ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

15 months ended

31 December

12 months ended

30 September

Registered number: 10175199

STREETSPACE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

STREETSPACE LIMITED

COMPANY INFORMATION

Directors	Nigel James Deacon
	Roy Deacon
	Timothy Charles Deacon
	Deborah Deacon
	Naomi Deacon
	Suzanne Deacon
	Benjamin Napthine


Registered number	10175199


Registered office	Unit P
	Lympne Industrial Park
	Otterpool Lane
	Hythe
	Kent
	CT21 4LR


Independent auditors	Barnes Roffe Audit Limited
	Chartered Accountants & Statutory Auditor
	Charles Lake House
	Claire Causeway
	Crossways Business Park
	Dartford
	Kent
	DA2 6QA

STREETSPACE LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 8
Statement of Comprehensive Income	9
Balance Sheet	10 - 11
Statement of Changes in Equity	12
Notes to the Financial Statements	13 - 30

STREETSPACE LIMITED

STRATEGIC REPORT

FOR THE PERIOD ENDED 31 DECEMBER 2024

Introduction

The directors present their strategic report for the 15 months ended 31 December 2024.

Business review

Streetspace Limited is a UK designer, manufacturer and installer of covered space structures and urban streetscene products. The three brands, Streetspace Structures, metroSTOR and urbanspec, serve specific industry sectors with the same end-to-end consultancy, design and project management approach.

Within education and leisure, Streetspace Structures create permanent, all-weather sport, learning and social environments. MetroSTOR products support safer neighbourhoods and a cleaner world with external storage systems for bins, cycles and mobility scooters that promote recycling and safe green travel initiatives. Urbanspec is our external works brand, providing easy to specify external storage systems, bike parking and street furniture to the construction sector and to specifiers.

The Company had a strong period of trade in the 15 months ended 31 December 2024, as illustrated in the ‘Financial key performance indicators’ section. We saw an increase in demand with both our Streetspace Structures and metroSTOR trading brands, which has attributed to the growth in annualised turnover compared with the previous period. Demand for our Urbanspec brand remained comparable with the prior period.

Research and development

The company continues to invest in R&D, both improving and enhancing existing products as well as listening to the evolving needs of our customers and providing innovative solutions to meet them.

Future developments in the business

We expect to continue strengthening the Streetspace brands via organic growth in the UK, as well as actively developing the metroSTOR brand in key US markets. The company is positioned well in the industry and expects the business to remain resilient in the current period.

Principal risks and uncertainties

The company recognises a number of principal risks and uncertainties, and has developed risk mitigation strategies in response to these strategic, operational and financial risks.

Construction Industry Bias

To avoid the risks of over reliance on the volatile and price sensitive construction market, we continue to diversify and target a wide customer base.

Market Volatility

In order to maintain margin and competitiveness, close attention is paid to liquidity, currency, raw material inflationary pressures and increasing costs.

Competitor Activity

Whilst there is competition in all market sectors, we believe that demand is increasing in certain areas and the continued focus on product development, value and customer service will ensure we continue to get a share.

Page 1

STREETSPACE LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE PERIOD ENDED 31 DECEMBER 2024

Financial key performance indicators

     15 months 12 months
   to 31 December to 30 September
   2024   2023
Turnover £23,760k £18,008k

Gross margin 33.6% 39.1%

Trade debtors £1,700k £1,844k

Trade creditors £1,227k £1,658k

Total stocks £2,754k £3,485k

This report was approved by the board and signed on its behalf.

Roy Deacon

Director

Date: 15 September 2025

Page 2

STREETSPACE LIMITED

DIRECTORS' REPORT

FOR THE PERIOD ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the period ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the period, after taxation, amounted to £1,230,136 (2023 - £1,713,468).

Directors

The directors who served during the period were:

Nigel James Deacon

Roy Deacon

Timothy Charles Deacon

Deborah Deacon

Naomi Deacon

Suzanne Deacon

Benjamin Napthine

Future developments

The company has continued to trade profitably since the reporting date.

Page 3

STREETSPACE LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE PERIOD ENDED 31 DECEMBER 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Post balance sheet events

No matters have arisen since the reporting date that would materially affect these financial statements, or that would otherwise require disclosure.

Auditors

After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.

This report was approved by the board on 15 September 2025 and signed on its behalf.

Roy Deacon

Director

Page 4

STREETSPACE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STREETSPACE LIMITED

Opinion

We have audited the financial statements of Streetspace Limited (the 'company') for the period ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the period then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 5

STREETSPACE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STREETSPACE LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Page 6

STREETSPACE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STREETSPACE LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•The engagement partner ensured that the engagement team collectively had the appropriate

competence, capabilities and skills to identify or recognise non-compliance with applicable

laws and regulations;

•We identified the laws and regulations applicable to the company through discussions with directors and

other management, and from our comercial knowledge and experience of the sector that the company

operates in.

