REGISTERED NUMBER: 02929932 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Sparwave Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S N Johnson

L M Johnson

D Johnson

SECRETARY:

D Johnson

REGISTERED OFFICE:

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

REGISTERED NUMBER:

02929932 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Investment property

3

820,000

820,000

CURRENT ASSETS

Debtors

4

6,764

-

Cash at bank

74,932

67,855

81,696

67,855

CREDITORS

Amounts falling due within one year

5

50,970

43,698

NET CURRENT ASSETS

30,726

24,157

TOTAL ASSETS LESS CURRENT LIABILITIES

850,726

844,157

CREDITORS

Amounts falling due after more than one year

6

-

(1,480

)

PROVISIONS FOR LIABILITIES

(100,413

)

(100,413

)

NET ASSETS

750,313

742,264

CAPITAL AND RESERVES

Called up share capital

121

121

Share premium

93,979

93,979

Fair value reserve

7

438,420

438,420

Retained earnings

217,793

209,744

750,313

742,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 13 October 2026 and were signed on its behalf by:

S N Johnson - Director

1.	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.

Turnover

Turnover is represented by net invoiced rent and is recognised upon receipt.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Basic financial instruments are recognised at amortised cost, derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

2.	EMPLOYEES AND DIRECTORS

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

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

820,000

NET BOOK VALUE

At 31 December 2025

820,000

At 31 December 2024

820,000

Fair value at 31 December 2025 is represented by:

£

Valuation in 2020

438,118

Valuation in 2000

45,000

Valuation in 1996

55,715

Cost

281,167

820,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

6,764

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

1,480

2,487

Taxation and social security

16,520

8,598

Other creditors

32,970

32,613

50,970

43,698

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

-

1,480

7.

RESERVES

Fair

value

reserve

£

At 1 January 2025

and 31 December 2025

438,420