Portable Space Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—7
Profit and Loss Account	8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Notes to the Financial Statements	12—18

The directors present their strategic report for the year ended 30 June 2025.

Review of the Business

The company provides a range of portable accommodation, cabins and storage including new and used shipping containers for both sale and hire throughout the United Kingdom. Shipping container conversions are designed and built in house and can be delivered overseas by international container networks. Larger modular buildings for both project accommodation and permanent use are designed and supplied where customers need more space. The business operates its own transport fleet for delivery of units.

The company performed in line with expectations during the year and continues to implement a strategy of investment, adding to the hire fleet and strengthening our fixed asset base of owned vehicles and plant.

Investment in our colleagues and our continued commitment to grow managerial skills and colleague development in house, underpins our investment strategy.

The company anticipates the strategy of investment in fleet and our people to continue. We remain optimistic about the future growth opportunities in different products, markets and the knowledge and skills of our workforce. The company have committed to strategic investment within our IT infrastructure and data analytics systems to use data driven insights to help drive business growth. The company are also working to invest in the supply chain and management.

We operated for our third year in our new HQ (Modular House). Our vibrant, modern offices are a great place to work and have enabled us to spend more time together, collaborating, sharing ideas and working to deliver the best experience for our clients and stakeholders.

We are also pleased with the contribution from our second facility. The facility gives us the foundation to grow the company in a different geographic area, with different product mix and opportunities that can be explored further due to the location.

We have continued our investment to strengthen the Portable Space brand during the year, with investment in brand and marketing and new products and services, that will complement our drive to reduce our environmental impact.

Key performance indicators

Turnover increased by 6% during the year. Gross margin decreased from 24.1% to 22.1%, with profits before tax increasing marginally. Pre-tax profit margin decreased slightly from 10% to 9.5%.

Key performance indicator	2025	2024	Growth
Turnover	£26.4m	£24.9m	6.0%
Gross profit	£ 5.8m	£ 5.3m	10.0%
EBITDA	£ 3.9m	£ 3.9m	0.00%
Tangible fixed assets	£5.8m	£ 6.28m	(7.6%)
Head count	72	65	10.0%

The directors are satisfied with the progress of the company during the year. Growth in revenue was in line with expectations. Gross margins were at the lower end of forecasts, due mainly to the increase in Employers National Insurance Contributions, affecting our own direct cost of sales and supply chain price increases passed on through higher 3rd party labour costs.

The average headcount increased to 72 during the year in line with the company’s growth plans.

Profit before tax increased marginally on the prior year, but this was as expected with higher fixed costs and lower gross margins.

Risks and Uncertainties.

The directors have assessed the risk posed by cost price inflation and are confident that prices throughout the new and used container market remain competitive due to product supply surpluses.

Inflationary pressures remain, with higher production costs caused by higher energy prices and higher cost of raw materials. Increased labour costs is an area that the directors are conscious of in anticipation of the autumn budget. The directors have taken steps to remain competitive, whilst ensuring that margins are maintained.

The directors are aware of the decrease in the bank of England base rates during the year. The company is well sheltered from interest rate risk on borrowings and only has a small exposure with the bank.

Competition in the sale of new and used containers is of principle risk to the business, with aggressive competition lowering margins throughout the UK market. The company does however sell a diverse product range, and the directors continue to take appropriate action to mitigate the risk associated with a niche product offering.

...CONTINUED

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Portable Space Limited

Strategic Report (continued)

For The Year Ended 30 June 2025

Review of the Business - continued

The directors have assessed the risk to changes in regulation and compliance throughout the industry and are confident that steps taken to ensure compliance are adequate to meet our obligations under new regulations arising in the future.

Environmental

We aim to limit our carbon footprint through continuous investment in our operating fleet and assets. We operate to policies and procedures that will help us to reduce carbon emissions throughout the business and supply chain. By working closely with our suppliers and measuring our own carbon emissions, and by assessment of embedded carbon within our product range, we aim to minimize our impact on the environment.

The company continue to operate from the purpose-built HQ, which boasts solar panels for generating electricity, is highly thermally efficient and recycles rainwater for use in the wastewater systems.

The company are actively engaging in a carbon reduction strategy and have started to put measures in place to reduce our CO2 equivalent per head over the coming years.

On behalf of the board

Mr Mark Black

Director

30th September 2025

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Portable Space Limited

Company No. 04447666

Directors' Report For The Year Ended 30 June 2025

Directors' Report

The directors present their report and the financial statements for the year ended 30 June 2025.

Principal Activity

The company's principal activity continues to be that of the sale and hire of portable modular building solutions.

Future Developments

The company continues to explore the possibility of exploiting new markets and products in order to maintain, expand and grow the business.

The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch.7 to be contained in the directors' report. It has done so in respect of the review of future developments.

Dividends

The value of dividends paid amounted to £1,665,217 .

The directors recommended a final dividend of £NIL .

Financial Instruments

Liquidity risk

The company manages its cash and borrowing requirements in order to minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Credit risk

Investment of cash surpluses, borrowings and derivative instruments are made through banks and companies which are required to fulfil credit rating criteria approved by the Board.

