REGISTERED NUMBER: 13980432 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SPUDGUN HOLDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Spurrell

REGISTERED OFFICE:

23 Chantry Lane

Grimsby

N E Lincolnshire

DN31 2LP

REGISTERED NUMBER:

13980432 (England and Wales)

ACCOUNTANTS:

D Flynn Associates Limited

Chartered Certified Accountants

and Business Advisors

23 Chantry Lane

Grimsby

N E Lincolnshire

DN31 2LP

FIXED ASSETS

700,000

Investment property

4

700,000

CURRENT ASSETS

3,806

Debtors

5

24,002

560

Cash at bank

7,178

4,366

31,180

CREDITORS

124,820

Amounts falling due within one year

6

144,734

(120,454

)

NET CURRENT LIABILITIES

(113,554

)

579,546

TOTAL ASSETS LESS CURRENT LIABILITIES

586,446

CREDITORS

(310,000

)

Amounts falling due after more than one year

7

(310,000

)

(68,646

)

PROVISIONS FOR LIABILITIES

(68,646

)

200,900

NET ASSETS

207,800

CAPITAL AND RESERVES

100

Called up share capital

100

205,937

Non-distributable reserve

8

205,937

(5,137

)

Retained earnings

1,763

200,900

207,800

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 18 September 2025 and were signed by:

J Spurrell - Director

1.	STATUTORY INFORMATION

Spudgun Holdings 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.

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.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

700,000

NET BOOK VALUE

At 31 March 2025

700,000

At 31 March 2024

700,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

274,583

Cost

425,417

700,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

13,050

2,900

Other debtors

10,952

906

24,002

3,806

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

-

4,985

Taxation and social security

44,775

10,229

Other creditors

99,959

109,606

144,734

124,820

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

310,000

310,000

8.

RESERVES

Non-distributable

reserve

£

At 1 April 2024

and 31 March 2025

205,937

9.	RELATED PARTY DISCLOSURES

Included within other creditors is a balance of £90,346 owed to Progen Services Limited. (2024 - £105,875)

This being a related party item as both companies are controlled by and connected with the same director.