Cruden Group FSPS Holdings Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10687437 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2025

for

Cruden Group FSPS Holdings Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

C A Brian BSc Eng ACA

REGISTERED OFFICE:

15 Newland

Lincoln

LN1 1XG

REGISTERED NUMBER:

10687437 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cruden Group FSPS Holdings Ltd for the year ended 30 September 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Cruden Group FSPS Holdings Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cruden Group FSPS Holdings Ltd and state those matters that we have agreed to state to the director of Cruden Group FSPS Holdings Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cruden Group FSPS Holdings Ltd and its director for our work or for this report.

It is your duty to ensure that Cruden Group FSPS Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cruden Group FSPS Holdings Ltd. You consider that Cruden Group FSPS Holdings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cruden Group FSPS Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

18 May 2026

CURRENT ASSETS

Debtors

4

1

TOTAL ASSETS LESS CURRENT
LIABILITIES

1

CAPITAL AND RESERVES

Called up share capital

5

1

SHAREHOLDERS' FUNDS

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 18 May 2026 and were signed by:

C A Brian BSc Eng ACA - Director

1.	STATUTORY INFORMATION

Cruden Group FSPS Holdings 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

1

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1

Ordinary

£1

1

6.	EMPLOYEE BENEFIT OBLIGATIONS

The Company operates a UK registered trust based pension scheme that provides defined benefits. Pension benefits are linked to the members' final pensionable salaries and service at their retirement (or date of leaving if earlier). The trustees are responsible for running the Scheme in accordance with the Scheme's Trust Deed and Rules, which sets out their powers. The Trustees of the Scheme are required to act in the best interests of the beneficiaries of the Scheme.

There are two categories of pension scheme members:

- Deferred members: former active members of the Scheme and not yet in receipt of pension.

- Pensioner members: in receipt of pension.

Future funding obligation

The Trustees are required to carry out an actuarial valuation every 3 years. The actuarial valuation of the Scheme performed by the Scheme Actuary for the Trustees as at 30 September 2023 was completed on 13 December 2024. This valuation revealed a funding surplus of £371,000 therefore no contributions are required to be paid over.

The amounts recognised in the balance sheet are as follows:

Defined benefit

pension plans

2025

2024

£

Present value of funded obligations

(9,799,000

)

(10,453,000

)

Fair value of plan assets

11,815,000

12,469,000

2,016,000

Present value of unfunded obligations

-

Derecognition of scheme

surplus

(2,016,000

)

(2,016,000

)

Deficit

-

Net liability

-

The amounts recognised in profit or loss are as follows:

Defined benefit

pension plans

2025

2024

£

Current service cost

-

Net interest

506,000

552,000

Past service cost

-

506,000

552,000

Actual return on plan assets

(163,000

)

1,240,000

Changes in the present value of the defined benefit obligation are as follows:

Defined benefit

pension plans

2025

2024

£

Opening defined benefit obligation

10,453,000

10,401,000

Experience

230,000

(18,000

)

Interest cost

506,000

552,000

Actuarial gains/(losses): Change of basis

(704,000

)

264,000

Benefits paid

(686,000

)

(657,000

)

Other

-

(89,000

)

9,799,000

10,453,000

Changes in the fair value of scheme assets are as follows:

Defined benefit

pension plans

2025

2024

£

Opening fair value of scheme assets

12,469,000

12,025,000

Other

(55,000

)

(139,000

)

Contributions by employer

250,000

-

Benefits paid

(686,000

)

(657,000

)

Interest income

607,000

641,000

Return on plan assets (excluding interest
income)

(770,000

)

599,000

11,815,000

12,469,000

The amounts recognised in other comprehensive income are as follows:

Defined benefit

pension plans

2025

2024

£

Return on plan assets (excluding interest
income)

(770,000

)

599,000

(770,000

)

599,000

The major categories of scheme assets as amounts of total scheme assets are as follows:

Defined benefit

pension plans

2025

2024

£

Diversified Growth Funds

1,350,000

1,234,000

Gilts

1,766,000

2,569,000

Cash

1,027,000

1,304,000

Bonds

7,672,000

7,362,000

11,815,000

12,469,000

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2025

2024

Discount rate

5.70%

5.00%

RPI inflation

2.90%

3.10%

Revaluation of deferred pensions (non-GMP)

2.00%

2.40%

Pension increases: Post 88 GMP

2.30%

Pension increases: Pre 97 non GMP and post 97 pension

2.90%

3.00%

As at 30 September 2025, the surplus in the Cruden Group Limited Retirement Benefits Scheme was £2,016,000 (2024: £2,016,000) In accordance with s28.22 of FRS 102, this surplus has not been recognised in the accounts of Cruden Group FSPS Holdings Limited, which instead report a position of no surplus or deficit.