Customers who trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Directors

The directors who held office during the year were as follows:

Mr Mark Black

Mr Mark Dolman

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

A consolidated cash flow statement is included in the financial statements of the company's parent Black Spark Limited company number 07919799. The consolidated financial statements of Black Spark Limited are pubicly available.

Statement of Directors' Responsibilities

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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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 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.

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Portable Space Limited

Directors' Report (continued)

For The Year Ended 30 June 2025

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, GMS FC Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Mark Dolman

Director

30th September 2025

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Independent Auditor's Report

to the Members of

Portable Space Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Portable Space Limited for the year ended 30 June 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit/(loss) for the year 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 Auditor's 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 UK, including the FRC'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 entity's ability to continue as a going concern for a period of at least 12 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.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's 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. In connection with our audit of the financial statements, 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 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.

Opinions 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Portable Space Limited

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 or 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—4, 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.

Auditor's 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 auditor's 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Key parts of the regulatory framework applicable to the company are the Companies Act 2006 and Financial Reporting Standard 102.The audit teamed gained an understanding of the legislation.

We gained an understanding of how the company is complying with those frameworks by considering the potential for override of those controls or other innapropriate influence over the financial reporting process, understanding the culture of honesty and ethical behaviour within the organisation, and observing whether a strong emphasis is placed on fraud prevention.

We assessed the susceptability of the company's financial statements to material misstatement, by understanding which areas of the business present potential draud risk, understanding where these riska could present themselves and subsequently identifying controls in place to prevent or detect and correct them.

Based on the understanding gained, we designed audit procedures to identify non-compliance with laws and regulations. The procedures adopted included direct enquiries with those charged with governance, and specific analysis and testing of transactions and balances. The result of these procedures did not identify any such instance of irregularities or fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's 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 that we are required to state to them in an auditor's 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.

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Independent Auditor's Report (continued)

to the Members of

Portable Space Limited

Christopher Smith (Senior Statutory Auditor)

for and on behalf of GMS FC Limited , Statutory Auditor

31st October 2025

GMS FC Limited

1 London Road

Ipswich

Suffolk

IP1 2HA

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Portable Space Limited

Profit and Loss Account

For The Year Ended 30 June 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	26,458,042	24,979,847
Cost of sales		(20,598,318 )	(19,609,402 )

GROSS PROFIT		5,859,724	5,370,445

Administrative expenses		(3,376,085 )	(2,903,622 )

OPERATING PROFIT	4	2,483,639	2,466,823
Profit on disposal of fixed assets		-	6,638
Other interest receivable and similar income	9	42,692	48,065
Interest payable and similar charges	10	(7,440 )	(10,936 )

PROFIT BEFORE TAXATION		2,518,891	2,510,590
Tax on Profit	11	(647,851 )	(662,619 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,871,040	1,847,971

The notes on pages 12 to 18 form part of these financial statements.

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Portable Space Limited

Statement of Comprehensive Income

For The Year Ended 30 June 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	1,871,040	1,847,971
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	1,871,040	1,847,971

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Portable Space Limited

Balance Sheet

As At 30 June 2025

Balance Sheet

Registered number: 04447666

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		5,826,178		6,282,060

			5,826,178		6,282,060
CURRENT ASSETS
Stocks	13	2,897,316		2,625,890
Debtors	14	5,326,814		4,928,951
Cash at bank and in hand		1,441,547		1,133,994

		9,665,677		8,688,835
Creditors: Amounts Falling Due Within One Year	15	(4,910,673 )		(4,441,045 )

NET CURRENT ASSETS (LIABILITIES)			4,755,004		4,247,790

TOTAL ASSETS LESS CURRENT LIABILITIES			10,581,182		10,529,850

Creditors: Amounts Falling Due After More Than One Year	16		(47,325 )		(100,035 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	18		(654,590 )		(756,371 )

NET ASSETS			9,879,267		9,673,444

CAPITAL AND RESERVES
Called up share capital	20		1,000		1,000
Profit and Loss Account			9,878,267		9,672,444

SHAREHOLDERS' FUNDS			9,879,267		9,673,444

On behalf of the board

Mr Mark Black

Director

30th September 2025

The notes on pages 12 to 18 form part of these financial statements.

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Portable Space Limited

Statement of Changes in Equity

For The Year Ended 30 June 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 July 2023	1,000	9,624,473	9,625,473
Profit for the year and total comprehensive income	-	1,847,971	1,847,971

Dividends paid	-	(1,800,000)	(1,800,000)

As at 30 June 2024 and 1 July 2024	1,000	9,672,444	9,673,444


Profit for the year and total comprehensive income	-	1,871,040	1,871,040

Dividends paid	-	(1,665,217)	(1,665,217)

As at 30 June 2025	1,000	9,878,267	9,879,267

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Portable Space Limited

Notes to the Financial Statements

For The Year Ended 30 June 2025

Notes to the Financial Statements

1. General Information

Portable Space Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04447666 . The registered office is Modular House, Unit 1 Bacton Business Park, Bacton, Stowmarket, Suffolk, IP14 4LE.

