REGISTERED NUMBER: 03601075 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

SPWone Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Sir P J Wood

N Edwards

Mrs D A Edwards

REGISTERED OFFICE:

3 Mulberry Square

Chelsea Barracks

London

SW1W 8BQ

REGISTERED NUMBER:

03601075 (England and Wales)

ACCOUNTANTS:

McLay, McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

1,370,363

1,371,275

Investments

5

34,244,697

37,385,456

35,615,060

38,756,731

CURRENT ASSETS

Debtors

6

17,139,220

15,842,630

Cash at bank and in hand

18,165,763

15,641,272

35,304,983

31,483,902

CREDITORS

Amounts falling due within one year

7

(507,559

)

(16,641,696

)

NET CURRENT ASSETS

34,797,424

14,842,206

TOTAL ASSETS LESS CURRENT LIABILITIES

70,412,484

53,598,937

CREDITORS

Amounts falling due after more than one year

8

(57,859,914

)

(41,748,915

)

NET ASSETS

12,552,570

11,850,022

CAPITAL AND RESERVES

Called up share capital

103

103

Share premium

9

67,499

67,499

Fair value reserve

9

859,454

-

Retained earnings

9

11,625,514

11,782,420

SHAREHOLDERS' FUNDS

12,552,570

11,850,022

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.

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 29 September 2025 and were signed on its behalf by:

Sir P J Wood - Director

1.	STATUTORY INFORMATION

SPWone 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the amounts invoiced in respect of consultancy and support services.

Tangible fixed assets

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

Fixtures and fittings 10% on cost

Computer equipment 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Financial instruments

Debtors

Trade and other debtors are recognised at the settlement amount due with appropriate allowances for irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank.

Creditors

Trade and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Freehold property

The freehold property is held at its fair value and therefore is not depreciated.

Investments

Fixed asset listed investments are stated at market value, where gains and losses are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

1,353,296

328,089

10,442

1,691,827

Additions

-

-

3,117

3,117

At 31 December 2024

1,353,296

328,089

13,559

1,694,944

DEPRECIATION

At 1 January 2024

-

311,456

9,096

320,552

Charge for year

-

2,710

1,319

4,029

At 31 December 2024

-

314,166

10,415

324,581

NET BOOK VALUE

At 31 December 2024

1,353,296

13,923

3,144

1,370,363

At 31 December 2023

1,353,296

16,633

1,346

1,371,275

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

37,385,456

Additions

19,224,818

Disposals

(21,801,395

)

Fair value movement

(564,182

)

At 31 December 2024

34,244,697

NET BOOK VALUE

At 31 December 2024

34,244,697

At 31 December 2023

37,385,456

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2024

1,145,699

Cost

33,098,998

34,244,697

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

17,139,220

15,842,630

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Taxation and social security

440,213

529,030

Other creditors

67,346

16,112,666

507,559

16,641,696

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

57,859,914

41,748,915

9.

RESERVES

Fair

Retained

Share

value

earnings

premium

reserve

Totals

£

£

£

£

At 1 January 2024

11,782,420

67,499

-

11,849,919

Profit for the year

702,548

702,548

Fair value movement

564,182

-

(564,182

)

-

Deferred tax

286,245

-

(286,245

)

-

Transfer

(1,709,881

)

-

1,709,881

-

At 31 December 2024

11,625,514

67,499

859,454

12,552,467