•The specific laws and regulations which we considered may have a direct material effect on the financial

statements or the operations of the company, are as follows;

o Companies Act 2006.

o FRS102.

o ISO9001:2015.

o ISO 14001.

o EN10 90.

o Health and Safety legislation.

o Employment legislation.

o Tax legislation.

• We assessed the extent of compliance with the laws and regulations identified above through making

enquiries of management, reviewing board minutes and inspecting relevant correspondence;

• Laws and regulations were communicated within the audit team at the planning meeting, and during the

audit as any further laws and regulation were identified. The audit team remained alert to instances of

non-compliance throughout the audit; and

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:

•Making enquires of management as to where they consider there was susceptibility to fraud and their

knowledge of actual suspected and alleged fraud;

•Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and

regulations;

•Reviewing the financial statements and testing the disclosures against supporting documentation;

•Performing analytical procedures to identify any unusual or unexpected trends or anomalies;

•Inspecting and testing journal entries to identify unusual or unexpected transactions;

•Assessing whether judgement and assumptions made in determining significant accounting estimates,

including the stage of completion of long term contracts, stock provisions, the useful economic life of

tangible fixed assets and useful economic life of intangible assets were indicative of management bias;

and,

•Investigating the rationale behind significant transactions, or transactions that are unusual or outside the

company’s usual course of business.

Page 7

STREETSPACE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF STREETSPACE LIMITED (CONTINUED)

The areas that we identified as being susceptible to misstatement through fraud were:

•Management bias in the estimates and judgements made;

•Management override of controls; and

•Posting of unusual journals or transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mario Cientanni (Senior Statutory Auditor)

for and on behalf of

Barnes Roffe Audit Limited

Chartered Accountants

Statutory Auditor

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford

Kent

DA2 6QA

Date: 26 September 2025

Page 8

STREETSPACE LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31 DECEMBER 2024

	15 months ended 31 December	12 months ended 30 September
	2024	2023
Note	£	£


Turnover	4	23,759,978	18,008,375
Cost of sales		(15,770,642)	(10,959,543)
Gross profit		7,989,336	7,048,832
Administrative expenses		(6,399,177)	(4,871,263)
Operating profit	5	1,590,159	2,177,569
Interest receivable and similar income	9	33,478	3,322
Interest payable and similar expenses	10	(74,562)	(37,104)
Profit before tax		1,549,075	2,143,787
Tax on profit	11	(318,939)	(430,319)
Profit for the financial period		1,230,136	1,713,468

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 13 to 30 form part of these financial statements.

Page 9

STREETSPACE LIMITED

REGISTERED NUMBER: 10175199

BALANCE SHEET

AS AT 31 DECEMBER 2024

	31 December	30 September
	2024	2023
Note	£	£

Fixed assets
Intangible assets	13		167,996		238,844
Tangible assets	14		1,652,210		1,985,803
			1,820,206		2,224,647
Current assets
Stocks	15	2,753,534		3,484,702
Debtors: amounts falling due after more than one year	16	1,442,314		442,832
Debtors: amounts falling due within one year	16	2,196,809		2,314,078
Cash at bank and in hand	17	1,819,447		739,496
		8,212,104		6,981,108
Creditors: amounts falling due within one year	18	(4,076,268)		(3,387,062)
Net current assets			4,135,836		3,594,046
Total assets less current liabilities			5,956,042		5,818,693
Creditors: amounts falling due after more than one year	19		(451,314)		(830,878)
Provisions for liabilities
Deferred tax	21	(306,751)		(346,436)
Other provisions	22	(244,801)		(214,052)
			(551,552)		(560,488)
Net assets			4,953,176		4,427,327

Capital and reserves
Called up share capital	23	100	100
Share premium account		39,996	39,996
Profit and loss account		4,913,080	4,387,231
		4,953,176	4,427,327

Page 10

STREETSPACE LIMITED

REGISTERED NUMBER: 10175199

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by

Roy Deacon	Timothy Charles Deacon
Director	Director

Date: 15 September 2025

The notes on pages 13 to 30 form part of these financial statements.

Page 11

STREETSPACE LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2024

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 October 2023	100	39,996	4,387,231	4,427,327

Profit for the period	-	-	1,230,136	1,230,136
Dividends: Equity capital	-	-	(704,287)	(704,287)
At 31 December 2024	100	39,996	4,913,080	4,953,176

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 SEPTEMBER 2023

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 October 2022	100	39,996	3,434,095	3,474,191

Profit for the year	-	-	1,713,468	1,713,468
Dividends: Equity capital	-	-	(760,332)	(760,332)
At 30 September 2023	100	39,996	4,387,231	4,427,327

The notes on pages 13 to 30 form part of these financial statements.

