REGISTERED NUMBER: SC682808 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

SPECTRUM WEALTH GROUP LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P E McFadyen

Mrs N Watson

A Creevy

REGISTERED OFFICE:

Suite 4.5

Turnberry House

175 West George Street

Glasgow

G2 2LB

REGISTERED NUMBER:

SC682808 (Scotland)

ACCOUNTANTS:

SD Business Management

Suite 4.5 Turnberry House

175 West George Street

Glasgow

G2 2LB

FIXED ASSETS

Intangible assets

4

1,360

2,388

Tangible assets

5

39,067

27,626

40,427

30,014

CURRENT ASSETS

Debtors

11,106

9,999

Cash at bank

218,371

119,966

229,477

129,965

CREDITORS

Amounts falling due within one year

65,885

19,064

NET CURRENT ASSETS

163,592

110,901

TOTAL ASSETS LESS CURRENT LIABILITIES

204,019

140,915

PROVISIONS FOR LIABILITIES

8,605

6,906

NET ASSETS

195,414

134,009

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

195,114

133,709

195,414

134,009

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 directors acknowledge their 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 Balance Sheet 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

P E McFadyen - Director

Mrs N Watson - Director

A Creevy - Director

1.	STATUTORY INFORMATION

Spectrum Wealth Group Ltd 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.

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.

In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

Short leasehold

-

20% on reducing balance

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

5,136

AMORTISATION

At 1 January 2024

2,748

Amortisation for year

1,028

At 31 December 2024

3,776

NET BOOK VALUE

At 31 December 2024

1,360

At 31 December 2023

2,388

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

43,562

Additions

24,446

At 31 December 2024

68,008

DEPRECIATION

At 1 January 2024

15,936

Charge for year

13,005

At 31 December 2024

28,941

NET BOOK VALUE

At 31 December 2024

39,067

At 31 December 2023

27,626

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

P E McFadyen

Balance outstanding at start of year

-

78

Amounts repaid

-

(78

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

A Creevy

Balance outstanding at start of year

-

-

Amounts advanced

8

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8

-

Mrs N Watson

Balance outstanding at start of year

150

150

Amounts repaid

(150

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

150