REGISTERED NUMBER: 13682065 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INFINITSPACE ALDGATE UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Wybo Wijnbergen

Wilco Wijnbergen

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

13682065 (England and Wales)

ACCOUNTANTS:

MGR Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

BUSINESS ADDRESS:

Aldgate Tower

2 Leman Street

E1 8FA

FIXED ASSETS

Tangible assets

4

816,090

935,586

CURRENT ASSETS

Debtors

5

3,612,417

3,180,795

Cash at bank

286,735

303,599

3,899,152

3,484,394

CREDITORS

Amounts falling due within one year

6

(9,162,245

)

(7,868,845

)

NET CURRENT LIABILITIES

(5,263,093

)

(4,384,451

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,447,003

)

(3,448,865

)

CREDITORS

Amounts falling due after more than one year

7

(2,340,883

)

(2,340,883

)

NET LIABILITIES

(6,787,886

)

(5,789,748

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

(6,787,888

)

(5,789,750

)

SHAREHOLDERS' FUNDS

(6,787,886

)

(5,789,748

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 9 December 2025 and were signed on its behalf by:

Wybo Wijnbergen - Director

1.	STATUTORY INFORMATION

Infinitspace Aldgate Uk Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Straight line over 10 years

Fixtures and fittings

-

Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Land and

and

buildings

fittings

Totals

£

£

£

COST

At 1 January 2024

953,536

263,636

1,217,172

Additions

28,320

1,939

30,259

At 31 December 2024

981,856

265,575

1,247,431

DEPRECIATION

At 1 January 2024

117,865

163,721

281,586

Charge for year

63,522

86,233

149,755

At 31 December 2024

181,387

249,954

431,341

NET BOOK VALUE

At 31 December 2024

800,469

15,621

816,090

At 31 December 2023

835,671

99,915

935,586

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

122,258

141,788

Other debtors

3,490,159

3,039,007

3,612,417

3,180,795

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

640,260

652,152

Taxation and social security

56,922

75,270

Other creditors

8,465,063

7,141,423

9,162,245

7,868,845

Included within other creditors is an amount of £6,688,384 (2023: £5,377,387) in regards to the lease rent free incentive provided to Infinitspace Aldgate UK limited with a duration of 15 years expiring 31 January 2037.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

2,340,883

2,340,883

8.	OPERATING LEASE COMMITMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

2,046,174

1,636,939

Between one and five years

40,263,102

42,309,277

42,309,276

43,946,216

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

102

Ordinary share capital - A

£0.01

1

1

98

Ordinary share capital - B

£0.01

1

1

2

2

10.	RELATED PARTY TRANSACTIONS

The following amounts were outstanding at the reporting end date:

Within other creditors due after more than one year is an amount of £2,340,883 (2023: £2,340,883) owed to

Infinitspace Holding BV, interest is charged monthly on this balance at 8% and the loan has no formal repayment terms.

Within trade creditors is an amount of £38,182 payable to InfinitSpace BV and £20,462 payable to Infinitspace Uk One LTD. These amounts are interest free and payable on demand.

11.	PARENT COMPANY

The immediate parent company is Infinitspace Holding B.V , a company registered in Netherlands