REGISTERED NUMBER: SC619722 (Scotland)

Financial Statements For The Year Ended 31 December 2024

for

Sphereone Portal Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

R J Ritchie

REGISTERED OFFICE:

Evolution View Wellheads Crescent

Wellheads Industrial Estate

Dyce

Aberdeen

AB21 7GA

REGISTERED NUMBER:

SC619722 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,951

-

2,951

-

CURRENT ASSETS

Stocks

-

36,000

Debtors

132,606

48,059

Cash at bank

10,279

1,710

142,885

85,769

CREDITORS

Amounts falling due within one year

129,820

159,870

NET CURRENT ASSETS/(LIABILITIES)

13,065

(74,101

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,016

(74,101

)

CREDITORS

Amounts falling due after more than one year

12,531

22,796

NET ASSETS/(LIABILITIES)

3,485

(96,897

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

3,475

(96,907

)

3,485

(96,897

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

R J Ritchie - Director

1.	STATUTORY INFORMATION

Sphereone Portal 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

Going concern

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for software licence and

users provided in the normal course of business, and is shown net of VAT.

Turnover from the provision of software licences is recognised on a straight line basis over the length of the

agreement.

Turnover from the user licences is recognised on a straight line basis over the length of the agreement.

Intangible assets

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated

amortisation and accumulated impairment. Amortisation is provided so as to write off the cost or valuation of

assets over its expected useful life as 1 years straight line.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the

contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the

assets of the Company after deducting all of its liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the

financial asset expire or are settled, or the Company transfers to another party substantially all of the risks

and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all,

significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loan are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one

year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at

transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or

cancelled.

Equity instruments

Equity instruments issued by the Company are recorded at the fair value of cash or other resources received

or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the

initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as

liabilities once they are no longer at the discretion of the Company.

Taxation

Current tax

Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that

have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in

periods different from those in which they are included in the Company's financial statements. Deferred tax is

provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at

the average tax rates that are expected to apply when the timing differences reverse, based on current tax

rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is

set up against deferred tax assets so that the net carrying amount equals the highest amount that is more

likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance

Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and

Loss Account as described below.

Non-financial assets

At each balance sheet date, the company reviews its tangible and intangible assets to determine whether

there is any indication that those assets have suffered an impairment loss. If any such indication exists, the

recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial assets

An asset is impaired where there is objective evidence that, as a result of one or more events that occurred

after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable

amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s

carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold

at the reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

42,031

AMORTISATION

At 1 January 2024

and 31 December 2024

42,031

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

3,373

At 31 December 2024

3,373

DEPRECIATION

Charge for year

422

At 31 December 2024

422

NET BOOK VALUE

At 31 December 2024

2,951

6.	RELATED PARTY DISCLOSURES