OCTISPACE LIMITED


Directors	LAM, Hiu Ching
	LEE, Yan Lam
	ZHANG, Yong


Registered Address	Unit 1e, Bromsgrove House
	88 Bromsgrove Street
	Birmingham
	B5 6AJ


Registered Number	10715511 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Current assets
Debtors	3	1,197,428		735,058
Cash at bank and on hand		54,078		2,727,299
		1,251,506		3,462,357
Creditors amounts falling due within one year	4	(151,577)		(257,918)
Net current assets (liabilities)			1,099,929		3,204,439
Total assets less current liabilities			1,099,929		3,204,439
Creditors amounts falling due after one year	5		(9,361,842)		(11,463,599)
Net assets			(8,261,913)		(8,259,160)
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			(8,262,913)		(8,260,160)
Shareholders' funds			(8,261,913)		(8,259,160)

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 3 December 2025, and are signed on its behalf by:

LEE, Yan Lam
Director
Registered Company No. 10715511

OCTISPACE LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A, as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other 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. Trade receivables and amounts owed by group undertakings Trade receivables and amounts owed by group undertakings are amounts due from customers and fellow group undertakings for goods sold and services performed in the ordinary course of business. If collection is expected in one year or less (or in the normal operating cycle of the business, if longer), they are classified as current assets. If not, they are presented as non-current assets. Trade receivables and amounts owed by group undertakings are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment. The company applies the IFRS 9 simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables and amounts owed by group undertakings.

Trade and other 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.

Trade receivables and amounts owed by group undertakings

Trade receivables and amounts owed by group undertakings are amounts due from customers and fellow group undertakings for goods sold and services performed in the ordinary course of business. If collection is expected in one year or less (or in the normal operating cycle of the business, if longer), they are classified as current assets. If not, they are presented as non-current assets.

Trade receivables and amounts owed by group undertakings are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment. The company applies the IFRS 9 simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables and amounts owed by group undertakings.

	Cash and cash equivalents
	Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

	Trade and other creditors
	Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. Trade payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. Trade payables, amounts owed to group undertakings - other Trade payables and amounts owed to group undertakings – other are obligations to pay for goods that have been acquired in the ordinary course of business from suppliers, customers, and fellow group undertakings. They are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Trade and other creditors

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. Trade payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Trade payables, amounts owed to group undertakings - other

Trade payables and amounts owed to group undertakings – other are obligations to pay for goods that have been acquired in the ordinary course of business from suppliers, customers, and fellow group undertakings. They are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

	Financial instruments
	Financial assets Financial assets are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost, less any impairment. Financial liabilities Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost. Financial assets at fair value through profit or loss The Company’s financial assets include cash at bank and in hand, amounts owed by group undertakings and trade receivables. The Company classifies all its financial assets at amortised cost as those assets are held for collection of contractual cash flows and those cash flows represent solely payments of principal and interest. The Company does not factor debt.

Financial instruments

Financial assets
Financial assets are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost, less any impairment.

Financial liabilities

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.

Financial assets at fair value through profit or loss

The Company’s financial assets include cash at bank and in hand, amounts owed by group undertakings and trade receivables. The Company classifies all its financial assets at amortised cost as those assets are held for collection of contractual cash flows and those cash flows represent solely payments of principal and interest. The Company does not factor debt.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified. The company's immediate parent company is Able Wide Enterprises Limited, a company incorporated in Hong Kong. The company's ultimate parent undertaking and controlling party is Country Garden Holdings Company Limited, a company incorporated in the Cayman lslands and listed in Hong Kong. The largest and only group into which the results of the company are consolidated is that headed by Country Garden Holdings Company Limited. Copies of the consolidated financial statements of Country Garden Holdings Company Limited can be obtained from: Cricket Square Hutchins Drive P.0.Box2681 Grand Cayman KY1-1111 Cayman lslands

Related parties

For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

The company's immediate parent company is Able Wide Enterprises Limited, a company incorporated in Hong Kong. The company's ultimate parent undertaking and controlling party is Country Garden Holdings Company Limited, a company incorporated in the Cayman lslands and listed in Hong Kong.

The largest and only group into which the results of the company are consolidated is that headed by Country Garden Holdings Company Limited.

Copies of the consolidated financial statements of Country Garden Holdings Company Limited can be obtained from:
Cricket Square
Hutchins Drive
P.0.Box2681 Grand Cayman
KY1-1111
Cayman lslands

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Debtors: amounts due within one year

	2024	2023
	£	£
Amounts owed by group undertakings	1,180,273	650,043
Other debtors	-	68,860
Prepayments and accrued income	17,155	16,155
Total	1,197,428	735,058

4.	Creditors: amounts due within one year

	2024	2023
	£	£
Taxation and social security	55,458	159,809
Other creditors	94,318	98,109
Accrued liabilities and deferred income	1,801	-
Total	151,577	257,918

5.	Creditors: amounts due after one year

	2024	2023
	£	£
Amounts owed to related parties	9,361,842	11,463,599
Total	9,361,842	11,463,599