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REGISTERED NUMBER: 13925592 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

18 FEBRUARY 2022 TO 31 MARCH 2023

FOR

SPAERA LTD

SPAERA LTD (REGISTERED NUMBER: 13925592)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 18 February 2022 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPAERA LTD

COMPANY INFORMATION
for the Period 18 February 2022 to 31 March 2023







DIRECTOR: S C Bulmer





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 13925592 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

SPAERA LTD (REGISTERED NUMBER: 13925592)

BALANCE SHEET
31 March 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 6,681
Investments 5 750,000
756,681

CURRENT ASSETS
Debtors 6 1,464
Cash at bank 58,431
59,895
CREDITORS
Amounts falling due within one year 7 15,579
NET CURRENT ASSETS 44,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

800,997

CREDITORS
Amounts falling due after more than one
year

8

725,865
NET ASSETS 75,132

CAPITAL AND RESERVES
Called up share capital 9 1,200
Other reserves 302,297
Retained earnings (228,365 )
SHAREHOLDERS' FUNDS 75,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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.

SPAERA LTD (REGISTERED NUMBER: 13925592)

BALANCE SHEET - continued
31 March 2023


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 31 October 2023 and were signed by:





S C Bulmer - Director


SPAERA LTD (REGISTERED NUMBER: 13925592)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 18 February 2022 to 31 March 2023

1. STATUTORY INFORMATION

Spaera 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.

The financial statements have been prepared on a going concern basis as the director is involved in discussions with venture capital funding sources, and anticipate revenue increases within the next 12 months. The director is confident that the company remains a going concern for at least 12 months and 1 day from the signing of the balance sheet.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have Other Financial Instruments as covered by Section 12 of FRS102.

Taxation
Taxation for the period 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 period 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.

SPAERA LTD (REGISTERED NUMBER: 13925592)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 18 February 2022 to 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments in joint ventures
Investments in Joint Ventures are held at cost less accumulated impairment losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 7,187
At 31 March 2023 7,187
DEPRECIATION
Charge for period 506
At 31 March 2023 506
NET BOOK VALUE
At 31 March 2023 6,681

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
Additions 750,000
At 31 March 2023 750,000
NET BOOK VALUE
At 31 March 2023 750,000

The company invested £750,000 into Smart Green Shipping Alliance Ltd in return for a 7.5% equity shareholding.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 1,464

SPAERA LTD (REGISTERED NUMBER: 13925592)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 18 February 2022 to 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 976
Taxation and social security 11,603
Other creditors & accruals 3,000
15,579

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 725,865

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs 725,865

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal
value: £   
1,200 Share capital 1 £1 1,200

1,200 Ordinary shares of £1 each were allotted at par during the period.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S C Bulmer.