0 Spacepad Construction Limited 10430312 false 2024-07-01 2025-06-30 2025-06-30 The principal activity of the company is construction of domestic buildings Digita Accounts Production Advanced 6.30.9574.0 true false true 10430312 2024-07-01 2025-06-30 10430312 2025-06-30 10430312 bus:OrdinaryShareClass1 2025-06-30 10430312 core:CurrentFinancialInstruments 2025-06-30 10430312 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 10430312 core:Non-currentFinancialInstruments 2025-06-30 10430312 core:Non-currentFinancialInstruments core:AfterOneYear 2025-06-30 10430312 core:CostValuation 2025-06-30 10430312 core:DisposalsDecreaseInInvestments 2025-06-30 10430312 core:MoreThanFiveYears 1 2025-06-30 10430312 core:FurnitureFittingsToolsEquipment 2025-06-30 10430312 1 2025-06-30 10430312 bus:SmallEntities 2024-07-01 2025-06-30 10430312 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 10430312 bus:FilletedAccounts 2024-07-01 2025-06-30 10430312 bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 10430312 bus:RegisteredOffice 2024-07-01 2025-06-30 10430312 bus:Director1 2024-07-01 2025-06-30 10430312 bus:OrdinaryShareClass1 2024-07-01 2025-06-30 10430312 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 10430312 bus:Agent1 2024-07-01 2025-06-30 10430312 core:FurnitureFittingsToolsEquipment 2024-07-01 2025-06-30 10430312 core:PlantMachinery 2024-07-01 2025-06-30 10430312 core:Vehicles 2024-07-01 2025-06-30 10430312 core:VehiclesPlantMachinery 2024-07-01 2025-06-30 10430312 core:AllSubsidiaries 2024-07-01 2025-06-30 10430312 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-07-01 2025-06-30 10430312 core:Subsidiary1 2024-07-01 2025-06-30 10430312 core:Subsidiary1 1 2024-07-01 2025-06-30 10430312 core:Subsidiary1 countries:EnglandWales 2024-07-01 2025-06-30 10430312 1 2024-07-01 2025-06-30 10430312 countries:EnglandWales 2024-07-01 2025-06-30 10430312 2024-06-30 10430312 core:CostValuation 2024-06-30 10430312 core:FurnitureFittingsToolsEquipment 2024-06-30 10430312 2023-07-01 2024-06-30 10430312 2024-06-30 10430312 bus:OrdinaryShareClass1 2024-06-30 10430312 core:CurrentFinancialInstruments 2024-06-30 10430312 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10430312 core:Non-currentFinancialInstruments 2024-06-30 10430312 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 10430312 core:MoreThanFiveYears 1 2024-06-30 10430312 core:FurnitureFittingsToolsEquipment 2024-06-30 10430312 1 2024-06-30 10430312 core:Subsidiary1 1 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 10430312

Spacepad Construction Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2025

Spacepad Construction Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

Spacepad Construction Limited

Company Information

Director | M H Platts

Registered office | 643 Ecclesall Road Sheffield South Yorkshire S11 8PT

Accountants | CHF Accountancy Limited Courtwood House Silver Street Head Sheffield South Yorkshire S1 2DD

Spacepad Construction Limited

(Registration number: 10430312)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 5,161 | 2,665
Investments | 5 | 100 | 220
|  | 5,261 | 2,885
Current assets |  |  |
Stocks | 6 | 804,161 | 918,683
Debtors | 7 | 23,773 | 3,521
Cash at bank and in hand |  | 56,606 | 89,383
|  | 884,540 | 1,011,587
Creditors: Amounts falling due within one year | 8 | (828,674) | (840,706)
Net current assets |  | 55,866 | 170,881
Total assets less current liabilities |  | 61,127 | 173,766
Creditors: Amounts falling due after more than one year | 8 | (18,531) | (22,971)
Net assets |  | 42,596 | 150,795
Capital and reserves |  |  |
Called up share capital | 9 | 100 | 100
Retained earnings |  | 42,496 | 150,695
Shareholders' funds |  | 42,596 | 150,795

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 December 2025

......................................... M H Platts Director

Spacepad Construction Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
643 Ecclesall Road
Sheffield
South Yorkshire
S11 8PT
United Kingdom

These financial statements were authorised for issue by the director on 2 December 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Spacepad Construction Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | straight line over 4 years
Computer equipment | straight line over 3 years
Motor vehicles | 25% on reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

Spacepad Construction Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 1).

Spacepad Construction Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 July 2024 | 6,862 | 6,862
Additions | 3,800 | 3,800
At 30 June 2025 | 10,662 | 10,662
Depreciation
At 1 July 2024 | 4,197 | 4,197
Charge for the year | 1,304 | 1,304
At 30 June 2025 | 5,501 | 5,501
Carrying amount
At 30 June 2025 | 5,161 | 5,161
At 30 June 2024 | 2,665 | 2,665

Spacepad Construction Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025

5 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 100 | 220

Subsidiaries | £
Cost or valuation
At 1 July 2024 | 220
Disposals | (120)
At 30 June 2025 | 100
Provision
Carrying amount
At 30 June 2025 | 100
At 30 June 2024 | 220

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
OPM (NW) Ltd | England and Wales | ordinary shares | 100% | 100%

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 804,161 | 918,683

Spacepad Construction Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 13,796 | -
Prepayments | 2,042 | 2,281
Other debtors | 7,935 | 1,240
| 23,773 | 3,521

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 10 | 4,441 | 4,328
Trade creditors |  | 845 | 5,757
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 11 | 295,201 | 294,069
Taxation and social security |  | 2,272 | 12,197
Accruals and deferred income |  | 17,310 | 10,278
Other creditors |  | 508,605 | 514,077
|  | 828,674 | 840,706

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 10 | 18,531 | 22,971

| 2025 £ | 2024 £
Due after more than five years |  |
After more than five years by instalments | - | 6,133

| - | -

Spacepad Construction Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

10 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 18,531 | 22,971

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 4,441 | 4,328

Bank borrowings

Bounceback loan is denominated in GB£ with a nominal interest rate of 2.5%%, and the final instalment is due on 21 June 2030. The carrying amount at year end is £22,971 (2024 - £27,300).

11 | Related party transactions

Summary of transactions with entities with joint control or significant interest

Other credtors at 30 June 2025 included £12,515 (2024 : £15,021) owed by the company by Spacepad Design and Build Ltd, a company under common ownership and control.

Summary of transactions with subsidiaries

At 30 June 2025 the company owed £295,201 (2024 : £294,069) to its subsidiary company OPM (NW) Ltd, which is included in creditors.