Page 12

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	General information

Streetspace Limited is a private company limited by shares and incorporated in England and Wales. The registered office is at Unit P, Lympne Industrial Park, Otterpool Lane, Hythe, Kent, CT21 4LR. The principal activity of the company during the period continued to be that of the manufacture and installation of landscape architectural equipment & supplies.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 judgement in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Streetspace Holdings Limited as at 31 December 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

Page 13

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 14

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

2.5

Leased assets: the company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 15

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.

Depreciation is provided on the following bases:

Plant and machinery	-	25%	Reducing balance and 15 year straight line
Motor vehicles	-	25%	Reducing balance
Office equipment	-	25%	Reducing balance
Other fixed assets	-	33%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of recent purchase orders and invoices. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 16

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

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.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risk and uncertainities.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

2.14

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

2.15

Finance costs

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.

2.16

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 17

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.17

Pensions

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.

2.18

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.19

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 18

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Key accounting estimates and assumptions
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period. If the revision affects both current and future periods then the revision is recognised in the current and future periods.
Critical judgements in applying the company's accounting policies:
Provisions
The company has recognised provisions for dilapidations in its financial statements which requires management to make judgements about the likely residual costs to be incurred upon exiting current property leases.
Long term contracts
The company accounts for turnover on long term contracts on a basis estimated and judged to be appropriate to the stage of completion and when the outcome of the contract can be assessed with reasonable certainty.
Debtor recoverability
The company has made significant judgements relating to the recoverability of amounts due from a connected company of £1,442,314 (2023: £442,832). The balance is reviewed annually for indications of impairment.

Turnover

The whole of the turnover is attributable to the company's principal activity.

All turnover arose within the United Kingdom.

	Exchange differences	(4,149)	1,888
	Other operating lease rentals	605,271	395,974

Page 19

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Fees payable to the company's auditors for the audit of the company's financial statements

20,020

15,825

Wages and salaries	5,120,232	4,458,478
Social security costs	604,632	496,062
Cost of defined contribution scheme	87,948	82,467
	5,812,812	5,037,007

The average monthly number of employees, including the directors, during the period was as follows:

	15 months ended 31 December	12 months ended 30 September
	2024	2023
	No.	No.

Staff	101	110

Page 20

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Directors' emoluments	104,325	83,460
Company contributions to defined contribution pension schemes	1,442	1,243
	105,767	84,703

During the period retirement benefits were accruing to 7 directors (2023 - 7) in respect of defined contribution pension schemes.

	Other interest receivable	33,478	3,322
		33,478	3,322

Finance leases and hire purchase contracts	60,554	31,633
Other interest payable	14,008	5,471
	74,562	37,104

Page 21

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Corporation tax
Current tax on profits for the year	449,813	367,049
Adjustments in respect of previous periods	(91,189)	(84,257)

Total current tax	358,624	282,792

Deferred tax
Origination and reversal of timing differences	(39,685)	147,527
Total deferred tax	(39,685)	147,527


	Tax on profit	318,939	430,319

Page 22

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

11.Taxation (continued)

Profit on ordinary activities before tax

1,549,075

2,143,787

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)	387,269	471,686
Effects of:
Non-tax deductible amortisation of goodwill and impairment	18,001	12,801
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	5,000	3,142
Capital allowances for the period lower than/(in excess of) depreciation	33,108	(119,980)
Deferred tax movement	(39,685)	147,527
Loss/(Profit) on disposal of tangible fixed assets	6,435	(864)
Adjustments to tax charge in respect of prior periods	(91,189)	(84,257)
Short-term timing difference leading to an increase (decrease) in taxation	-	264
Total tax charge for the period/year	318,939	430,319

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

	Dividends	704,287	760,332
		704,287	760,332

Page 23

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

13.	Intangible assets

	Patents	Goodwill	Total
	£	£	£
Cost
At 1 October 2023	8,426	576,042	584,468
Additions	1,157	-	1,157
At 31 December 2024	9,583	576,042	585,625
Amortisation
At 1 October 2023	-	345,624	345,624
Charge for the period on owned assets	-	72,005	72,005
At 31 December 2024	-	417,629	417,629
Net book value
At 31 December 2024	9,583	158,413	167,996
At 30 September 2023	8,426	230,418	238,844

