Spacezero (North) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07720864 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Spacezero (North) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P P Gardner

Mr D M Judge

Mr W Taylor

Mr R McGarrie

SECRETARY:

Mr W Taylor

REGISTERED OFFICE:

Hilton House

26-28 Hilton Street

Manchester

M1 2EH

REGISTERED NUMBER:

07720864 (England and Wales)

ACCOUNTANTS:

Crowther Chartered Accountants

Abacus House

Pennine Business Park

Longbow Close

Huddersfield

West Yorkshire

HD2 1GQ

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

45,294

72,353

45,294

72,353

CURRENT ASSETS

Debtors

6

3,378,098

2,988,413

Cash at bank and in hand

67,244

63,298

3,445,342

3,051,711

CREDITORS

Amounts falling due within one year

7

1,876,716

1,528,264

NET CURRENT ASSETS

1,568,626

1,523,447

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,613,920

1,595,800

CREDITORS

Amounts falling due after more than one
year

8

(27,500

)

(137,500

)

PROVISIONS FOR LIABILITIES

(11,110

)

(17,828

)

NET ASSETS

1,575,310

1,440,472

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

1,574,310

1,439,472

SHAREHOLDERS' FUNDS

1,575,310

1,440,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 8 July 2025 and were signed on its behalf by:

Mr W Taylor - Director

1.	STATUTORY INFORMATION

Spacezero (North) Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Fixtures and fittings

-

25% on cost and 10% on cost

Computer equipment

-

25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

At each reporting date the company assess whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2024 - 43 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

Website

Totals

£

COST

At 1 April 2024

and 31 March 2025

250,000

12,250

262,250

AMORTISATION

At 1 April 2024

and 31 March 2025

250,000

12,250

262,250

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

COST

At 1 April 2024

42,933

212,164

70,681

325,778

Additions

-

3,143

At 31 March 2025

42,933

212,164

73,824

328,921

DEPRECIATION

At 1 April 2024

29,283

161,199

62,943

253,425

Charge for year

4,304

22,324

3,574

30,202

At 31 March 2025

33,587

183,523

66,517

283,627

NET BOOK VALUE

At 31 March 2025

9,346

28,641

7,307

45,294

At 31 March 2024

13,650

50,965

7,738

72,353

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

1,737,755

1,127,507

Amounts owed by associates

680,344

622,495

Other debtors

959,999

1,238,411

3,378,098

2,988,413

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts (see note 9)

110,000

Trade creditors

505,135

303,692

Amounts owed to associates

27,461

16

Taxation and social security

86,566

172,478

Other creditors

1,147,554

942,078

1,876,716

1,528,264

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans (see note 9)

27,500

137,500

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

Amounts falling due within one year or on demand:

Bank loans

110,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

27,500

137,500

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

Within one year

3,764

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Bank loans

137,500

247,500

Other loans

324,131

232,545

461,631

480,045

Lloyds Bank Commercial Finance Ltd hold a fixed and floating charge over all assets of the company.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors: amounts falling due within one year is a loan to the directors of £165,090 (2024 - £255,653). The loan is charged interest at 2.25% per annum and the loan is to be repaid within 9 months of the company's period end.

Included in creditors: amounts falling due within one year is a loan from the directors of £nil (2024 - £16,238). The loan is interest free with no fixed date for repayment.

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £27,461 (2024 - (£53,961)) to Form Design Associates Limited. The directors of Spacezero (North) Limited are also directors of Form Design Associates Limited.

At the balance sheet date, the company was owed £12,222 (2024 - £12,222) from Spacezero (South) Limited. The directors of Spacezero (North) Limited are also directors of Spacezero (South) Limited.

At the balance sheet date, the company was owed £6,382 (2024 - £5,614) from Intrafield Limited. The directors of Spacezero (North) Limited are also directors of Intrafield Limited.

At the balance sheet date, the company was owed £653,554 (2024 - £547,588) from Kampus International Ltd. The directors of Spacezero (North) Limited are also directors of Kampus International Ltd.

At the balance sheet date, the company was owed £8,186 (2024 - £3,110) from Spacezero HK. The directors of Spacezero (North) Limited are also directors of Spacezero HK.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr W Taylor and Mr P P Gardner.