Sibling Workspace Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 08495728

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		291,688		311,128
Investment Properties	5		2,925,824		2,748,475

			3,217,512		3,059,603
CURRENT ASSETS
Debtors	6	40,125		39,602
Cash at bank and in hand		82,306		23,504

		122,431		63,106
Creditors: Amounts Falling Due Within One Year	7	(321,150 )		(362,258 )

NET CURRENT ASSETS (LIABILITIES)			(198,719 )		(299,152 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,018,793		2,760,451

Creditors: Amounts Falling Due After More Than One Year	8		(2,310,000 )		(2,001,400 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(199,861 )		(154,141 )

NET ASSETS			508,932		604,910

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			508,832		604,810

SHAREHOLDERS' FUNDS			508,932		604,910

Page 1

Page 2

Sibling Workspace Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Edward Walsh

Director

26/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Sibling Workspace Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08495728 . The registered office is Commer House, Station Road, Tadcaster, North Yorkshire, LS24 9JF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% on cost

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

Page 3

Page 4

Sibling Workspace Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	910,728	69,031	979,759
Additions	117,766	1,860	119,626

As at 31 December 2024	1,028,494	70,891	1,099,385

Depreciation
As at 1 January 2024	634,221	34,410	668,631
Provided during the period	125,770	13,296	139,066

As at 31 December 2024	759,991	47,706	807,697

Net Book Value
As at 31 December 2024	268,503	23,185	291,688

As at 1 January 2024	276,507	34,621	311,128

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	2,748,475
Additions	177,349

As at 31 December 2024	2,925,824

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2024	2023
	£	£
Cost	2,309,511	2,132,162

Page 4

Page 5

Sibling Workspace Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	10,238	2,128
Other debtors	27,320	34,907

	37,558	37,035
Due after more than one year
Other debtors	2,567	2,567

	40,125	39,602

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	73,587	128,176
Bank loans and overdrafts	40,000	40,000
Other creditors	196,563	194,082
Taxation and social security	11,000	-

	321,150	362,258

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	1,160,000	1,200,000
Other loans	1,150,000	801,400

	2,310,000	2,001,400

9. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Bank loans and overdrafts	1,200,000		1,240,000

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

11. Related Party Transactions

Included within creditors is £1,150,000 advanced from Participators, including Directors, who together control 80% of the Company’s issued share capital. The loans are interest free and have no repayment terms. In the 2023 accounts the loan was owed to the JP Walsh Life Interest Trust. Interest of £nil was charged on this loan.

Page 5