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REGISTERED NUMBER: SC746895 (Scotland)

Unaudited Financial Statements for the Year Ended 5 April 2025

for

SPYHS LIMITED

| SPYHS LIMITED (REGISTERED NUMBER: SC746895) |

Contents of the Financial Statements

for the Year Ended 5 April 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Chartered Accountants' Report | 5 |

| SPYHS LIMITED |

Company Information

for the Year Ended 5 April 2025

| DIRECTOR: | S P Stevenson

| REGISTERED OFFICE: | 29 Brandon Street

| Hamilton

| ML3 6DA

| REGISTERED NUMBER: | SC746895 (Scotland)

| ACCOUNTANTS: | Sharles Ltd

| Chartered Accountants

| 29 Brandon Street

| Hamilton

| ML3 6DA

| SPYHS LIMITED (REGISTERED NUMBER: SC746895) |

Balance Sheet

5 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Investments | 4 | 4,484,208 |  | 2,964,267 |  |

Cash at bank | 515,118 |  | 1,974,463 |  |

4,999,326 |  | 4,938,730 |  |

CREDITORS

Amounts falling due within one year | 5 | 4,508,806 |  | 4,511,053 |  |

NET CURRENT ASSETS | 490,520 |  | 427,677 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 490,520 |  | 427,677 |  |

PROVISIONS FOR LIABILITIES | 79,399 |  | 85,545 |  |

NET ASSETS | 411,121 |  | 342,132 |  |

CAPITAL AND RESERVES

Called up share capital | 200 |  | 200 |  |

Retained earnings | 410,921 |  | 341,932 |  |

411,121 |  | 342,132 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 17 September 2025 and were signed by:

S P Stevenson - Director

| SPYHS LIMITED (REGISTERED NUMBER: SC746895) |

Notes to the Financial Statements

for the Year Ended 5 April 2025

1. | STATUTORY INFORMATION

| SPYHS 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.

| 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.

| There were no material departures from that standard.

| The financial statements have been prepared on a going concern basis.

| 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.

| 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.

| Current asset investments

| Current asset investments in listed investments or managed funds are stated at their fair value. Any changes in fair value are recognised in the income statement.

| Investment income

| Interest receivable on bank accounts and deposits is recognised in the profit and loss account as it is received.

| Dividend income from listed investments is recognised in the profit and loss account as they are received.

| Realised gains and losses on the disposal of listed investments are recognised in the profit and loss account on the date of disposal.

| Unrealised gains and losses on listed investments are recognised in the profit and loss account based on the market value at each period end.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

| SPYHS LIMITED (REGISTERED NUMBER: SC746895) |

Notes to the Financial Statements - continued

for the Year Ended 5 April 2025

4. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Listed investments | 4,484,208 |  | 2,964,267 |  |

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Taxation and social security | 13,248 |  | 16,665 |  |

| Other creditors | 4,495,558 |  | 4,494,388 |  |

4,508,806 |  | 4,511,053 |  |

6. | RELATED PARTY DISCLOSURES

| At the period end the company owed £3,494,388 to the director. This balance is unsecured, interest free and has no fixed payment terms.

| At the period end the company owed £1,000,000 to its shareholders. This balance is unsecured, interest free and has no fixed payment terms.

Chartered Accountants' Report to the Director

on the Unaudited Financial Statements of

SPYHS Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SPYHS Limited for the year ended 5 April 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of SPYHS Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SPYHS Limited and state those matters that we have agreed to state to the director of SPYHS Limited in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that SPYHS Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SPYHS Limited. You consider that SPYHS Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SPYHS Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

17 September 2025