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REGISTERED NUMBER: 12435967















Unaudited Financial Statements for the Year Ended 31 December 2024

for

CoSpace Group Stevenage No25 Limited

CoSpace Group Stevenage No25 Limited (Registered number: 12435967)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CoSpace Group Stevenage No25 Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr W D Stokes
Mr A D Thomas





REGISTERED OFFICE: 25 Town Square
Stevenage
Hertfordshire
SG1 1BP





REGISTERED NUMBER: 12435967






CoSpace Group Stevenage No25 Limited (Registered number: 12435967)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 138,112 153,605

CURRENT ASSETS
Debtors 6 1,050,309 454,881
Cash at bank 74,720 44,232
1,125,029 499,113
CREDITORS
Amounts falling due within one year 7 1,073,826 666,519
NET CURRENT ASSETS/(LIABILITIES) 51,203 (167,406 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,315

(13,801

)

CREDITORS
Amounts falling due after more than one
year

8

(193,474

)

(77,128

)

PROVISIONS FOR LIABILITIES (7,957 ) -
NET LIABILITIES (12,116 ) (90,929 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (12,216 ) (91,029 )
SHAREHOLDERS' FUNDS (12,116 ) (90,929 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

CoSpace Group Stevenage No25 Limited (Registered number: 12435967)

Balance Sheet - continued
31 December 2024


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:




Mr W D Stokes - Director



Mr A D Thomas - Director


CoSpace Group Stevenage No25 Limited (Registered number: 12435967)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
25 Town Square
Stevenage
Hertfordshire
SG1 1BP
England

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of rental income services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Contract revenue recognition
Revenue received from the provision of serviced office contracts is recognised over the term of the contract on the accruals basis.

Tangible fixed assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated
depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition
and installation.

Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under
construction over their estimated useful lives, as follows:

Leasehold improvements - 10% on cost
Fixtures & fittings - 30% reducing balance
Office equipment - 25% on cost


CoSpace Group Stevenage No25 Limited (Registered number: 12435967)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Going concern
At the balance sheet date the company had net current liabilities of £12,216 (2023: £90,929) and
retained losses of £12,216 (2023: £91,029). The company is financially supported by the group. On
this basis, the directors feel it is appropriate to prepare these financial statements on a going concern basis.

CoSpace Group Stevenage No25 Limited (Registered number: 12435967)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 96,449 162,136 10,674 269,259
Additions 9,099 12,144 1,004 22,247
At 31 December 2024 105,548 174,280 11,678 291,506
DEPRECIATION
At 1 January 2024 27,733 83,898 4,023 115,654
Charge for year 9,862 25,000 2,878 37,740
At 31 December 2024 37,595 108,898 6,901 153,394
NET BOOK VALUE
At 31 December 2024 67,953 65,382 4,777 138,112
At 31 December 2023 68,716 78,238 6,651 153,605

Included within the net book value of land and buildings above is £67,953 (2023 - £68,716) in respect of long term leasehold improvements and £Nil (2023 - £Nil) in respect of long leasehold land and buildings.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 102,078 43,245
Amounts owed by group undertakings 781,523 273,379
Other debtors 83,544 83,544
Deferred tax asset - 13,070
Prepayments 83,164 41,643
1,050,309 454,881

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 5,768 5,626
Other loans (see note 9) 36,000 -
Trade creditors 188,901 130,647
Amounts owed to group undertakings 457,890 304,721
VAT 17,594 9,085
Other creditors 234,130 133,267
Accruals and deferred income 133,543 83,173
1,073,826 666,519

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 31,111 36,879
Other loans (see note 9) 129,000 -
Accruals and deferred income 33,363 40,249
193,474 77,128

CoSpace Group Stevenage No25 Limited (Registered number: 12435967)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


9. LOANS

Included under loans and borrowings is the company acquired Bounce Back loan (BBL) which is managed by the British Business Bank on behalf of, and with the financial backing of, the secretary of state for business, energy and industrial strategy. Included as repayable <1 year is £5,768 and >1 year is £31,110.

Included under loans and borrowings is the company acquired Funding Circle Loan. Included as repayable <1 year is £36,000 and >;1 year is £129,000.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

11. RELATED PARTY TRANSACTIONS

At the balance sheet date the company was owed £275,469 (2023: owed to £4,041) from CoSpace Group Limited, its parent company. There is no interest charged and the amount is fully repayable on demand.

At the balance sheet date the company owed £49,976 (2023: £28,699) to CoSpace Group Reading QH limited, a company connected with a shared parent. There is no interest charged and the amount is fully repayable on demand.

At the balance sheet date the company was owed £98,041 (2023: £1,397) from CoSpace Group MK EH limited, a company connected with a shared parent. There is no interest charged and the amount is fully repayable on demand.

At the balance sheet date the company was owed £100 (2023: £NIL) from CoSpace Group Bath MP limited, a company connected with a shared parent. There is no interest charged and the amount is fully repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Cospace Group Limited, incorporated in United Kingdom & Wales.

The ultimate controlling party is Mr W Stokes and Mr A Thomas, by virtue of their shareholding in the parent company.