ACCOUNTS - Final Accounts preparation

Company registration number: 05030217

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2025

	SP (2004) LIMITED


SP (2004) LIMITED

COMPANY INFORMATION

Director	James B Sunley


Company secretary	Sunley Securities Limited


Registered number	05030217


Registered office	1 Town Mill
	Bagshot Road
	Chobham
	Woking
	GU24 8BZ


Accountants	Menzies LLP
	Chartered Accountants
	95 Gresham Street
	London
	EC2V 7AB


SP (2004) LIMITED REGISTERED NUMBER:05030217

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		3,504		-
Investment property	5		448,716		550,000
			452,220		550,000
Current assets
Debtors: amounts falling due within one year	6	638,372		521,230
Cash at bank and in hand		4,848		7,346
		643,220		528,576
Creditors: amounts falling due within one year	7	(4,803)		(20,906)
Net current assets			638,417		507,670
Total assets less current liabilities			1,090,637		1,057,670

Net assets			1,090,637		1,057,670

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SP (2004) LIMITED REGISTERED NUMBER:05030217

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

		2025		2024
		£		£

Capital and reserves
Called up share capital	1	1
Profit and loss account	1,090,636	1,057,669
	1,090,637	1,057,670

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

James B Sunley

Director

Date: 10 September 2026

The notes on pages 3 to 7 form part of these financial statements.

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SP (2004) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

SP (2004) Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Other fixed assets

3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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SP (2004) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Investment property

Investment property is carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Employees

The Company has no employees other than the director, who did not receive any remuneration (2024 - £NIL).

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SP (2004) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Tangible fixed assets

		Other fixed assets
		£
	Cost or valuation
	At 1 January 2025	4,000
	Additions	4,350
	At 31 December 2025	8,350
	Depreciation
	At 1 January 2025	4,000
	Disposals	846
	At 31 December 2025	4,846
	Net book value
	At 31 December 2025	3,504
	At 31 December 2024	-

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SP (2004) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2025	550,000
	Additions at cost	84,716
	Disposals	(186,000)
	At 31 December 2025	448,716

The 2025 valuations were made by a director, on an open market value for existing use basis.

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SP (2004) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	4,831	4,261
Amounts owed by group undertakings	628,885	515,629
Other debtors	3,474	-
Prepayments and accrued income	1,182	1,340
	638,372	521,230

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	1,640	7,542
Accruals and deferred income	3,163	13,364
	4,803	20,906

8.	Controlling party

The immediate parent company is Sunley Holdings Limited and the ultimate parent company is Sunley Family Holding Limited, both companies are registered in England and Wales.

The company is exempt from preparing consolidated accounts on the grounds that it is part of a small group.

The directors do not consider there to be an ultimate controlling party.

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