Accelerate Places Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08113642

Accelerate Places Ltd

Filleted Financial Statements

31 March 2025

Accelerate Places Ltd

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Accelerate Places Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,334,815	3,444,511

Current assets

Debtors	6	5,976,368	5,097,206
Cash at bank and in hand		1,120,187	1,780,101
		------------	------------
		7,096,555	6,877,307

Creditors: amounts falling due within one year	7	15,756,135		15,337,600
		-------------		-------------
Net current liabilities			8,659,580	8,460,293
			------------	------------
Total assets less current liabilities			( 6,324,765)	( 5,015,782)

Creditors: amounts falling due after more than one year	8		1,494,362	3,008,696

Provisions

Taxation including deferred tax	( 1,339,400)	–
	------------	------------
Net liabilities	( 6,479,727)	( 8,024,478)
	------------	------------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 6,479,728)	( 8,024,479)
	------------	------------
Shareholders deficit	( 6,479,727)	( 8,024,478)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr M K Badale

Director

Company registration number: 08113642

Accelerate Places Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Scale Space, 58 Wood Lane, London, W12 7RZ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared under the going concern basis which assumes the company will continue in existence for the foreseeable future. The directors have prepared the financial forecasts for the business and have a reasonable expectation that the company will be able to meet its liabilities as they fall due. The financial statements are prepared in Sterling, which is the functional currency of the entity.

Going concern

In preparing the accounts and reviewing the company estimated net liability positions of £6.5m, the directors have considered going concern. The directors have received confirmation from the shareholders, to whom the company owes a combined £8.3m personally and through their investment companies, that they do not intent to recall the amount due to them within 12 months of signing these financial statements where this will affect the company's ability to continue as a going concern. The directors have been in discussions with the shareholders who also confirm it is their intention to continue to support the additional financing requirements and will provide additional financing where this cannot be independently source. The directors recognise that without the support from its shareholders there is a material uncertainty to the company's ability to continue as a going concern, however the directors have no reason to believe that the funding will be withdrawn. As a result of the above, the accounts have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Fixtures and Fittings	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 25 (2024: 23 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2024	1,000,467	7,873,206	8,873,673
Additions	31,446	540,090	571,536
	------------	------------	------------
At 31 March 2025	1,031,913	8,413,296	9,445,209
	------------	------------	------------
Depreciation
At 1 April 2024	783,703	4,645,459	5,429,162
Charge for the year	80,834	1,600,398	1,681,232
	------------	------------	------------
At 31 March 2025	864,537	6,245,857	7,110,394
	------------	------------	------------
Carrying amount
At 31 March 2025	167,376	2,167,439	2,334,815
	------------	------------	------------
At 31 March 2024	216,764	3,227,747	3,444,511
	------------	------------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	1,458,254	1,065,294
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,385,340	179,660
Other debtors	3,132,774	3,852,252
	------------	------------
	5,976,368	5,097,206
	------------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,148,965	975,820
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,765,251	1,158,179
Social security and other taxes	285,930	312,875
Other creditors	12,555,989	12,890,726
	-------------	-------------
	15,756,135	15,337,600
	-------------	-------------

There is a fixed charge in respect of £397,535 (2024: £569,258) within other creditors secured against the assets of the company.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors - Barlow Marshall (Intercede Loan)	–	1,425,358
Other creditors - Scale Space LLP	1,494,362	1,583,338
	------------	------------
	1,494,362	3,008,696
	------------	------------

There is a fixed charge in respect of £1,494,362 (2024: £1,583,338) within other creditors secured against the assets of the company.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	3,596,398	3,811,963
Later than 1 year and not later than 5 years	11,498,162	12,748,650
Later than 5 years	586,478	2,932,388
	-------------	-------------
	15,681,038	19,493,001
	-------------	-------------

10. Summary audit opinion

The auditor's report dated 23 December 2025 was unqualified .

The senior statutory auditor was Andrew Collyer , for and on behalf of Burgess Hodgson Audit Limited .

11. Related party transactions

At the year end the company owed the Directors £4,003,000 (2024: £893,000). At the Balance Sheet date, the company had trade debtors and creditors of £1,115,021 (2024: £1,078,937) and £868,498 (2024: £784,525) respectively with companies related by virtue of common control and Directorship. The company has provided for £214,508 (2024: £236,132) of the trade debtors with related companies. At the Balance Sheet date, the company had loan debtors and creditors of £1,385,340 (2024: £1,384,669) and £7,971,684 (2024: £12,173,378) respectively with companies related by virtue of common control and Directorship.

12. Controlling party

The ultimate parent company of Accelerate Places Limited is Blenheim Chalcot LTF Limited, a company registered in England & Wales. There is no single controlling party of Blenheim Chalcot LTF Limited. The registered address of the ultimate parent company is Scale Space, 58 Wood Lane, London, United Kingdom, W12 7RZ.