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REGISTERED NUMBER: 03601075 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 December 2023

for

SPWone Ltd

SPWone Ltd (Registered number: 03601075)






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


SPWone Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Sir P J Wood
N Edwards
Mrs D A Edwards





REGISTERED OFFICE: The Garden Room
Cedar Court
The Ridge
Epsom
Surrey
KT18 7EP





REGISTERED NUMBER: 03601075 (England and Wales)





ACCOUNTANTS: McLay, McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

SPWone Ltd (Registered number: 03601075)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,371,275 1,376,476
Investments 5 37,385,456 42,905,688
38,756,731 44,282,164

CURRENT ASSETS
Debtors 6 15,842,630 20,937,581
Cash at bank and in hand 15,641,272 17,175,561
31,483,902 38,113,142
CREDITORS
Amounts falling due within one year 7 (16,641,696 ) (20,620,363 )
NET CURRENT ASSETS 14,842,206 17,492,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,598,937

61,774,943

CREDITORS
Amounts falling due after more than one
year

8

(41,748,915

)

(51,065,247

)
NET ASSETS 11,850,022 10,709,696

CAPITAL AND RESERVES
Called up share capital 103 103
Share premium 9 67,499 67,499
Retained earnings 9 11,782,420 10,642,094
SHAREHOLDERS' FUNDS 11,850,022 10,709,696

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.

SPWone Ltd (Registered number: 03601075)

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 26 September 2024 and were signed on its behalf by:





Sir P J Wood - Director


SPWone Ltd (Registered number: 03601075)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents the amounts invoiced in respect of consultancy and support services and stock sales.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings 10% on cost
Computer equipment 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Financial instruments
Debtors
Trade and other debtors are recognised at the settlement amount due with appropriate allowances for irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank.

Creditors
Trade and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due

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.


SPWone Ltd (Registered number: 03601075)

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Freehold property
The freehold property is held at it's fair value and therefore is not depreciated.

Investments
Fixed asset listed investments are stated at market value, where gains and losses are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 1,353,296 328,089 10,442 1,691,827
DEPRECIATION
At 1 January 2023 - 308,746 6,605 315,351
Charge for year - 2,710 2,491 5,201
At 31 December 2023 - 311,456 9,096 320,552
NET BOOK VALUE
At 31 December 2023 1,353,296 16,633 1,346 1,371,275
At 31 December 2022 1,353,296 19,343 3,837 1,376,476

SPWone Ltd (Registered number: 03601075)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 42,905,688
Additions 7,220,999
Disposals (12,764,058 )
Fair value movement 22,827
At 31 December 2023 37,385,456
NET BOOK VALUE
At 31 December 2023 37,385,456
At 31 December 2022 42,905,688

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2023 (187,909 )
Cost 37,573,365
37,385,456

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 15,842,630 20,937,581

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 529,030 93,376
Other creditors 16,112,666 20,526,987
16,641,696 20,620,363

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 41,748,915 51,065,247

SPWone Ltd (Registered number: 03601075)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 10,642,094 67,499 - 10,709,593
Profit for the year 1,140,326 1,140,326
Fair value movement (22,827 ) - 22,827 -
Transfer 22,827 - (22,827 ) -
At 31 December 2023 11,782,420 67,499 - 11,849,919