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Registered number: 11655969
SSC SPACE UK LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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SSC SPACE UK LIMITED
REGISTERED NUMBER: 11655969
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2025.
The notes on pages 3 to 7 form part of these financial statements.
Page 1
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SSC SPACE UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 3 to 7 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 3 to 7 form part of these financial statements.
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Page 2
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SSC SPACE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
SSC Space UK Limited is a private limited company incorporated in England & Wales, United Kingdom. The registered office address is Tennyson House, Cambridge Business Park, Cambridge, CB4 0WZ.
The principal activity of the company continued to be the provision of consultancy services.
The company is a fully owned subsidiary of Swedish Space Corporation registered in Sweden at PO Box 4207, 171 04 Solna, Sweden.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The financial statements are rounded to the nearest £.
The financial statements are presented in pounds sterling, which is the functional currency of the company.
The following principal accounting policies have been applied:
At the balance sheet date the company had net liabilities of £691,951. The directors have considered the ability to continue as a going concern and believe it is an appropriate basis as Swedish Space Corporation, the 100% parent, has confirmed it will continue to support the company for at least 18 months from the signing of these financial statements. This will include continuing to provide loan facilities being those noted in Note 11.
Swedish Space Corporation, based in Sweden, is the parent company of SSC Space UK Limited. Swedish Space Corporation deems SSC Space UK Limited to be an important part of the business model, hence the continued support.
The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.
Page 3
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SSC SPACE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Short-term debtors are measured at transaction price, less any impairment.
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CASH AND CASH EQUIVALENTS
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Page 4
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SSC SPACE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Cost of defined contribution scheme
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The average monthly number of employees, including the directors, during the year was as follows:
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Page 5
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SSC SPACE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings
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Prepayments and accrued income
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CASH AND CASH EQUIVALENTS
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CREDITORS: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Page 6
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SSC SPACE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Allotted, called up and fully paid
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100 (2023 - 100) Ordinary shares of £1.000 each
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Profit and loss account
The profit and loss account represents cumulative profits and losses.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,405 (2023 - £27,534). Contributions totalling £6,627 (2023 - £8,350) were payable to the fund at the balance sheet date and are included in creditors.
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RELATED PARTY TRANSACTIONS
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Included in debtors are amounts due from Swedish Space Corporation totalling £100 (2023: £19,601). Included in creditors are amounts payable to Swedish Space Corporation totalling £1,170,104 (2023: £1,195,741). This balance includes loans totalling £1,147,010 (2023: £1,147,010) which are repayable within one year and are subject to annual interest charges of Euribor + 3% and Euribor + 4% respectively payable in arrears on 15 June and 15 December.
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The ultimate parent undertaking is Swedish Space Corporation registered in Sweden at PO Box 4207, 171 04 Solna, Sweden.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 23 September 2025 by Paul Cullen (Senior Statutory Auditor) on behalf of Price Bailey LLP.
Page 7
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