SPACES NB INVESTORS LIMITED - Filleted accounts

Registered number

10092985

SPACES NB INVESTORS LIMITED

Filleted Accounts

31 December 2024

SPACES NB INVESTORS LIMITED
Registered number:		10092985
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Investments	3		1			1

Current assets
Debtors	4	324,744			324,744

Creditors: amounts falling due within one year	5	(326,285)			(325,977)

Net current liabilities			(1,541)			(1,233)

Net liabilities			(1,540)			(1,232)

Capital and reserves
Called up share capital			1			1
Profit and loss account			(1,541)			(1,233)

Shareholders' funds			(1,540)			(1,232)

The directors are 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 directors acknowledge their 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 NB INVESTORS 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company incurs minimal committed costs and is supported by loans from the Group and external investors. The directors are satisfied that these loans will not be re-called for payment within 12 months of the date of the signing of the financial statements, unless the Company has sufficient funds to do so. Based on this the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

	Group accounts exemption
	Group accounts exemption s399 The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

	Impairment of assets
	Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

	Non-financial assets
	An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

	Financial assets
	For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate. For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date. Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Financial instruments
	Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

	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			2		2


3	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 January 2024					1

	At 31 December 2024					1

	Investments in shares Name of entity Spaces Newington Butts Limited	Registered office 124 City Road, London, England, EC1V 2NX	Nature of business Buying and selling of own real estate as well as letting of own real estate.	Class of shares Ordinary		Ownership comparative years 31.12.2024 - 100% 31.12.2023 - 100%



4	Debtors			2024		2023
£					£

	Amounts owed by group undertakings and undertakings in which the company has a participating interest			324,744		324,744


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Amounts owed to group undertakings and undertakings in which the company has a participating interest			52,500		52,500
	Amounts owed to associates			22,074		22,074
	Accruals			548		240
	Other creditors			251,163		251,163
				326,285		325,977

	Amounts owed to group undertakings and amounts owed to associates are unsecured, interest-free and repayable on demand. The amounts owed to associates have been classified as due in less than one year reflecting the nature of the loans. The directors do not expect the loans to be repaid within twelve months of the financial statements being signed unless the Company has sufficient funds to do so.

6	Related party transactions

	The Company has taken advantage of the exemption under FRS 102 not to provide information on related party transactions with wholly owned companies within the Group headed by the Company. Remuneration was paid to the directors of £Nil (2023: £Nil). The directors are the only key management personnel of this company. Included in amounts owed to group undertakings is a loan of £51,507 (2023: £51,507) owed to Spaces Property Group Limited, the majority shareholder of the company. The loan is unsecured, interest-free and is repayable on demand. Included in amounts owed to associates is a loan of £22,074 (2023: £22,074) owed to Spaces ZB Portfolio Limited, the minority shareholder of the company. The loan is unsecured, interest-free and is repayable on demand.


7	Controlling party

	S K Bhunnoo is the ultimate controlling party by virtue of his majority shareholding in the share capital of Spaces Property Group Limited. Spaces Property Group Limited, which is registered in England and Wales, at 124 City Road, London, England, EC1V 2NX, United Kingdom, is the Company's immediate and ultimate parent company.


8	Other information

	SPACES NB INVESTORS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	124 City Road
	London
	EC1V 2NX