Company No: 10976655 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	321,858		301,893
		321,858		301,893
Current assets
Debtors	4	77,911		62,389
Cash at bank and in hand		405,252		614,572
		483,163		676,961
Creditors: amounts falling due within one year	5	( 1,726,837)		( 2,139,828)
Net current liabilities		(1,243,674)		(1,462,867)
Total assets less current liabilities		(921,816)		(1,160,974)
Creditors: amounts falling due after more than one year	6	( 5,784)		( 15,784)
Net liabilities		( 927,600)		( 1,176,758)
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account		( 927,601 )		( 1,176,759 )
Total shareholder's deficit		( 927,600)		( 1,176,758)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Origin Workspace Ltd (registered number: 10976655) were approved and authorised for issue by the Board of Directors on 24 September 2025. They were signed on its behalf by:

R Hingston Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Origin Workspace Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 40 Berkeley Square, Bristol, BS8 1HP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. At the year-end the company had net liabilities of £927,600 (2023 - £1,176,758). Included within liabilities due within one year is £1,019,719 (2023 - £1,135,634) due to entities under common control. The company is reliant on the support of entities under common control for whom those in control have provided assurance of continued support to provide further working capital funds as required and not call amounts owed for repayment.

The directors are satisfied that there are no material uncertainties in respect of the going concern status of the company.

Turnover

Turnover comprises the fair value of the consideration received or receivable for provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	11 years straight line
Plant and machinery	3 years straight line
Office equipment	3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	14		14

3. Tangible assets

	Land and buildings		Plant and machinery		Office equipment		Total
	£		£		£		£
Cost
At 01 January 2024	122,784		18,600		984,758		1,126,142
Additions	108,559		0		70,970		179,529
Disposals	0		( 18,600)		0		( 18,600)
At 31 December 2024	231,343		0		1,055,728		1,287,071
Accumulated depreciation
At 01 January 2024	44,648		18,600		761,001		824,249
Charge for the financial year	13,153		0		146,411		159,564
Disposals	0		( 18,600)		0		( 18,600)
Transfers	0		0		0		0
At 31 December 2024	57,801		0		907,412		965,213
Net book value
At 31 December 2024	173,542		0		148,316		321,858
At 31 December 2023	78,136		0		223,757		301,893

4. Debtors

	2024		2023
	£		£
Trade debtors	42,610		15,832
Other debtors	35,301		46,557
	77,911		62,389

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,000		10,000
Trade creditors	45,982		109,101
Accruals and deferred income	47,864		209,686
Other taxation and social security	61,720		66,926
Other creditors	1,561,271		1,744,115
	1,726,837		2,139,828

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	5,784		15,784

Bank borrowings are guaranteed by Government under the Bounce Back loan scheme. Interest accrues on the loan at 2.5%.

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

8. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £825,000 (2023 - £1,650,862).

9. Related party transactions

At the year end the company owed £1,019,719 (2023 - £1,135,634) in respect of a loan from an entity under common control. Interest on the loan is charged at 6% per annum.

During the year the company was charged £825,000 (2023 - £825,000) of rent through a signed lease agreement by another entity under common control.

In the year, the company made donations of £90,000 (2023 - £250,000) to a charity of which all directors are trustees.