SPE Energy Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC079314

SPE Energy Limited

Filleted Financial Statements

31 December 2024

SPE Energy Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	5	2,312,134	2,578,396
Tangible assets	6	1,048,329	1,080,383
Investments	7	101	101
		------------	------------
		3,360,564	3,658,880

Current assets

Stocks		752,377	1,075,433
Debtors	8	67,251	329,492
Cash at bank and in hand		–	62,785
		---------	------------
		819,628	1,467,710

Creditors: amounts falling due within one year	9	494,646	1,230,711
		---------	------------
Net current assets		324,982	236,999
		------------	------------
Total assets less current liabilities		3,685,546	3,895,879

Creditors: amounts falling due after more than one year	10	2,217,499	2,445,337
		------------	------------
Net assets		1,468,047	1,450,542
		------------	------------

Capital and reserves

Called up share capital	15,000	15,000
Profit and loss account	1,453,047	1,435,542
	------------	------------
Shareholders funds	1,468,047	1,450,542
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

Mr J C Skipper

Director

Company registration number: SC079314

SPE Energy Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares , registered and incorporated in Scotland. The address of the registered office is 6 Union Plaza (6th Floor), 1 Union Wynd, Aberdeen, AB10 1DQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The nature of the company's business is that there can be considerable unpredictable variation in the timing and amounts of cash inflows. The working capital is provided by a bank overdraft. The continuance of the company is therefore dependent on the ongoing support of the bank. These financial statements have been prepared on a going concern basis which assumes that this support will continue.

Research and development

Research and Development costs incurred on specific projects are capitalised when recoverability can be assessed with reasonable certainty and are amortised in line with expected sales arising from the project. All other development costs are written off in the year of expenditure.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Development costs	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	2% straight line
Plant & Machinery	-	10% straight line
Motor Vehicles	-	25% straight line
Equipment	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 23 (2023: 20 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 January 2024	2,864,884
Additions	22,754
	------------
At 31 December 2024	2,887,638
	------------
Amortisation
At 1 January 2024	286,488
Charge for the year	289,016
	------------
At 31 December 2024	575,504
	------------
Carrying amount
At 31 December 2024	2,312,134
	------------
At 31 December 2023	2,578,396
	------------

6. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	1,131,287	133,906	163,665	51,469	1,480,327
Additions	–	17,830	61,319	10,499	89,648
Disposals	–	–	( 46,620)	–	( 46,620)
	------------	---------	---------	--------	------------
At 31 December 2024	1,131,287	151,736	178,364	61,968	1,523,355
	------------	---------	---------	--------	------------
Depreciation
At 1 January 2024	230,242	79,324	42,552	47,826	399,944
Charge for the year	14,390	22,906	44,591	5,821	87,708
Disposals	–	–	( 12,626)	–	( 12,626)
	------------	---------	---------	--------	------------
At 31 December 2024	244,632	102,230	74,517	53,647	475,026
	------------	---------	---------	--------	------------
Carrying amount
At 31 December 2024	886,655	49,506	103,847	8,321	1,048,329
	------------	---------	---------	--------	------------
At 31 December 2023	901,045	54,582	121,113	3,643	1,080,383
	------------	---------	---------	--------	------------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	101
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	101
	----
At 31 December 2023	101
	----

8. Debtors

	2024	2023
	£	£
Trade debtors	62,436	325,700
Other debtors	4,815	3,792
	--------	---------
	67,251	329,492
	--------	---------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	146,525	106,000
Trade creditors	60,438	207,959
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1	1
Corporation tax	71,210	10,274
Social security and other taxes	54,904	63,183
Other creditors	161,568	843,294
	---------	------------
	494,646	1,230,711
	---------	------------

The bank overdraft and loan is secured by a bond and floating charge over the assets of the company.

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	72,109	184,599
Other creditors	2,145,390	2,260,738
	------------	------------
	2,217,499	2,445,337
	------------	------------

The bank loan is secured by a bond and floating charge over the assets of the company.

11. Summary audit opinion

The auditor's report dated 23 September 2025 was unqualified .

The senior statutory auditor was Louise D McAulay BAcc , for and on behalf of Nelson Gilmour Smith .

12. Related party transactions

There are no transactions with related parties were entered into in the year that are required to be disclosed under the terms of FRS 102 Section 1A.

13. Ethical standards

In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements.