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Registration number: 01944157

Bristol Spaceworks Ltd
(A company limited by guarantee)
Annual Report and Unaudited Filleted Financial Statements
for the Year Ended 31 March 2026

Bristol Spaceworks Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

Bristol Spaceworks Ltd

Company Information

Directors | Mr C N Pirie Mr J N G Hawkins Mr P J Caldwell Mr M B Lloyd-Jones Mr C Chapman Mr U M Yaqub Miss P Thakrar Ms I M Tempowski Ms N Mayler

Company secretary | Mr J N G Hawkins

Registered office | Easton Business Centre Felix Road Easton Bristol BS5 0HE

Accountants | Stone & Co Chartered Accountants 2 Charnwood House Marsh Road Ashton Bristol BS3 2NA

Bristol Spaceworks Ltd

(Registration number: 01944157)
Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |  |
Tangible assets | 4 |  | 1,961,348 | 1,938,878
Current assets |  |  |  |
Debtors | 5 | 25,720 |  | 69,013
Cash at bank and in hand |  | 1,168,966 |  | 1,091,769
|  | 1,194,686 |  | 1,160,782
Creditors: Amounts falling due within one year | 6 | (387,130) |  | (491,538)
Net current assets |  |  | 807,556 | 669,244
Total assets less current liabilities |  |  | 2,768,904 | 2,608,122
Provisions for liabilities |  |  | (42,280) | (30,482)
Net assets |  |  | 2,726,624 | 2,577,640
Reserves |  |  |  |
Retained earnings |  | 2,726,624 |  | 2,577,640
Surplus |  |  | 2,726,624 | 2,577,640

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 August 2026 and signed on its behalf by:

.........................................

Mr U M Yaqub
Director

Bristol Spaceworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1 | General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
Easton Business Centre
Felix Road
Easton
Bristol
BS5 0HE

These financial statements were authorised for issue by the Board on 18 August 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

Bristol Spaceworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings | 2% straight line
Fixtures and fittings | 25% reducing balance
Motor vehicles | 25% straight line
Website development | 20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Bristol Spaceworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2025 - 7).

Bristol Spaceworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Website development £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2025 | 2,577,517 | 430,152 | 21,000 | 13,627 | 3,042,296
Additions | 27,264 | 84,338 | - | - | 111,602
At 31 March 2026 | 2,604,781 | 514,490 | 21,000 | 13,627 | 3,153,898
Depreciation
At 1 April 2025 | 760,568 | 320,824 | 8,400 | 13,627 | 1,103,419
Charge for the year | 51,986 | 32,945 | 4,200 | - | 89,131
At 31 March 2026 | 812,554 | 353,769 | 12,600 | 13,627 | 1,192,550
Carrying amount
At 31 March 2026 | 1,792,227 | 160,721 | 8,400 | - | 1,961,348
At 31 March 2025 | 1,816,950 | 109,328 | 12,600 | - | 1,938,878

Included within the net book value of land and buildings above is £1,792,227 (2025 - £1,816,950) in respect of freehold land and buildings.

5 | Debtors

Current | 2026 £ | 2025 £
Trade debtors | 11,640 | 40,768
Prepayments | 14,080 | 28,245
| 25,720 | 69,013

6 | Creditors

Creditors: amounts falling due within one year

| 2026 £ | 2025 £
Due within one year |  |
Trade creditors | 57,882 | 136,787
Taxation and social security | 80,136 | 75,965
Accruals and deferred income | 70,681 | 86,937
Other creditors | 178,431 | 191,849
| 387,130 | 491,538