BALLPARK LABS LTD


Directors	MOORE, Brendan
	MUTLU, Murat


Registered Address	Third Floor
	20 Old Bailey
	London
	EC4M 7AN


Registered Number	08625398 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Called up share capital not paid			3,344		-
Fixed assets
Tangible assets	4		6,329		11,035
			6,329		11,035
Current assets
Debtors	5	406,131		208,257
Cash at bank and on hand		309,659		741,983
		715,790		950,240
Creditors amounts falling due within one year	6	(917,461)		(682,840)
Net current assets (liabilities)			(198,327)		267,400
Total assets less current liabilities			(191,998)		278,435
Net assets			(191,998)		278,435
Capital and reserves
Called up share capital			1,015		1,015
Share premium			8,581,026		8,577,682
Other reserves			14,336		18,902
Profit and loss account			(8,788,375)		(8,319,164)
Shareholders' funds			(191,998)		278,435

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 21 September 2026, and are signed on its behalf by:

MUTLU, Murat
Director
Registered Company No. 08625398

BALLPARK LABS LTD

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Subscription income is recognised evenly over the subscription term to which it relates. Amounts invoiced in advance of the related service period are carried as deferred income within creditors until they are recognised as turnover.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Subscription income is recognised evenly over the subscription term to which it relates. Amounts invoiced in advance of the related service period are carried as deferred income within creditors until they are recognised as turnover.

	Defined contribution pension plan
	The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

	Share-based payments
	The share-based payment has been accounted for as an equity-settled transaction in accordance with FRS 102 Section 26. The fair value of the options at the grant date is recognised as an expense over the vesting period, with a corresponding credit to equity.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods and measured at the amounts expected to be payable or recoverable using tax rates and laws enacted or substantively enacted at the reporting date. The related tax benefit of any Research and Development claim is recognised in the period in which the amount is received from HMRC.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	3

2.	Average number of employees


		2025		2024
	Average number of employees during the year	16		17

3.	Prior period adjustment
	During the year, the Directors identified that share based payment transactions relating to certain share options that were exercised prior to 1 August 2023 had not been recognised in accordance with Section 26 Share-based Payment of FRS 102. Additionally the fair value used at grant date, has been revised by the Directors to £5.45455 a share, as the previously used fair value incorrectly correlated to the a different share class. During the year, the Directors also identified, that during the year ended 31 July 2023 the company had allotted 467,000 Ordinary shares of £0.001 each at £0.05 per share for total consideration of £23,350. The nominal value of £467 was correctly credited to called up share capital, but the premium arising of £22,883 was incorrectly credited to income in the profit and loss account rather than to the share premium account. In accordance with Section 10 of FRS 102 Accounting Policies, Estimates and Errors, these amendments have been treated as corrections of a prior period error. The comparative figures have been restated to recognise the cumulative share based payment credit and the share premium correction. The cumulative adjustment recognised in Other reserves as at 1 August 2023 was £1,369,464, which is broken down by £77,134 relating to 15,711 share options that were exercised on or before the year ended 31 July 2023 and £1,292,330 relating to the change in the fair value used at grant date. The remaining adjustment of £22,883 reflects the correction to share premium and to remove the income previously recognised in the profit and loss account. The balance sheet impact is summarised below: Previously reported (£) Adjustment (£) Restated (£) Profit and loss account (9,588,611) 1,269,447 (8,319,164) Other reserves 1,388,366 (1,369,464) 18,902 Share premium 8,477,665 100,017 8,577,682 Shareholders' funds 278,435 0 278,435 There is no impact on the company’s cash balances or net assets, and the comparative figures for the prior period have been restated accordingly.

Prior period adjustment

During the year, the Directors identified that share based payment transactions relating to certain share options that were exercised prior to 1 August 2023 had not been recognised in accordance with Section 26 Share-based Payment of FRS 102. Additionally the fair value used at grant date, has been revised by the Directors to £5.45455 a share, as the previously used fair value incorrectly correlated to the a different share class. 

During the year, the Directors also identified, that during the year ended 31 July 2023 the company had allotted 467,000 Ordinary shares of £0.001 each at £0.05 per share for total consideration of £23,350. The nominal value of £467 was correctly credited to called up share capital, but the premium arising of £22,883 was incorrectly credited to income in the profit and loss account rather than to the share premium account. 

