Speychain Limited

(Registration number: 14718933)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Current assets
Debtors	4	32,108	24,143
Cash at bank and in hand		16,573	238
		48,681	24,381
Creditors: Amounts falling due within one year	5	(526,842)	(200,482)
Net liabilities		(478,161)	(176,101)
Capital and reserves
Called up share capital	6	2	2
Profit and loss account		(478,163)	(176,103)
Total equity		(478,161)	(176,101)

Speychain Limited

(Registration number: 14718933)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised for issue by the director on 7 July 2025
 

.........................................

J Von Claer
Director

Speychain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20 Arlington Street
London
SW1A 1RG

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Speychain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

Speychain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Debtors: amounts falling due within one year

	2024 £	2023 £
Other debtors	32,108	24,143
	32,108	24,143

5

Creditors

	Note	2024 £	2023 £
Amounts falling due within one year
Trade creditors		31,648	39,885
Amounts owed to connected parties	7	488,854	154,150
Taxation and social security		3,246	1,652
Other creditors		694	2,395
Accruals		2,400	2,400
		526,842	200,482

6	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2

7	Related party transactions

FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member.
 

Speychain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8	Parent and ultimate parent undertaking

The company's immediate parent company is Spey Holdings Limited, incorporated in England and Wales.