REGISTERED NUMBER: 12008024 (England and Wales)

SPITALFIELDS OFFICE LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Shannon

L P Dabasia

REGISTERED OFFICE:

2nd Floor, One Hobbs House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

12008024 (England and Wales)

ACCOUNTANTS:

KHI Albury Limited

2nd Floor, One Hobbs House,

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Tangible assets

4

1,330,000

1,330,000

CURRENT ASSETS

Debtors

5

8,760

-

Cash at bank

33,051

9,076

41,811

9,076

CREDITORS

Amounts falling due within one year

6

970,714

974,419

NET CURRENT LIABILITIES

(928,903

)

(965,343

)

TOTAL ASSETS LESS CURRENT LIABILITIES

401,097

364,657

CREDITORS

Amounts falling due after more than one year

7

541,948

542,208

NET LIABILITIES

(140,851

)

(177,551

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Revaluation reserve

10

(295,968

)

(295,968

)

Retained earnings

10

155,017

118,317

SHAREHOLDERS' FUNDS

(140,851

)

(177,551

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 27 November 2025 and were signed on its behalf by:

L P Dabasia - Director

1.	STATUTORY INFORMATION

Spitalfields Office Ltd 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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Although the Companies Act require the systematic annual depreciation of fixed assets, the directors believe the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of properties, and changes to that value, are of primary importance rather a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation and the amount that might otherwise have been included cannot be separately identified or quantified.

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.

Cash at bank and in hand

Cash at bank and in hand is represented by cash in hand and deposits held with financial institutions repayable without penalty or a notice of not less than 24 hour's.

Going concern

The Financial Statements have been prepared on a going concern basis, as the director has confirmed that funds wil continue to be made available for the company to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that may result from the withdrawal of this support and the director is of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

1,330,000

NET BOOK VALUE

At 31 March 2025

1,330,000

At 31 March 2024

1,330,000

Cost or valuation at 31 March 2025 is represented by:

Land and

buildings

£

Valuation in 2024

(295,968

)

Cost

1,625,968

1,330,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

8,760

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

1,673

5,500

Trade creditors

-

222

Amounts owed to associates

532,350

532,350

Taxation and social security

15,541

17,347

Other creditors

421,150

419,000

970,714

974,419

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

541,948

542,208

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

543,621

547,708

Loan from related party

532,350

532,350

1,075,971

1,080,058

The Bank loan is secured by way of fixed and floating charges, and a negative pledge over the company's leasehold property Ground and Lower Ground Floor, Commercial Unit, 66 Wentworth Street, London, E1 7BB.

The Loan from a related party is secured by way of an additional fixed and floating charges over the company's leasehold property Ground and Lower Ground Floor, Commercial Unit, 66 Wentworth Street, London, E1 7BB.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 April 2024

118,317

(295,968

)

(177,651

)

Profit for the year

36,700

36,700

At 31 March 2025

155,017

(295,968

)

(140,951

)

11.	RELATED PARTY DISCLOSURES

At the year-end date, included within creditors, amount falling due within one year, is an amount of £418,150 (2024: £418,150) owed to the Director G Shannon.

At the year-end date, included within creditors, amount falling due within one year, is an amount of £532,350 (2024: £532,350) owed to related entity in which the Director L Dabasia has beneficial interest.

These amounts are unsecured, interest free and payable on demand.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L Dabasia by the virtue of his shareholding in Dabasia Investments Limited, company registered in England and Wales.