SPMT LTD


Director	MALDONADO TURCI, Salvador Pablo


Registered Address	20-22 Wenlock Road
	London
	N1 7GU


Registered Number	13695599 (England and Wales)

Statement of Financial Position
31 October 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		84,388		167,909
Tangible assets	4		3,025		4,497
			87,413		172,406
Current assets
Debtors		229		3,633
Current asset investments		142,822		142,822
Cash at bank and on hand		17,279		4,570
		160,330		151,025
Creditors amounts falling due within one year		(30,901)		(41,393)
Net current assets (liabilities)			129,429		109,632
Total assets less current liabilities			216,842		282,038
Provisions for liabilities			(756)		(1,080)
Net assets			216,086		280,958
Capital and reserves
Called up share capital			1		1
Revaluation reserve			1,915		49,457
Profit and loss account			214,170		231,500
Shareholders' funds			216,086		280,958

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 7 May 2026, and are signed on its behalf by:

MALDONADO TURCI, Salvador Pablo
Director
Registered Company No. 13695599

SPMT LTD

Notes to the Financial Statements
for the year ended 31 October 2025

1.	Accounting policies

	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.

	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.

	Intangible assets
	Intangible assets are stated at their revalued amount at the end of the year except for ACX (Across Protocol). The company holds a balance of ACX (Across Protocol) tokens to enable participation in protocol governance activities that form part of its service delivery. These tokens are retained for continuing operational use rather than for trading or investment purposes. Accordingly, the ACX (Across Protocol) tokens are classified as intangible fixed assets under Section 18 of FRS 102. They are initially measured at cost and subsequently carried at cost less accumulated amortisation and impairment losses. Impairment reviews are performed at each reporting date and any impairment losses are recognised in the profit and loss account.

Intangible assets

Intangible assets are stated at their revalued amount at the end of the year except for ACX (Across Protocol). The company holds a balance of ACX (Across Protocol) tokens to enable participation in protocol governance activities that form part of its service delivery. These tokens are retained for continuing operational use rather than for trading or investment purposes.

Accordingly, the ACX (Across Protocol) tokens are classified as intangible fixed assets under Section 18 of FRS 102. They are initially measured at cost and subsequently carried at cost less accumulated amortisation and impairment losses. Impairment reviews are performed at each reporting date and any impairment losses are recognised in the profit and loss account.

	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.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		1

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 November 24	167,909
	Additions	285,578
	Revaluations	(47,543)
	Disposals	(96,082)
	At 31 October 25	84,388
	Amortisation and impairment
	Charge for year	225,474
	Net book value
	At 31 October 25	84,388
	At 31 October 24	167,909

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 November 24	7,933
	Additions	2,337
	At 31 October 25	10,270
	Depreciation and impairment
	At 01 November 24	3,436
	Charge for year	3,809
	At 31 October 25	7,246
	Net book value
	At 31 October 25	3,025
	At 31 October 24	4,497