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REGISTERED NUMBER: 11557167 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

FACILITATE EUROPE LTD

FACILITATE EUROPE LTD (REGISTERED NUMBER: 11557167)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FACILITATE EUROPE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







Directors: R J Parker
T D Clark



Secretary: Vistra (UK) Limited



Registered office: Suite 2 First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL



Registered number: 11557167 (England and Wales)



Senior statutory auditor: Stuart Crisp BSc FCA



Auditors: Corrigan Accountants Limited
Statutory Auditor
First Floor
25 King Street
Bristol
BS1 4PB

FACILITATE EUROPE LTD (REGISTERED NUMBER: 11557167)

BALANCE SHEET
30 JUNE 2023

30/6/23 30/6/22
Notes £    £   
FIXED ASSETS
Investments 4 44,469 9,773

CURRENT ASSETS
Debtors 5 1,123,964 1,649,415
Cash at bank 1,295,996 191,881
2,419,960 1,841,296
CREDITORS
Amounts falling due within one year 6 (2,563,796 ) (2,242,416 )
NET CURRENT LIABILITIES (143,836 ) (401,120 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(99,367

)

(391,347

)

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings (99,377 ) (391,357 )
SHAREHOLDERS' FUNDS (99,367 ) (391,347 )

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 Statement of Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





R J Parker - Director


FACILITATE EUROPE LTD (REGISTERED NUMBER: 11557167)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Facilitate Europe 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.

The Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Summary of significant accounting policies
The principal accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied.

Basis of preparing the financial statements and statement of compliance
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements, and they have taken into account a best estimate of the impacts of uncertainties such as the economic outlook. The company is reliant on the ongoing support of the wider group (including related entities under common control) to be able to meet liabilities as they fall due. The directors of the company have received confirmation from a related company that the related company will continue its support for a period no shorter than twelve months from the date of approval of these financial statements. Accordingly, taking into consideration the directors' enquiries regarding the financial position of the wider group and related entities, these financial statements have been prepared on the going concern basis.


Turnover
Turnover includes income receivable from third parties and from related entities for the provision of project management, design, and build services. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Revenue from a contract to provide services is recognised over time as the services are rendered based on costs incurred to date as a percentage of total estimated costs for each contract. Where the amount invoiced to date exceeds the revenue to be recognised that excess is classified as deferred income within liabilities.

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

FACILITATE EUROPE LTD (REGISTERED NUMBER: 11557167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred corporation tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment of debtors are recognised in the Statement of profit and loss in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost or valuation
At 1 July 2022 9,773
Additions 34,696
At 30 June 2023 44,469
Net book value
At 30 June 2023 44,469
At 30 June 2022 9,773

Cost or valuation at 30 June 2023 is represented by:

Shares in
group
undertakings
£   
Cost 44,469

FACILITATE EUROPE LTD (REGISTERED NUMBER: 11557167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Facilitate France SARL
Registered office: 153, boulevard Haussmann,75008 Paris
Nature of business: Management of construction projects
%
Class of shares: holding
Ordinary 100.00

Facilitate Workplace Solutions Spain SL
Registered office: C/Prim 19 - Low right Madrid 28004-Madrid,Spain
Nature of business: Office fitout and management services
%
Class of shares: holding
Ordinary 100.00

Facilitate DMCC
Registered office: Unit 5440, Almas Tower, Jumeirah Lakes Towers, Dubai, United Arab Emirates
Nature of business: Project Management Service and Office Fitout
%
Class of shares: holding
Ordinary 100.00

Facilitate Germany GmbH
Registered office: Pariser Platz 6a, 10117 Berlin
Nature of business: Project Management Service and Office Fitout
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 778,067 1,431,977
Corporation tax 111,164 85,241
VAT 211,627 13,517
Deferred tax asset 23,106 118,680
1,123,964 1,649,415

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade creditors 385,504 255,981
Amounts owed to group undertakings 1,251,659 794,560
Social security and other taxes 60,316 126,578
Accruals and deferred income 866,317 1,065,297
2,563,796 2,242,416

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
10 Ordinary Share Capital 1 10 10

FACILITATE EUROPE LTD (REGISTERED NUMBER: 11557167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

The senior statutory auditor was Stuart Crisp BSc FCA.

The auditor was Corrigan Accountants Limited.

9. RELATED PARTY DISCLOSURES

The company transacted with Facilitate Corporation Pty Ltd in the period, an entity which is under common ownership.
Revenues of £NIL (2022: £NIL) were receivable from Facilitate Corporation Pty Ltd for the year costs of £113,439 (2022: £153,201) were payable to the company and a net creditor balance of £912,355 (2022: £979,525) was due to Facilitate Corporation Pty Ltd at the year end.
Transactions in the year and year-end balances between Facilitate Europe Limited and other entities are as detailed below:

Facilitate DMCC (UAE incorporation)
Loan Payable to Facilitate DMCC - £337,012 (2022: £49,443 Receivable)
Costs paid to Facilitate DMCC. - £12,539 (2022: £NIL)
Revenue received from Facilitate DMCC. - £175,196 (2022: £NIL)

Facilitate Germany
Loan Receivable from Facilitate Germany - £35,573 (2022: £NIL)

Facilitate France SARL
Loan Receivable from Facilitate France - £NIL (2022: £67,049)
Revenue received from Facilitate France - £45,968 (2022: £93,211)
Receivable from Facilitate France - £15,067 (2022: £68,437)

Facilitate USA Inc
Loan Payable to Facilitate USA Inc. - £NIL (2022: £8,402)
Costs paid to Facilitate USA Inc. - £52,944 (2022: £10,500)
Revenue received from Facilitate USA Inc. - £152,538 (2022: £216,796)
Payable to Facilitate USA Inc. - £52,944 (2022: £8,428 receivable)

Facilitate Workplace Solutions Spain SL
Revenue received from Facilitate Spain. - £124,534 (2022: £NIL)

10. PARENT UNDERTAKING

Grimala Pty Ltd (incorporated in Australia) is regarded by the directors as being the company's ultimate parent company.

The largest and smallest group in which the results of the company are consolidated is that by Grimala Pty Ltd. a company incorporated in Australia, with its principal place of business at Level 15, 216 Georges Terrace, Perth, WA, 6000, Australia.