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REGISTERED NUMBER: 03864387 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EXECUTIVE ROOMSPACE LIMITED

EXECUTIVE ROOMSPACE LIMITED (REGISTERED NUMBER: 03864387)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


EXECUTIVE ROOMSPACE LIMITED (REGISTERED NUMBER: 03864387)

BALANCE SHEET
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 486,593 499,077
Investments 5 - 2,600
486,593 501,677

CURRENT ASSETS
Debtors 6 1,425,293 1,564,392
Cash at bank and in hand 1,838,409 1,369,775
3,263,702 2,934,167
CREDITORS
Amounts falling due within one year 7 1,029,185 1,104,088
NET CURRENT ASSETS 2,234,517 1,830,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,721,110

2,331,756

PROVISIONS FOR LIABILITIES 9,300 10,500
NET ASSETS 2,711,810 2,321,256

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,999,901 1,999,901
Retained earnings 711,809 321,255
SHAREHOLDERS' FUNDS 2,711,810 2,321,256

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

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

EXECUTIVE ROOMSPACE LIMITED (REGISTERED NUMBER: 03864387)

BALANCE SHEET - continued
31 December 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 Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





C J McCrow - Director


EXECUTIVE ROOMSPACE LIMITED (REGISTERED NUMBER: 03864387)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Executive Roomspace Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03864387 and registered office address is Suite 1 Barry House, 20-22 Worple Road, London SW19 4DH.

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.

Preparation of consolidated financial statements
The financial statements contain information about Executive Roomspace Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Apartments furniture and furnishings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 31 ) .

EXECUTIVE ROOMSPACE LIMITED (REGISTERED NUMBER: 03864387)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Apartments
furniture
Freehold Plant and and
property machinery furnishings
£ £ £
COST
At 1 January 2023 267,017 22,713 411,326
Additions - 31,605 49,082
Disposals - - -
At 31 December 2023 267,017 54,318 460,408
DEPRECIATION
At 1 January 2023 19,284 11,572 211,983
Charge for year 6,428 10,687 62,106
Eliminated on disposal - - -
At 31 December 2023 25,712 22,259 274,089
NET BOOK VALUE
At 31 December 2023 241,305 32,059 186,319
At 31 December 2022 247,733 11,141 199,343

Motor Office
vehicles equipment Totals
£ £ £
COST
At 1 January 2023 52,034 33,975 787,065
Additions - 880 81,567
Disposals - (13,892 ) (13,892 )
At 31 December 2023 52,034 20,963 854,740
DEPRECIATION
At 1 January 2023 30,082 15,067 287,988
Charge for year 5,488 3,482 88,191
Eliminated on disposal - (8,032 ) (8,032 )
At 31 December 2023 35,570 10,517 368,147
NET BOOK VALUE
At 31 December 2023 16,464 10,446 486,593
At 31 December 2022 21,952 18,908 499,077

EXECUTIVE ROOMSPACE LIMITED (REGISTERED NUMBER: 03864387)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2023 2,600
Disposals (2,600 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 2,600

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 843,685 941,324
Amounts owed by group undertakings 217,477 256,024
Prepayments and accrued income 364,131 367,044
1,425,293 1,564,392

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 213,819 155,098
Tax 198,259 120,143
Social security and other taxes 60,785 61,922
VAT 156,888 247,981
Accruals and deferred income 399,434 518,944
1,029,185 1,104,088

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 3,289,597 3,400,601
Between one and five years 1,167,797 2,172,617
4,457,394 5,573,218

9. ULTIMATE CONTROLLING PARTY

The controlling party is ERS Global Limited, company No.12733624 (England & Wales).

The ultimate controlling party is C J McCrow.