REGISTERED NUMBER: 00579438 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

S. P. W. Securities Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Sir S Bowes-Lyon

F Bowes-Lyon

SECRETARY:

Lady C Bowes-Lyon

REGISTERED OFFICE:

St Paul's Walden Bury

Hitchin

Hertfordshire

SG4 8BP

REGISTERED NUMBER:

00579438 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

-

800,000

Investments

5

4,734,565

3,865,357

4,734,565

4,665,357

CURRENT ASSETS

Debtors

6

-

57

Cash at bank

12,250

24,803

12,250

24,860

CREDITORS

Amounts falling due within one year

7

686,461

1,474,867

NET CURRENT LIABILITIES

(674,211

)

(1,450,007

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,060,354

3,215,350

PROVISIONS FOR LIABILITIES

-

56,924

NET ASSETS

4,060,354

3,158,426

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

- non distributable

3,875,466

3,063,505

Retained earnings

183,888

93,921

SHAREHOLDERS' FUNDS

4,060,354

3,158,426

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 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 15 December 2025 and were signed on its behalf by:

Sir S Bowes-Lyon - Director

1.	STATUTORY INFORMATION

S. P. W. Securities Limited 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.

The financial statements have been prepared on a going concern basis. The director considers the basis to be appropriate despite the fact that the balance sheet shows net current liabilities at 31st March 2021. The company is generating sufficient cash flows on a weekly basis together with support of its director to meet its current liabilities.

Should the company be unable to continue trading, adjustments would have been made to adjust the value of the assets to their recoverable amount, to provide for any further liabilities that might arise.

Turnover

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

Tangible fixed assets

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

Land and buildings

-

No depreciation

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

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.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a subsidiary undertaking of St Paul's Walden Bury Estate Company Ltd, a company incorporated in England and Wales.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2024

800,000

Disposals

(800,000

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

800,000

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

Other

interests

investments

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

3,639,377

225,980

3,865,357

Additions

1,015,524

-

1,015,524

Revaluations

(102,145

)

(44,171

)

(146,316

)

At 31 March 2025

4,552,756

181,809

4,734,565

NET BOOK VALUE

At 31 March 2025

4,552,756

181,809

4,734,565

At 31 March 2024

3,639,377

225,980

3,865,357

Cost or valuation at 31 March 2025 is represented by:

Interest

in other

participating

Other

interests

investments

Totals

£

£

£

Valuation in 2016

669,789

169,680

839,469

Valuation in 2018

71,941

102,729

174,670

Valuation in 2019

102,677

28,105

130,782

Valuation in 2020

857,216

(187,419

)

669,797

Valuation in 2021

(509,352

)

98,661

(410,691

)

Valuation in 2022

759,131

123,487

882,618

Valuation in 2023

489,326

(356,314

)

133,012

Valuation in 2024

345,309

33,706

379,015

Valuation in 2025

901,352

(44,170

)

857,182

Cost

865,367

213,344

1,078,711

4,552,756

181,809

4,734,565

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

-

57

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

624,560

1,408,566

Taxation and social security

1,783

7,445

Other creditors

60,118

58,856

686,461

1,474,867

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1,000

Ordinary

£1

1,000

1,000