SPEARWOOD HOLDINGS LTD


Director	Michael Robert Hewitt


Registered Address	Epic House
	18 Darnall Road
	Sheffield
	S9 5AB


Registered Number	12866084 (England and Wales)

Balance Sheet as at
30 September 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		30,796		37,462
			30,796		37,462
Current assets
Stocks		106,318		140,656
Debtors		12,371		28,350
Current asset investments	4	393,639		59
Cash at bank and on hand		46,042		66,289
		558,370		235,354
Creditors amounts falling due within one year		(157,535)		(89,080)
Net current assets (liabilities)			400,835		146,274
Total assets less current liabilities			431,631		183,736
Provisions for liabilities			(1,669)		(196)
Net assets			429,962		183,540
Capital and reserves
Called up share capital			100		100
Profit and loss account			429,862		183,440
Shareholders' funds			429,962		183,540

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 15 April 2026, and are signed on its behalf by:

Michael Robert Hewitt
Director
Registered Company No. 12866084

SPEARWOOD HOLDINGS LTD

Notes to the Financial Statements
for the year ended 30 September 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 October 24	66,286
	Additions	2,668
	At 30 September 25	68,954
	Depreciation and impairment
	At 01 October 24	28,824
	Charge for year	9,334
	At 30 September 25	38,158
	Net book value
	At 30 September 25	30,796
	At 30 September 24	37,462

4.	Current asset investments
	Current asset investments are those which are held for resale or pending their sale and cash on deposit with a maturity date of less than one year held for short-term investment purposes rather than cashflow. Current asset investments are valued at fair value unless they qualify as ‘basic’ financial assets.

5.	Financial instruments
	The company enters into derivative financial instruments, including equity options and futures contracts, to manage exposure to market price risk. Derivative financial instruments are recognised at fair value at the date the contract is entered into and are subsequently remeasured to fair value at each reporting date using a mark‑to‑market valuation basis. All derivatives are classified as financial instruments measured at fair value through profit or loss in accordance with FRS 102 Section 12. Changes in fair value, including both realised and unrealised gains and losses, are recognised in the profit and loss account as they arise. Derivatives with a positive fair value are presented as assets and those with a negative fair value as liabilities. The company does not apply hedge accounting. At the reporting date, the company held the following derivative financial instruments measured on a mark‑to‑market basis: Derivative assets (equity options, futures): 2025 £24,215 (2024: £Nil) Derivative liabilities (equity options, futures): 2025 £Nil (2024: £Nil) Net fair value: 2025 £24,215 (2024: £Nil) The fair value of derivative financial instruments represents the amount that would be received or paid if the instruments were settled at the reporting date. Fair values are determined using market‑based valuation techniques, including quoted market prices for futures contracts and option pricing models for equity options. During the year, the company recognised the following amounts in the profit and loss account in respect of derivative financial instruments: Unrealised fair value gains/(losses): 2025 (£37,561) (2024: £Nil) Realised gains/(losses) on settlement: 2025 £Nil (2024: £Nil) Total recognised in profit or loss: 2025 (£37,561) (2024: £Nil) The company’s use of derivatives exposes it to market price risk. The board monitors derivative positions to ensure they remain consistent with the company’s risk management policies.

Financial instruments

The company enters into derivative financial instruments, including equity options and futures contracts, to manage exposure to market price risk. Derivative financial instruments are recognised at fair value at the date the contract is entered into and are subsequently remeasured to fair value at each reporting date using a mark‑to‑market valuation basis.

All derivatives are classified as financial instruments measured at fair value through profit or loss in accordance with FRS 102 Section 12. Changes in fair value, including both realised and unrealised gains and losses, are recognised in the profit and loss account as they arise. Derivatives with a positive fair value are presented as assets and those with a negative fair value as liabilities.

The company does not apply hedge accounting.

At the reporting date, the company held the following derivative financial instruments measured on a mark‑to‑market basis:

Derivative assets (equity options, futures): 2025 £24,215 (2024: £Nil)
Derivative liabilities (equity options, futures): 2025	£Nil (2024: £Nil)	
Net fair value: 2025	£24,215 (2024: £Nil)

The fair value of derivative financial instruments represents the amount that would be received or paid if the instruments were settled at the reporting date. Fair values are determined using market‑based valuation techniques, including quoted market prices for futures contracts and option pricing models for equity options.

During the year, the company recognised the following amounts in the profit and loss account in respect of derivative financial instruments:

Unrealised fair value gains/(losses): 2025 (£37,561) (2024: £Nil) 
Realised gains/(losses) on settlement: 2025 £Nil (2024: £Nil)
Total recognised in profit or loss: 2025 (£37,561) (2024: £Nil)

The company’s use of derivatives exposes it to market price risk. The board monitors derivative positions to ensure they remain consistent with the company’s risk management policies.