REGISTERED NUMBER: 10599672 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Prime Space Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Mhana

A Mhana

REGISTERED OFFICE:

898 - 902 Wimborne Road

Moordown

Bournemouth

Dorset

BH9 2DW

REGISTERED NUMBER:

10599672 (England and Wales)

ACCOUNTANTS:

Stephen Penny and Partners Limited

Chartered Certified Accountants

and Business Advisors

898-902 Wimborne Road

Bournemouth

Dorset

BH9 2DW

FIXED ASSETS

Tangible assets

4

28,268,509

22,515,005

CURRENT ASSETS

Debtors

5

303,217

227,783

Cash at bank

416,816

53,746

720,033

281,529

CREDITORS

Amounts falling due within one year

6

3,438,294

1,727,848

NET CURRENT LIABILITIES

(2,718,261

)

(1,446,319

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,550,248

21,068,686

CREDITORS

Amounts falling due after more than one year

7

(26,584,096

)

(21,765,773

)

PROVISIONS FOR LIABILITIES

(10,696

)

(6,304

)

NET LIABILITIES

(1,044,544

)

(703,391

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,044,644

)

(703,491

)

(1,044,544

)

(703,391

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 18 May 2026 and were signed on its behalf by:

K Mhana - Director

1.	STATUTORY INFORMATION

Prime Space Properties 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Included in land and buildings is property being developed by the company.The company has outstanding loans on these properties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

22,481,827

48,811

22,530,638

Additions

5,730,385

96,754

5,827,139

Disposals

-

(86,993

)

(86,993

)

At 28 February 2025

28,212,212

58,572

28,270,784

DEPRECIATION

At 1 March 2024

-

15,633

15,633

Charge for year

-

1,198

1,198

Eliminated on disposal

-

(14,556

)

(14,556

)

At 28 February 2025

-

2,275

2,275

NET BOOK VALUE

At 28 February 2025

28,212,212

56,297

28,268,509

At 29 February 2024

22,481,827

33,178

22,515,005

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Other debtors

303,217

227,783

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade creditors

456,638

56,376

Amounts owed to group undertakings

2,333,414

1,239,997

Taxation and social security

792

54,325

Other creditors

647,450

377,150

3,438,294

1,727,848

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Other creditors

26,584,096

21,765,773