Registered number
09877507
SPACES 175 LONG LANE LIMITED
Filleted Accounts
31 December 2024
SPACES 175 LONG LANE LIMITED
Registered number: 09877507
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Current assets
Stocks 358,452 358,452
Creditors: amounts falling due within one year 3 (362,701) (362,406)
Net current liabilities (4,249) (3,954)
Net liabilities (4,249) (3,954)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (5,249) (4,954)
Shareholders' funds (4,249) (3,954)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S K Bhunnoo
Director
Approved by the board on 19 September 2025
SPACES 175 LONG LANE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities. The Company is supported through loans from shareholders. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the shareholders will continue to support the Company. After making enquiries, and given the insignificant level of costs incurred in this Company, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell, which is equivalent to the net realisable value. Stock represent investment properties held for resale. Borrowing costs associated with refinancing of stock are capitalised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to associates 77,628 77,628
Accruals 548 253
Other creditors 284,525 284,525
362,701 362,406
4 Related party transactions
No remuneration was paid to the director in the year nor in 2023. The director is the only key management personnel of the company.

Included within amounts owed to associates is an unsecured amount of £77,628 (2023: amounts owed by associates £77,628) owed to Spaces Property Group Limited, a minority shareholder of the company. This amount is interest-free and repayable on demand.

Included within other creditors is an unsecured loan of £74,875 (2023: £74,875) owed to K Kainth, a minority shareholder of the company. This loan is interest-free and repayable on demand.

Included within other creditors is an unsecured loan of £74,875 (2023: £74,875) owed to Z Bhunnoo, who is the director and shareholder of Spaces ZB Portfolio Limited, a minority shareholder of the company. This loan is interest-free and repayable on demand.

Included within other creditors is an unsecured loan of £59,900 (2023: £59,900) owed to Metacapital Ltd, a minority shareholder of the company. This loan is interest-free and repayable on demand.

Included within other creditors is an unsecured loan of £74,875 (2023: £74,875) owed to M Williams, a minority shareholder of the company. This loan is interest-free and repayable on demand.
5 Controlling party
There is no ultimate controlling party.
6 Other information
SPACES 175 LONG LANE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
124 City Road
London
EC1V 2NX
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