IRIS Accounts Production v24.2.0.383 SC110120 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1101202022-12-31SC1101202023-12-31SC1101202023-01-012023-12-31SC1101202021-12-31SC1101202022-01-012022-12-31SC1101202022-12-31SC110120ns15:Scotland2023-01-012023-12-31SC110120ns14:PoundSterling2023-01-012023-12-31SC110120ns10:Director12023-01-012023-12-31SC110120ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC110120ns10:SmallEntities2023-01-012023-12-31SC110120ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC110120ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC110120ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC110120ns10:FullAccounts2023-01-012023-12-31SC110120ns10:Director22023-01-012023-12-31SC110120ns10:Director32023-01-012023-12-31SC110120ns10:Director42023-01-012023-12-31SC110120ns10:CompanySecretary12023-01-012023-12-31SC110120ns10:RegisteredOffice2023-01-012023-12-31SC110120ns5:CurrentFinancialInstruments2023-12-31SC110120ns5:CurrentFinancialInstruments2022-12-31SC110120ns5:Non-currentFinancialInstruments2023-12-31SC110120ns5:Non-currentFinancialInstruments2022-12-31SC110120ns5:ShareCapital2023-12-31SC110120ns5:ShareCapital2022-12-31SC110120ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-31SC110120ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-31SC110120ns5:RetainedEarningsAccumulatedLosses2023-12-31SC110120ns5:RetainedEarningsAccumulatedLosses2022-12-31SC110120ns5:CostValuation2022-12-31SC110120ns5:AdditionsToInvestments2023-12-31SC110120ns5:DisposalsRepaymentsInvestments2023-12-31SC110120ns5:RevaluationsIncreaseDecreaseInInvestments2023-12-31SC110120ns5:CostValuation2023-12-31
REGISTERED NUMBER: SC110120 (Scotland)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SPS (HOLDINGS) LIMITED

SPS (HOLDINGS) LIMITED (REGISTERED NUMBER: SC110120)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPS (HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A M Duffus
G M Morrison
R Gilliland
S Duffus



SECRETARY: G M Morrison



REGISTERED OFFICE: 216 West George Street
Glasgow
G2 2PQ



REGISTERED NUMBER: SC110120 (Scotland)



ACCOUNTANTS: Bannerman Johnstone Maclay
Chartered Accountants
213 St Vincent Street
Glasgow
G2 5QY



BANKERS: Bank of Scotland
6th Floor
110 St Vincent Street
Glasgow
G2 5ER

SPS (HOLDINGS) LIMITED (REGISTERED NUMBER: SC110120)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,442,363 2,335,556

CURRENT ASSETS
Cash at bank 123,441 134,291

CREDITORS
Amounts falling due within one year 5 1,440 1,653
NET CURRENT ASSETS 122,001 132,638
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,564,364

2,468,194

CREDITORS
Amounts falling due after more than one
year

6

567,703

635,597
NET ASSETS 1,996,661 1,832,597

CAPITAL AND RESERVES
Called up share capital 45,000 45,000
Other reserves 249,948 143,606
Retained earnings 1,701,713 1,643,991
SHAREHOLDERS' FUNDS 1,996,661 1,832,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

SPS (HOLDINGS) LIMITED (REGISTERED NUMBER: SC110120)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





A M Duffus - Director


SPS (HOLDINGS) LIMITED (REGISTERED NUMBER: SC110120)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

SPS (Holdings) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions 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.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including certain creditors, 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


SPS (HOLDINGS) LIMITED (REGISTERED NUMBER: SC110120)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Investments
Investments which have been classified as fixed asset investments, are remeasured to market value at each balance sheet date. Any gains or losses on remeasurement are recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 2,335,556
Additions 381,583
Disposals (381,118 )
Revaluations 106,342
At 31 December 2023 2,442,363
NET BOOK VALUE
At 31 December 2023 2,442,363
At 31 December 2022 2,335,556

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2023 2,442,363

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,192,414 2,191,950

Fixed asset investments were valued on an open market basis on 31 December 2023 by Rathbones .

SPS (HOLDINGS) LIMITED (REGISTERED NUMBER: SC110120)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security - 214
Other creditors 1,440 1,439
1,440 1,653

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 567,703 635,597