In accordance with Section 10 of FRS 102 Accounting Policies, Estimates and Errors, these amendments have been treated as corrections of a prior period error.  
The comparative figures have been restated to recognise the cumulative share based payment credit and the share premium correction. 

The cumulative adjustment recognised in Other reserves as at 1 August 2023 was £1,369,464, which is broken down by £77,134 relating to 15,711 share options that were exercised on or before the year ended 31 July 2023 and £1,292,330 relating to the change in the fair value used at grant date. The remaining adjustment of £22,883 reflects the correction to share premium and to remove the income previously recognised in the profit and loss account. 

The balance sheet impact is summarised below:           
                                                  Previously reported (£)          Adjustment (£)           Restated (£)
Profit and loss account                   (9,588,611)                         1,269,447                (8,319,164)
Other reserves                                 1,388,366                        (1,369,464)                  18,902
Share premium                                8,477,665                            100,017                  8,577,682
Shareholders' funds                          278,435                                  0                          278,435
There is no impact on the company’s cash balances or net assets, and the comparative figures for the prior period have been restated accordingly.

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 January 25	20,139	20,139
Additions	976	976
At 31 December 25	21,115	21,115
Depreciation and impairment
At 01 January 25	9,104	9,104
Charge for year	5,682	5,682
At 31 December 25	14,786	14,786
Net book value
At 31 December 25	6,329	6,329
At 31 December 24	11,035	11,035

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	387,974	177,983
Other debtors	8,174	8,174
Prepayments and accrued income	9,983	22,100
Total	406,131	208,257

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	26,080	22,633
Bank borrowings and overdrafts	-	123
Taxation and social security	129,831	62,709
Other creditors	11,561	34,965
Accrued liabilities and deferred income	749,989	562,410
Total	917,461	682,840


	Included in Creditors amounts falling due within one year is £1,664 (2024: £1,045), owed to the Directors. The loans are unsecured, interest-free, and repayable on demand.

7.	Further information regarding the company's financial position
	The Company operates an equity-settled share option scheme, to incentivise key employees. Under the plan, options were granted across 2014 to 2018, the options are over the company’s ordinary shares, with an exercise price of £0.545 and vest over 4 years based on continued service. The options granted have a maximum contractual term of ten years from the date of grant. All options granted historically have a fair value of £5.45455, based on management’s estimate for the fair value at each grant date. The number of share options outstanding as at 31 December 2025 is 2,920 (2024: 3,850). All options outstanding under the scheme had fully vested in 2022 and 2,920 (2024: 3,850) options are exercisable as at end of the year. During the year ended 31 December 2025 and during the period ended 31 December 2024 no options were vested, granted, exercised or forfeited. During the year ended 31 December 2025, 930 options (2024: none) lapsed, accordingly £4,566 (2024: £nil) share based payment charge has been released. The total carrying amount is £14,336 (2024: £18,902) recognised in the share based payment reserve, within Other reserves, in equity.

Further information regarding the company's financial position

The Company operates an equity-settled share option scheme, to incentivise key employees. Under the plan, options were granted across 2014 to 2018, the options are over the company’s ordinary shares, with an exercise price of £0.545 and vest over 4 years based on continued service.

The options granted have a maximum contractual term of ten years from the date of grant. 

All options granted historically have a fair value of £5.45455, based on management’s estimate for the fair value at each grant date. 

The number of share options outstanding as at 31 December 2025 is 2,920 (2024: 3,850). All options outstanding under the scheme had fully vested in 2022 and 2,920 (2024: 3,850) options are exercisable as at end of the year.

During the year ended 31 December 2025 and during the period ended 31 December 2024 no options were vested, granted, exercised or forfeited. 

During the year ended 31 December 2025, 930 options (2024: none) lapsed, accordingly £4,566 (2024: £nil) share based payment charge has been released.

The total carrying amount is £14,336 (2024: £18,902) recognised in the share based payment reserve, within Other reserves, in equity.

8.	Change in reporting period and impact on comparability
	The financial statements have been prepared for the year ended 31 December 2025. The comparative figures cover the period from 1 August 2023 to 31 December 2024, being a period of seventeen months. The comparative period is therefore not directly comparable with the current year.