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REGISTERED NUMBER: 10460875 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Space Paddington Ltd

Space Paddington Ltd (Registered number: 10460875)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Space Paddington Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S C Kirkham





REGISTERED OFFICE: 8 Hermitage Street
Paddington
London
W2 1BE





REGISTERED NUMBER: 10460875 (England and Wales)





ACCOUNTANTS: Hans Accounting Ltd
Chartered Certified Accountants
Buckingham House East
Buckingham Parade
Stanmore
Middlesex
HA7 4EB

Space Paddington Ltd (Registered number: 10460875)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,235,296 4,219,167

CURRENT ASSETS
Debtors 5 1,939,575 2,114,865
Cash at bank and in hand 234,007 360,187
2,173,582 2,475,052
CREDITORS
Amounts falling due within one year 6 1,517,276 1,285,201
NET CURRENT ASSETS 656,306 1,189,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,891,602

5,409,018

CREDITORS
Amounts falling due after more than one
year

7

5,200,000

5,700,000
NET LIABILITIES (308,398 ) (290,982 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (308,498 ) (291,082 )
(308,398 ) (290,982 )

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

The members have not required the company to obtain an audit of its financial statements for the year 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.

Space Paddington Ltd (Registered number: 10460875)

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 9 April 2024 and were signed by:





S C Kirkham - Director


Space Paddington Ltd (Registered number: 10460875)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Space Paddington 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.

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 each asset over its estimated useful life.

Leasehold property - over the term of the lease
Computer equipment - 33.33% of cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The director has also reviewed budgets, projected cashflows and other relevant information, and, on the basis of this review, is confident that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the director considers it appropriate to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Space Paddington Ltd (Registered number: 10460875)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 4,280,963 8,252 4,289,215
Additions 19,455 2,243 21,698
At 31 March 2023 4,300,418 10,495 4,310,913
DEPRECIATION
At 1 April 2022 62,920 7,128 70,048
Charge for year 4,327 1,242 5,569
At 31 March 2023 67,247 8,370 75,617
NET BOOK VALUE
At 31 March 2023 4,233,171 2,125 4,235,296
At 31 March 2022 4,218,043 1,124 4,219,167

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 95,956 11,196
Other debtors 1,843,619 2,103,669
1,939,575 2,114,865

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 119,227 107,644
Other creditors 1,398,049 1,177,557
1,517,276 1,285,201

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 5,200,000 5,700,000

8. RELATED PARTY DISCLOSURES

ther debtors include a balance of £1,689,505 (2022: £1,923,113) due from Together Paddington Works Ltd, a company related via common directors. Rental income of £318,953 (2022:£265,499) was charged to Together Paddington Works Ltd during the year.

Other creditors include a balance of £1,087,360 (2022:£1,088,730) owed to the parent company Paddington Land Works Limited and £210,000 to other parties related via common directorships.