B2Space Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 10220212

		31 December 2024		30 June 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	5		111,296		141,648
Tangible Assets	6		21,137		23,014
Investments	7		1,278,343		517,061

			1,410,776		681,723
CURRENT ASSETS
Debtors	8	91,815		145,492
Cash at bank and in hand		132,155		266,018

		223,970		411,510
Creditors: Amounts Falling Due Within One Year	9	(56,413 )		(44,511 )

NET CURRENT ASSETS (LIABILITIES)			167,557		366,999

TOTAL ASSETS LESS CURRENT LIABILITIES			1,578,333		1,048,722

Creditors: Amounts Falling Due After More Than One Year	10		(561,902 )		(23,508 )

NET ASSETS			1,016,431		1,025,214

CAPITAL AND RESERVES
Called up share capital			5		5
Share premium account			1,095,409		1,095,409
Profit and Loss Account			(78,983 )		(70,200 )

SHAREHOLDERS' FUNDS			1,016,431		1,025,214

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B2Space Limited

Balance Sheet (continued)

As At 31 December 2024

For the period 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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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

Valentin Canales

Director

10/09/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

B2Space Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10220212 . The registered office is Unit 19a Maesglas Industrial Estate, Newport, Wales, NP20 2NN.

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, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. The rate of amortisation is calculated at 10% Straight Line

2.4. 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:

Leasehold	5% Straight Line
Plant & Machinery	20% Reducing Balance
Computer Equipment	20% Straight Line

2.5. Financial Instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and nonputtable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Government Grant

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

2.8. Reseach and Development

Expenditure on research and development is written off in the year in which it is incurred.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 7 (2023: 14)

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B2Space Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

4. Prior Period Adjustment

During the current financial year, the directors identified that an amount of £517,061 previously recognised as a debtor due from a group undertaking in the prior year was more appropriately classified as an investment in a subsidiary.

Following a review of the underlying transaction and the commercial substance of the arrangement, it was determined by the director's that the amount in question represented a capital contribution to the subsidiary rather than a recoverable loan. Accordingly, the prior year financial statements have been restated to reflect this correction.

There was no impact on profit or loss or cash flows for the prior year as a result of this restatement. The change represents a reclassification to better reflect the nature of the transaction.

The effect of this restatement is as follows:

As at 30 June 2023 Originally Stated (£) Adjustment (£) Restated (£)

Debtors: Amounts due from group undertakings £517,061 (£517,061) £0

Investments in Group Undertakings £0 £517,061 £517,061

5. Intangible Assets

	Other
	£
Cost
As at 1 July 2023	202,356

As at 31 December 2024	202,356

Amortisation
As at 1 July 2023	60,708
Provided during the period	30,352

As at 31 December 2024	91,060

Net Book Value
As at 31 December 2024	111,296

As at 1 July 2023	141,648

6. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 July 2023	-	18,867	19,435	38,302
Additions	4,513	723	2,933	8,169

As at 31 December 2024	4,513	19,590	22,368	46,471

Depreciation
As at 1 July 2023	-	7,148	8,140	15,288
Provided during the period	401	3,638	6,007	10,046

As at 31 December 2024	401	10,786	14,147	25,334

Net Book Value
As at 31 December 2024	4,112	8,804	8,221	21,137

As at 1 July 2023	-	11,719	11,295	23,014

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B2Space Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

7. Investments

	Unlisted
	£
Cost
As at 1 July 2023	517,061
Additions	761,282

As at 31 December 2024	1,278,343

Provision
As at 1 July 2023	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	1,278,343

As at 1 July 2023	517,061

Investments in subsidiaries and other group undertakings are stated at cost less provision for any impairment. Cost includes the fair value of consideration paid and any directly attributable costs of acquisition.

Where there is objective evidence that an investment is impaired, its carrying amount is reduced to its recoverable amount and the difference is recognised as an expense in the profit and loss account.

Additional contributions made to subsidiaries that do not result in the issue of further shares are treated as part of the cost of investment where they reflect an increase in the parent’s net investment in the subsidiary.

During the year, the company recognised an increase in its investment of £761,282. The investment arose from a capital contribution made to the subsidiary, without the issue of additional shares. The capital contribution was partly funded by a loan received from the same subsidiary (£545,809). Although the transactions are related, they are accounted for separately in accordance with their legal form and commercial substance.

8. Debtors

	31 December 2024	30 June 2023
	£	£
Due within one year
Trade debtors	15,748	129,816
Other debtors	76,067	15,676

	91,815	145,492

9. Creditors: Amounts Falling Due Within One Year

	31 December 2024	30 June 2023
	£	£
Trade creditors	20,405	6,206
Bank loans and overdrafts	10,060	9,694
Other creditors	25,948	17,660
Taxation and social security	-	10,951

	56,413	44,511

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B2Space Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

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

	31 December 2024	30 June 2023
	£	£
Bank loans	8,144	23,508
Other loans	553,758	-

	561,902	23,508

At the reporting date, the company owed £553,758.05 to its subsidiary in respect of a loan received during the year. The funds were used by the company to make a capital contribution back to the subsidiary, and the loan remains outstanding at the year-end.

The loan is unsecured, interest bearing and repayable by 28 July 2029.

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