The Compliance Space Ltd

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Accountants' Report	1
Balance Sheet	2
Notes to the Financial Statements	3—6

Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of The Compliance Space Ltd for the year ended 31 January 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Compliance Space Ltd for the year ended 31 January 2026 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the directors of The Compliance Space Ltd , as a body, in accordance with the terms of our engagement letter dated 14 April 2021. Our work has been undertaken solely to prepare for your approval the accounts of The Compliance Space Ltd and state those matters that we have agreed to state to the directors of The Compliance Space Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Compliance Space Ltd and its directors, as a body, for our work or for this report.

It is your duty to ensure that The Compliance Space Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of The Compliance Space Ltd . You consider that The Compliance Space Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of The Compliance Space Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Dr. Ceri Williams

05/05/2026

Oxwich Accountancy Limited

ICAEW member firm number C006246679

113 Canalside

Redhill

Surrey

RH1 2FH

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The Compliance Space Ltd

Balance Sheet

As At 31 January 2026

Balance Sheet

Registered number: 11789736

		2026		2025
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	1,113		2,427
Cash at bank and in hand		9,191		2,854

		10,304		5,281
Creditors: Amounts Falling Due Within One Year	5	(63,861 )		(59,711 )

NET CURRENT ASSETS (LIABILITIES)			(53,557 )		(54,430 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(53,557 )		(54,430 )

NET LIABILITIES			(53,557 )		(54,430 )

CAPITAL AND RESERVES
Called up share capital	6		100		100
Profit and Loss Account			(53,657 )		(54,530 )

SHAREHOLDERS' FUNDS			(53,557)		(54,430)

For the year ending 31 January 2026 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Byron Shirley Director	Mr Paul Saunders Director
06/05/2026

The notes on pages 3 to 6 form part of these financial statements.

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The Compliance Space Ltd

Notes to the Financial Statements

For The Year Ended 31 January 2026

Notes to the Financial Statements

1. General Information

The Compliance Space Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11789736 . The registered office is 113 Canalside, Redhill, Surrey, RH1 2FH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis.

The company has net liabilities of £53,557 at the balance sheet date. Included within creditors is an amount of £53,322 due to its parent undertaking. This balance is legally repayable on demand.

The company is part of a group under common control. The directors of the company are also the directors and ultimate shareholders of the parent undertaking and therefore have the ability to control the timing of any repayment.

The directors, in their capacity as directors and shareholders of the parent undertaking, have direct knowledge of its financial position. The parent undertaking is profitable, holds significant cash reserves and has minimal external liabilities. The directors confirm their intention to continue providing financial support to the company for the foreseeable future and have no intention of seeking repayment of the intercompany balance within at least 12 months of the date of approval of these financial statements.

On this basis, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have therefore adopted the going concern basis in preparing these financial statements. The directors do not consider that a material uncertainty exists in relation to going concern.

2.3. Significant judgements and estimations

The preparation of financial statements requires management to make judgements

Key judgement – going concern and classification of intercompany loan

The most significant judgement relates to the going concern basis of preparation and the classification of amounts due to the parent undertaking. Although the intercompany loan is legally repayable on demand and is therefore presented as a current liability, the directors have concluded that, in substance, repayment will not be required in the foreseeable future.

This judgement is based on:

the common ownership and control of the company and its parent undertaking;
the parent undertaking’s strong cash position and low external liabilities; and
the directors’ ability to control the timing of repayment.

Estimation uncertainty

The directors do not consider there to be any key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

2.4. Turnover

Turnover represents the fair value of consideration received or receivable from the grant of annual software licences, net of value added tax and trade discounts.

Revenue from annual software licences is recognised on a straight-line basis over the licence period to which it relates, reflecting the pattern of delivery of access to the software. Where licence fees are invoiced or received in advance of the period to which they relate, the unearned element is deferred and presented within accruals and deferred income on the balance sheet. Where a licence period straddles the balance sheet date, turnover is apportioned accordingly.

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The Compliance Space Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.7. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	-	1,440
Prepayments and accrued income	1,018	987
Directors' loan accounts	95	-

	1,113	2,427

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The Compliance Space Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

5. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	1	-
Corporation tax	205	-
Other taxes and social security	333	-
VAT	1,248	1,476
Accruals and deferred income	8,752	4,913
Amounts owed to group undertakings	53,322	53,322

	63,861	59,711

Included within amounts owed to group undertakings is £53,322 due to the company’s parent undertaking. Although this balance is legally repayable on demand and is therefore classified as a current liability, the directors do not expect repayment to be required within 12 months of the balance sheet date (see note 2.2).

6. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

7. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 February 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 January 2026
	£	£	£	£	£
Mr Byron Shirley	-	52	-	-	52
Mr Paul Saunders	-	43	-	-	43

The above loans are unsecured, interest free and repayable on demand.

8. Related Party Transactions

The company is a subsidiary of Black Penny Consulting Limited, a company incorporated in England and Wales.

The company is under common control, as the directors of The Compliance Space Ltd are also the directors and equal shareholders of the parent undertaking.

During the year, the company entered into the following transactions with related parties:

Licence fee income of £26,000 (2025: £26,000) was earned from Black Penny Consulting Limited.

At the year end, the company owed £53,322 (2025: £53,322) to Black Penny Consulting Limited. The balance is unsecured, interest-free and legally repayable on demand.

The parent undertaking has confirmed that it does not intend to seek repayment of the balance in the foreseeable future and will provide ongoing financial support to the company as required.

Key management personnel are considered to be the directors of the company. Total remuneration of key management personnel is disclosed in note 4.

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The Compliance Space Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

9. Parent Undertaking and Controlling Party

The company's immediate and parent undertaking is Black Penny Consulting Ltd . Black Penny Consulting Ltd was incorporated in England and Wales.

The controlling party is Black Penny Consulting Ltd who controls 92% of the shares of The Compliance Space Ltd .

The company qualifies as a small company for the purposes of section 382 of the Companies Act 2006. The group of which the company is a member also qualifies as a small group for the purposes of section 383 of the Companies Act 2006. Accordingly, the company is entitled to exemption from the requirement to have its accounts audited under section 477 of the Companies Act 2006, and the directors have taken advantage of this exemption for the year ended 31 January 2026.

10. Other Operating Income — Government Grant

Other operating income of £2,221 (2025: £958) represents Employment Allowance claimed in respect of employers’ National Insurance contributions.

The allowance is accounted for as a government grant and recognised in profit or loss on a systematic basis over the periods in which the related payroll costs are incurred.

The company has complied with all conditions attached to the allowance. There are no unfulfilled conditions or contingent repayment obligations.

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