Kiano Spaces Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12040553

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		760,000		700,000

			760,000		700,000
CURRENT ASSETS
Debtors	5	71,303		71,303
Cash at bank and in hand		50,633		33,448

		121,936		104,751
Creditors: Amounts Falling Due Within One Year	6	(318,659 )		(316,920 )

NET CURRENT ASSETS (LIABILITIES)			(196,723 )		(212,169 )

TOTAL ASSETS LESS CURRENT LIABILITIES			563,277		487,831

Creditors: Amounts Falling Due After More Than One Year	7		(504,834 )		(504,861 )

NET ASSETS/(LIABILITIES)			58,443		(17,030 )

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			58,441		(17,032 )

SHAREHOLDERS' FUNDS			58,443		(17,030)

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Kiano Spaces Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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

Mr Yannis Marcou

Director

31/10/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Kiano Spaces Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12040553 . The registered office is 28 Farnaby Road, Bromley, BR1 4BJ.

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

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. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.4. Taxation

Taxation expense for the year represents current tax recognised in the reporting period and is recognised in the statement of income and retained earnings. Current tax is the amount of income tax payable in respect of taxable profit for the year. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end. Current taxation assets and liabilities are not discounted.

Deferred tax assets are recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other

deferred tax assets are only recognised 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 assets and liabilities are measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply in the periods in which any timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted. No deferred tax asset has been recognised for the current or previous year.

2.5. Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are

readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

2.6. Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

2.7. Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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Kiano Spaces Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024	700,000
Revaluations	60,000

As at 31 March 2025	760,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	703,150	703,150

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature,location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

The Directors are of the view that the current carrying value reflects fair market value as follows:

- Deansgate - £330,000

- Sherwood - £110,000

- Kenyon Lane - £110,000

- Green Quarter - £135,000

- Clock Tower - £75,000

5. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	-	71,303
Due after more than one year
Other debtors	71,303	-

	71,303	71,303

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	18	18
Other creditors	317,526	316,902
Taxation and social security	1,115	-

	318,659	316,920

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Kiano Spaces Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

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

	2025	2024
	£	£
Bank loans	504,834	504,861

Creditors falling due after one year relate to mortgages held over properties purchased at Deansgate, Sherwood, Kenyon Lane, Green Quarter and Clock Tower. The balance represents the mortgage capital liability relating to the 5 properties and the remaining mortgage loan term is 22 years for Deansgate, Sherwood and Kenyon Lane, 27.5 years for Green Quarter and 27 years and 8 months for Clock Tower. The loans are secured against the properties and are repaid on an interest-only basis. Interest is paid monthly.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

9. Related Party Transactions

UXGateway Limited is a related party by virtue of having a Director in common. At 31 March 2025, the amount owed to UXGateway Limited was £112,966 (2024: £112,966). The loan is unsecured, interest-free and has no fixed terms of repayment.

At 31 March 2025 the Company owed the Directors £202,603 (2024: £201,979) in equal parts. Loans with the Director are unsecured, interest-free and carry no fixed terms of repayment.

Cyan Spaces Limited is a related party by virtue of having Directors in common. At 31 March 2025, Cyan Spaces Limited owed Kiano Spaces Limited £71,303 (2024: £71,303). The loan is unsecured, interest-free and has no fixed terms of repayment. The amount owed by Cyan Spaces Limited is reflected within Other Debtors above.

All transactions between related parties relate to the provision of cash for use in operational activity and acquisition of investments.

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