Silverfin false false 30/06/2025 01/07/2024 30/06/2025 Mr S R Pitman Mrs L A Pitman 26 February 2026 The principal activity of the company during the financial year was that of surveying and architecture. 09652283 2025-06-30 09652283 2024-06-30 09652283 core:CurrentFinancialInstruments 2025-06-30 09652283 core:CurrentFinancialInstruments 2024-06-30 09652283 core:Non-currentFinancialInstruments 2025-06-30 09652283 core:Non-currentFinancialInstruments 2024-06-30 09652283 core:ShareCapital 2025-06-30 09652283 core:ShareCapital 2024-06-30 09652283 core:RetainedEarningsAccumulatedLosses 2025-06-30 09652283 core:RetainedEarningsAccumulatedLosses 2024-06-30 09652283 core:PlantMachinery 2024-06-30 09652283 core:Vehicles 2024-06-30 09652283 core:OfficeEquipment 2024-06-30 09652283 core:ComputerEquipment 2024-06-30 09652283 core:PlantMachinery 2025-06-30 09652283 core:Vehicles 2025-06-30 09652283 core:OfficeEquipment 2025-06-30 09652283 core:ComputerEquipment 2025-06-30 09652283 core:CurrentFinancialInstruments core:Secured 2025-06-30 09652283 2024-07-01 2025-06-30 09652283 bus:FilletedAccounts 2024-07-01 2025-06-30 09652283 bus:SmallEntities 2024-07-01 2025-06-30 09652283 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 09652283 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 09652283 bus:Director1 2024-07-01 2025-06-30 09652283 bus:Director2 2024-07-01 2025-06-30 09652283 core:PlantMachinery core:TopRangeValue 2024-07-01 2025-06-30 09652283 core:Vehicles 2024-07-01 2025-06-30 09652283 core:OfficeEquipment 2024-07-01 2025-06-30 09652283 core:ComputerEquipment 2024-07-01 2025-06-30 09652283 2023-07-01 2024-06-30 09652283 core:PlantMachinery 2024-07-01 2025-06-30 09652283 core:CurrentFinancialInstruments 2024-07-01 2025-06-30 iso4217:GBP xbrli:pure

Company No: 09652283 (England and Wales)

# SPASE LTD.

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

SPASE LTD.

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

SPASE LTD.

## BALANCE SHEET

As at 30 June 2025
SPASE LTD.

## BALANCE SHEET (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 70,565 |  | 88,521
|  | 70,565 |  | 88,521
Current assets |  |  |  |
Debtors | 4 | 478,640 |  | 668,933
Cash at bank and in hand |  | 144,254 |  | 262,475
|  | 622,894 |  | 931,408
Creditors: amounts falling due within one year | 5 | ( 170,270) |  | ( 176,583)
Net current assets |  | 452,624 |  | 754,825
Total assets less current liabilities |  | 523,189 |  | 843,346
Creditors: amounts falling due after more than one year | 6 | ( 32,731) |  | ( 52,529)
Provision for liabilities |  | ( 17,772) |  | ( 4,602)
Net assets |  | 472,686 |  | 786,215
Capital and reserves |  |  |  |
Called-up share capital |  | 120 |  | 120
Profit and loss account |  | 472,566 |  | 786,095
Total shareholder's funds |  | 472,686 |  | 786,215

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.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Spase Ltd. (registered number: 09652283) were approved and authorised for issue by the Board of Directors on 26 February 2026. They were signed on its behalf by:

Mr S R Pitman Director |

SPASE LTD.

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
SPASE LTD.

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Spase Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Engine Rooms, Athelhampton House, Athelhampton, Dorchester, DT2 7LG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 4 years straight line
Vehicles | 25 % reducing balance
Office equipment | 25 % reducing balance
Computer equipment | 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 11 |  | 10

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 July 2024 | 9,375 |  | 89,941 |  | 22,174 |  | 47,101 |  | 168,591
Additions | 0 |  | 0 |  | 0 |  | 3,736 |  | 3,736
At 30 June 2025 | 9,375 |  | 89,941 |  | 22,174 |  | 50,837 |  | 172,327
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 July 2024 | 7,227 |  | 30,248 |  | 16,933 |  | 25,662 |  | 80,070
Charge for the financial year | 2,148 |  | 14,923 |  | 1,310 |  | 3,311 |  | 21,692
At 30 June 2025 | 9,375 |  | 45,171 |  | 18,243 |  | 28,973 |  | 101,762
Net book value |  |  |  |  |  |  |  |  |
At 30 June 2025 | 0 |  | 44,770 |  | 3,931 |  | 21,864 |  | 70,565
At 30 June 2024 | 2,148 |  | 59,693 |  | 5,241 |  | 21,439 |  | 88,521
Leased assets included above: |  |  |  |  |  |  |  |  |
Net book value |  |  |  |  |  |  |  |  |
At 30 June 2025 | 0 |  | 39,832 |  | 0 |  | 0 |  | 39,832
At 30 June 2024 | 0 |  | 53,109 |  | 0 |  | 0 |  | 53,109

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 13,456 |  | 20,460
Amounts owed by Group undertakings | 458,755 |  | 638,755
Other debtors | 6,429 |  | 9,718
| 478,640 |  | 668,933

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 9,167 |  | 9,167
Taxation and social security | 145,887 |  | 150,460
Obligations under finance leases and hire purchase contracts (secured) | 10,631 |  | 11,464
Other creditors | 4,585 |  | 5,492
| 170,270 |  | 176,583

The bank loan is a government backed bounceback loan and the hire purchase liability is secured against the asset in which it relates to.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 10,000
Obligations under finance leases and hire purchase contracts (secured) | 32,731 |  | 42,529
| 32,731 |  | 52,529

#### 7. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Loans owing from associated companies | 378,755 |  | 638,755

These loans have been provided interest free and are repayable on demand.

The directors loan account is repayable on demand and interest has been charged on any overdrawn balance exceeding £10,000 at the official HMRC rates.
At 01 July 2024 the balance owed to the directors was £Nil. During the year, the company made advances to directors amounting to £752 and received repayments of £624 leaving a balance due from the directors of £128.
At 01 July 2023 the balance owed to the directors was £Nil. During the year, the company made advances to directors amounting to £Nil and received repayments of £Nil leaving a balance due from the directors of £Nil.