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 "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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. 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	Term of lease from date of completion
Plant & Machinery	5.75% - 33.3% of cost
Motor Vehicles	15% - 25% of cost
Fixtures & Fittings	10% - 33.3% of cost
Computer Equipment	20% - 50% of cost

2.4. Leasing and Hire Purchase Contracts

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

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

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Portable Space Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Unit hire	5,815,695	5,078,474
Unit sales	17,959,056	17,707,494
Vehicle transport contracts	2,226,701	1,726,002
Workshop income	456,590	467,877

	26,458,042	24,979,847

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	92,458	44,140
Operating lease rentals	276,800	253,026
Depreciation of tangible fixed assets - owned	1,358,875	1,352,836
Depreciation of tangible fixed assets - finance leases and hire purchase contracts	79,070	71,281

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Portable Space Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	7,000	6,500


Other Services
Other non-audit services	1,000	1,000

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	3,287,890	3,364,349

Staff cost comprise the following elements:

Gross pay	2,897,768
Employers national insurance	300,996
Employers pension contributions	89,126

7. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	16	15
Sales, marketing and distribution	19	17
Manufacturing	37	33

	72	65

8. Directors' remuneration

	2025	2024
	£	£
Emoluments	209,363	182,747

The number of directors to whom retirement benefits were accruing was as follows:

	2025		2024
Money purchase pension schemes	2		2

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	193,941	-
Company contributions to money purchase pension schemes	22,564	-

	216,505	-

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Portable Space Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

9. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	42,692	48,065



Total interest income on financial assets measured at fair value through profit or loss:	42,692	48,065

10. Interest Payable and Similar Charges

	2025	2024
	£	£
Finance charges payable under finance leases and hire purchase contracts	7,440	10,936



Total interest expense on financial liabilities measured at fair value through profit or loss:	7,740	10,936

11. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	-	25.0%	749,632	764,907
Deferred Tax
Deferred taxation			(101,781 )	(102,288 )


Total tax charge for the period			647,851	662,619


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			2,518,891	2,510,590

Tax on profit at 25% (UK standard rate)			629,723	627,648
Goodwill/depreciation not allowed for tax			359,846	354,369
Expenses not deductible for tax purposes			12,782	4,891
Capital allowances			(252,719 )	(222,001 )
Short term timing differences			(101,781 )	(102,288 )

Total tax charge for the period			647,851	662,619

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Portable Space Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

12. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 July 2024	1,684,121	14,256,085	15,940,206
Additions	-	1,084,461	1,084,461
Disposals	-	(590,723 )	(590,723 )

As at 30 June 2025	1,684,121	14,749,823	16,433,944

Depreciation
As at 1 July 2024	156,892	9,501,254	9,658,146
Provided during the period	114,489	1,323,456	1,437,945
Disposals	-	(488,325 )	(488,325 )

As at 30 June 2025	271,381	10,336,385	10,607,766

Net Book Value
As at 30 June 2025	1,412,740	4,413,438	5,826,178

As at 1 July 2024	1,527,229	4,754,831	6,282,060

13. Stocks

	2025	2024
	£	£
Stock - cabin units	2,510,360	2,217,409
Stock - components	167,526	109,087
Work in progress	219,430	299,394

	2,897,316	2,625,890

14. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	4,042,978	3,966,288
Prepayments and accrued income	305,248	55,270
Other debtors	19,195	-
Amounts owed by group undertakings	959,393	907,393

	5,326,814	4,928,951

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Portable Space Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

15. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	52,710	45,737
Trade creditors	3,271,493	3,058,379
Other creditors	302,280	136,130
Corporation tax	724,297	628,062
Taxation and social security	470,173	481,603
Accruals and deferred income	89,720	91,134

	4,910,673	4,441,045

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	47,325	100,035

17. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	52,710	45,737
Later than one year and not later than five years	47,325	100,035

	100,035	145,772

	100,035	145,772

There is a debenture in favour of the Company's bankers with an unlimited Inter-Company Standard Guarantee by and between Black Spark Limited (the parent company) and Portable Space Limited.

18. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	654,590	756,371

19. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 July 2024	756,371	756,371
Reversals	(101,781 )	(101,781)

Balance at 30 June 2025	654,590	654,590

20. Share Capital

	2025	2024
Allotted, called up but not fully paid	£	£
1,000 Ordinary Shares of £ 1.00 each	1,000	1,000

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Portable Space Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

21. Capital Commitments

At the end of the period, the company had capital commitments contracted for but not provided in these financial statements

22. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	276,800	253,026
Later than one year and not later than five years	841,067	841,067
Later than five years	428,307	705,107

	1,546,174	1,799,200

23. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	1,665,217	1,800,000

24. Controlling Parties

The company's immediate parent undertaking is Black Spark Limited .

The ultimate parent undertaking is Black Spark Limited (incorporated in England & Wales). Its registered office is Talpa Hall Station Road Old Newton Stowmarket Suffolk IP14 4HQ .

Copies of the group accounts may be obtained from the company's registered office.

The company's ultimate controlling party is Mr M Black by virtue of their interest in the share capital of the parent company.

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