Page 24

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

14.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Office equipment	Other fixed assets	Total
	£	£	£	£	£
Cost or valuation
At 1 October 2023	1,596,083	740,435	163,192	260,442	2,760,152
Additions	43,025	187,743	14,834	50,020	295,622
Disposals	(48,754)	(323,697)	-	(41,526)	(413,977)
At 31 December 2024	1,590,354	604,481	178,026	268,936	2,641,797
Depreciation
At 1 October 2023	344,252	271,484	68,666	89,947	774,349
Charge for the period on owned assets	85,228	528	25,389	44,851	155,996
Charge for the period on financed assets	89,487	169,868	6,705	-	266,060
Disposals	(12,602)	(183,242)	-	(10,974)	(206,818)
At 31 December 2024	506,365	258,638	100,760	123,824	989,587
Net book value
At 31 December 2024	1,083,989	345,843	77,266	145,112	1,652,210
At 30 September 2023	1,251,831	468,951	94,526	170,495	1,985,803


Plant and machinery	461,358	551,877
Motor vehicles	344,442	468,951
Furniture, fittings and equipment	14,764	21,469
	820,564	1,042,297

Page 25

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Raw materials and consumables	1,190,880	1,345,420
Work in progress	1,562,654	2,139,282
	2,753,534	3,484,702

Due after more than one year
Amounts owed by connected company	1,442,314	442,832
	1,442,314	442,832

					31 December	30 September
					2024	2023
					£	£

Due within one year
Trade debtors	1,700,147	1,844,193
Amounts owed by group undertakings	-	34,745
Other debtors	157,161	109,717
Prepayments and accrued income	339,501	325,423
	2,196,809	2,314,078

Page 26

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Cash at bank and in hand	1,819,447	739,496
	1,819,447	739,496

Trade creditors	1,227,711	1,657,948
Amounts owed to group undertakings	946,147	-
Corporation tax	282,951	361,782
Other taxation and social security	514,200	211,070
Obligations under finance lease and hire purchase contracts	357,811	440,155
Other creditors	56,034	52,247
Accruals and deferred income	691,414	663,860
	4,076,268	3,387,062

Net obligations under finance leases and hire purchase contracts	451,314	830,878
	451,314	830,878

Page 27

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Within one year	357,811	440,155
Between 1-5 years	451,314	830,878
	809,125	1,271,033

21.	Deferred taxation

	2024	2023
	£	£

At beginning of year	(346,436)	(198,909)
Charged to profit or loss	39,685	(147,527)
At end of year	(306,751)	(346,436)

	Accelerated capital allowances	(306,751)	(346,436)
		(306,751)	(346,436)

Page 28

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

22.	Provisions

		Dilapidations Provision
		£

	At 1 October 2023	214,052
	Charged to profit or loss	30,749
	At 31 December 2024	244,801

Allotted, called up and fully paid

4 (2023 - 4) Ordinary shares of £1.00 each	4	4
12 (2023 - 12) A shares of £1.00 each	12	12
12 (2023 - 12) B shares of £1.00 each	12	12
12 (2023 - 12) C shares of £1.00 each	12	12
12 (2023 - 12) D shares of £1.00 each	12	12
12 (2023 - 12) E shares of £1.00 each	12	12
12 (2023 - 12) F shares of £1.00 each	12	12
2 (2023 - 2) G shares of £1.00 each	2	2
2 (2023 - 2) H shares of £1.00 each	2	2
20 (2023 - 20) Ordinary 1 shares of £1.00 each	20	20

	100	100

24.	Pension commitments

The company operates a defined contribution pension scheme. During the period contributions of £87,948 (12 months to 30 September 2023: £82,467) were charged to the profit and loss account. There was £9,177 (30 September 2023: £14,198) outstanding at the end of the year in respect of contributions payable.

Page 29

STREETSPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Land and buildings
Not later than 1 year	162,423	121,139
Later than 1 year and not later than 5 years	185,919	141,848
	348,342	262,987

					31 December	30 September
					2024	2023
					£	£

Others
Not later than 1 year	146,612	116,906
Later than 1 year and not later than 5 years	213,041	-
	359,653	116,906

26.

Related party transactions

At the reporting date, £1,442,314 (30 September 2023: £442,832) was owed by a connected company (connected by virtue of common control). This amount is included within other debtors due after more than one year.
During the year the company made sales to a connected company of £482,890 (12 months to 30 September 2023: £6,359).
The company has elected to take the exemption available under FRS 102 to not disclose transactions with other wholly owned entities within the group.

27.	Controlling party

The ultimate controlling party was Streetspace Holdings Limited (Company number: 12487403) by virtue of its 100% shareholding in the company. The address of the registered office is Unit P, Lympne Industrial Park, Otterpool Lane, Hythe, Kent, CT21 4LR.

Page 30