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Registration number: 14741067

Spaces Holdco Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 20 March 2023 to 31 March 2024

 

Spaces Holdco Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Spaces Holdco Ltd

Company Information

Directors

R Bhala

R I Lunga

M G Silver

Registered office

Unit 1-2
Rainbow Court
Armstrong Way
Yate
Bristol
BS37 5NG

Accountants

Burton Sweet Limited
Chartered Accountants and Business advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Spaces Holdco Ltd

(Registration number: 14741067)
Balance Sheet
31 March 2024

Note

2024
£

Fixed assets

 

Investments

4

4,750,046

Current assets

 

Debtors

5

7,210

Cash at bank and in hand

 

349,515

 

356,725

Creditors: Amounts falling due within one year

6

(3,381,830)

Net current liabilities

 

(3,025,105)

Total assets less current liabilities

 

1,724,941

Creditors: Amounts falling due after more than one year

6

(2,121,421)

Net liabilities

 

(396,480)

Capital and reserves

 

Called up share capital

10

Retained earnings

(396,490)

Shareholders' deficit

 

(396,480)

 

Spaces Holdco Ltd

(Registration number: 14741067)
Balance Sheet
31 March 2024

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

.........................................
R I Lunga
Director

.........................................
M G Silver
Director

 

Spaces Holdco Ltd

Notes to the Unaudited Financial Statements
Period from 20 March 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1-2
Rainbow Court
Armstrong Way
Yate
Bristol
BS37 5NG

These financial statements were authorised for issue by the Board on 23 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors, having considered the return on the company’s investment and loan servicing requirements, have adopted the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.

 

Spaces Holdco Ltd

Notes to the Unaudited Financial Statements
Period from 20 March 2023 to 31 March 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

 

Spaces Holdco Ltd

Notes to the Unaudited Financial Statements
Period from 20 March 2023 to 31 March 2024

4

Investments

2024
£

Investments in subsidiaries

4,750,046

Subsidiaries

£

Cost or valuation

Additions

4,750,046

Provision

Carrying amount

At 31 March 2024

4,750,046

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

Subsidiary undertakings

JM & SK Holdings Ltd

United Kingdom

Ordinary

100%

5

Debtors

2024
£

Other debtors

7,210

7,210

 

Spaces Holdco Ltd

Notes to the Unaudited Financial Statements
Period from 20 March 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

7

277,778

Accruals and deferred income

 

3,000

Other creditors

 

3,101,052

 

3,381,830

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

7

1,606,572

Other non-current financial liabilities

 

514,849

 

2,121,421

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

1,606,572

Current loans and borrowings

2024
£

Bank borrowings

277,778