REGISTERED NUMBER: 13925592 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

SPAERA LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C Bulmer

S Pandini

C E Spencer

REGISTERED OFFICE:

10 John Street

London

WC1N 2EB

REGISTERED NUMBER:

13925592 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

3,190

10,351

Investments

5

750,000

750,000

753,190

760,351

CURRENT ASSETS

Debtors

6

10,951

50,959

Cash at bank

141,879

40,504

152,830

91,463

CREDITORS

Amounts falling due within one year

7

27,031

50,493

NET CURRENT ASSETS

125,799

40,970

TOTAL ASSETS LESS CURRENT LIABILITIES

878,989

801,321

CREDITORS

Amounts falling due after more than one year

8

2,104,687

1,718,041

NET LIABILITIES

(1,225,698

)

(916,720

)

CAPITAL AND RESERVES

Called up share capital

9

1,200

1,200

Other reserves

374,337

475,275

Retained earnings

(1,601,235

)

(1,393,195

)

SHAREHOLDERS' FUNDS

(1,225,698

)

(916,720

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 3 September 2026 and were signed on its behalf by:

S C Bulmer - Director

1.	STATUTORY INFORMATION

Spaera Ltd 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.

The financial statements have been prepared on a going concern basis as the director is involved in discussions with venture capital funding sources, and anticipate revenue increases within the next 12 months. The director is confident that the company remains a going concern for at least 12 months and 1 day from the signing of the balance sheet.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

Tangible fixed assets are initially recognised at cost.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each assets over its estimated useful life:

Plant and Machinery - 33% on cost

Government grants

Grant income is recognised in accordance with the grant contracts and is recognised on an accruals basis.

Grant income is included within other income in the profit and loss account.

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have Other Financial Instruments as covered by Section 12 of FRS102.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investments in joint ventures

Investments in Joint Ventures are held at cost less accumulated impairment losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2025 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

24,314

Additions

823

At 31 March 2026

25,137

DEPRECIATION

At 1 April 2025

13,963

Charge for year

7,984

At 31 March 2026

21,947

NET BOOK VALUE

At 31 March 2026

3,190

At 31 March 2025

10,351

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2025

and 31 March 2026

750,000

NET BOOK VALUE

At 31 March 2026

750,000

At 31 March 2025

750,000

The company invested £750,000 into Smart Green Shipping Alliance Ltd in return for a 7.5% equity shareholding.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Other debtors

10,951

50,959

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

1,637

23,483

Taxation and social security

20,494

17,817

Other creditors & accruals

4,900

9,193

27,031

50,493

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Other creditors

2,104,687

1,718,041

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs

2,104,687

1,718,041

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

1,200

Share capital 1

£1

1,200

1,200

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S C Bulmer.