Unity Flexible Office Space Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09169046 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Unity Flexible Office Space Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R P Webb

S P Finnegan

REGISTERED OFFICE:

First Floor Longbow House

Chiswell Street

London

EC1Y 4TW

REGISTERED NUMBER:

09169046 (England and Wales)

ACCOUNTANTS:

Guymer King Limited

4 Stone Street Court

Stone Street

Hadleigh

Suffolk

IP7 6HY

SOLICITORS:

Spencer West LLP

Longbow House

20 Chiswell Street

London

EC1Y 4TW

FIXED ASSETS

Intangible assets

4

1,005

2,757

Tangible assets

5

1,646,889

1,353,157

1,647,894

1,355,914

CURRENT ASSETS

Debtors

6

1,364,994

487,078

Cash at bank

470,327

212,812

1,835,321

699,890

CREDITORS

Amounts falling due within one year

7

2,984,449

1,846,811

NET CURRENT LIABILITIES

(1,149,128

)

(1,146,921

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

498,766

208,993

CREDITORS

Amounts falling due after more than
one year

8

(1,829,943

)

(823,193

)

PROVISIONS FOR LIABILITIES

-

(63,842

)

NET LIABILITIES

(1,331,177

)

(678,042

)

CAPITAL AND RESERVES

Called up share capital

200

Share premium

46,970

Retained earnings

(1,378,347

)

(725,212

)

(1,331,177

)

(678,042

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

R P Webb - Director

1.	STATUTORY INFORMATION

Unity Flexible Office Space Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Assets subject to finance leases - Term of lease

Fittings, fixtures and equipment - Useful economic life

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rent-free periods

Provisions are made on a straight-line basis over the duration of the lease term on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

18,819

AMORTISATION

At 1 January 2024

16,062

Charge for year

1,752

At 31 December 2024

17,814

NET BOOK VALUE

At 31 December 2024

1,005

At 31 December 2023

2,757

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

2,898,826

Additions

727,114

At 31 December 2024

3,625,940

DEPRECIATION

At 1 January 2024

1,545,669

Charge for year

433,382

At 31 December 2024

1,979,051

NET BOOK VALUE

At 31 December 2024

1,646,889

At 31 December 2023

1,353,157

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

-

4,089

Amounts owed by associates

-

28,001

Other debtors

1,364,994

454,988

1,364,994

487,078

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

5,833

Finance leases

103,333

-

Trade creditors

1,971,314

1,043,175

Amounts owed to associates

-

49,930

Taxation and social security

36,288

76,551

Other creditors

867,681

671,322

2,984,449

1,846,811

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.24

31.12.23

£

Bank loans

9,167

20,000

Finance leases

56,806

203,473

Trade creditors

1,043,300

549,850

Amounts owed to associates

99,930

-

Other creditors

620,740

49,870

1,829,943

823,193

9.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £7,683,230 (2023: £3,552,898)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr SP Finnegan and Mr RP Webb have given joint and several personal guarantees on the finance agreements taken on by the company which amount to £160,139 at 31 December 2024 (2023: £203,473).