixed date of repayment.

The amount due to directors at 30th June 2026 was £61,596 (2025 £51,196).

The amount due to shareholders at 30th June 2026 was £106,803 (2025 £126,803).

16. Bank borrowing

The bank loan is denominated in £ with a nominal interest rate of 2.1% above Bank of England base rate. The carrying amount at the year end is £nil (2024 £289,517).

The loan was secured by a legal charge over the company's properties at Coat Road, Martock and Battle Road, Heathfield and a debenture over all company assets. Repayments were made monthly over the period of the loans and interest was charged quarterly.

Page 7

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,840,969		2,928,653

			2,840,969		2,928,653
CURRENT ASSETS
Stocks	5	1,402,604		1,443,192
Debtors	6	482,416		417,341
Cash at bank and in hand		393,013		401,591

		2,278,033		2,262,124
Creditors: Amounts Falling Due Within One Year	7	(1,173,181 )		(1,116,326 )

NET CURRENT ASSETS (LIABILITIES)			1,104,852		1,145,798

TOTAL ASSETS LESS CURRENT LIABILITIES			3,945,821		4,074,451

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(312,639 )		(319,586 )

NET ASSETS			3,633,182		3,754,865

CAPITAL AND RESERVES
Called up share capital	12		170		170
Share premium account			7,256		7,256
Revaluation reserve	14		1,741,090		1,765,370
Profit and Loss Account			1,884,666		1,982,069

SHAREHOLDERS' FUNDS			3,633,182		3,754,865