Company Registration No. 14137496 (England and Wales)
Sproutic Ltd
Unaudited accounts
for the year ended 31 May 2026
Sproutic Ltd
Statement of financial position
as at 31 May 2026
Called up share capital not paid
-
100
Cash at bank and in hand
24,990
3,824
Creditors: amounts falling due within one year
(2,804)
(3,440)
Net current assets
22,186
28,944
Total assets less current liabilities
23,986
29,044
Creditors: amounts falling due after more than one year
-
(2,684)
Called up share capital
100
100
Profit and loss account
23,886
26,260
Shareholders' funds
23,986
26,360
For the year ending 31 May 2026 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 August 2026 and were signed on its behalf by
Deepthi Aravind
Director
Company Registration No. 14137496
Sproutic Ltd
Notes to the Accounts
for the year ended 31 May 2026
Sproutic Ltd is a private company, limited by shares, registered in England and Wales, registration number 14137496. The registered office is 128 City Road, London, London, EC1V 2NX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
4
Tangible fixed assets
Plant & machinery
Sproutic Ltd
Notes to the Accounts
for the year ended 31 May 2026
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2026
2025
Loans from directors
2,004
2,740
At the balance sheet date, the directors loan account was £474 overdrawn (£2025 : -£2,740). This balance is unsecured, interest-free and repayable on demand.
7
Creditors: amounts falling due after more than one year
2026
2025
Taxes and social security
-
2,684
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Business mileage
-
-
2,317
(2,318)
Other business expenditure
-
-
260
(260)
Personal expenditure
-
474
-
474
Payment of share capital
-
100
-
100
(2,740)
3,313
2,577
(2,004)
9
Transactions with related parties
During the year, the company entered into the following transactions with related parties:
- Mr Choorithody - husband of Mrs Aravind, the sole shareholder and director of Sproutic Limited
- The company pays peppercorn rent to Mr Choorithody of £1 per annum (if demanded) to lease and then sublet a property owned by Mr Choorithody
- At the balance sheet date, there is no balance outstanding
- Aspirelane Wealth Planning Ltd - owned by Mr Choorithody, husband of Mrs Aravind, the sole shareholder and director of Sproutic Ltd
- Sproutic Ltd receives rental income from sub letting a property to Aspirelane Wealth Planning Ltd
- In the year ending 31/05/2026, £9,600 of income was received from the sub letting of the property
- At the balance sheet date, there is no balance outstanding
- Mrs Aravind - sole director and shareholder of Sproutic Ltd
- During the year, £500 of dividends were declared and paid to Mrs Aravind
Sproutic Ltd
Notes to the Accounts
for the year ended 31 May 2026
10
Post balance sheet events
The peppercorn arrangement between Sproutic and Mr Choorithody (as mentioned in the related parties note, note 10) expired in July 2026. In August 2026, Sproutic Ltd will be leasing a new commercial office premises with a sub-letting clause.
A new clearance application to restructure Sproutic Ltd into a FIC will be submitted to seek HMRC approval in the following months. This is likely to be actioned after the latest accounts have been filled. The objective is to enable the correct corporate structure that would ensure efficient cashflow and create room for future acquisitions / expansion for the business.
11
Average number of employees
During the year the average number of employees was 1 (2025: 1).
12
Reconciliations on adoption of FRS 102
These financial statements are the company's first financial statements prepared in accordance with FRS 102 Section 1A The Financial Reporting Standard applicable in the UK and Republic of Ireland.
On transition to FRS 102 Section 1A, the directors assessed the impact of adopting the standard and concluded that there were no adjustments required to the company's reported financial position or performance.
Accordingly, there are no reconciliations of equity or profit or loss presented, as the transition had no impact on the amounts previously reported.