REGISTERED NUMBER: 10758007 (England and Wales)

YOURSPACE PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C S Davey

P Davey

REGISTERED OFFICE:

Churchgate House

3 Church Road

Whitchurch

Cardiff

SOUTH GLAMORGAN

CF14 2DX

REGISTERED NUMBER:

10758007 (England and Wales)

FIXED ASSETS

Tangible assets

4

117,483

90,790

CURRENT ASSETS

Stocks

123,000

109,000

Debtors

5

1,060,986

771,672

Cash at bank

782,971

395,221

1,966,957

1,275,893

CREDITORS

Amounts falling due within one year

6

1,610,399

992,124

NET CURRENT ASSETS

356,558

283,769

TOTAL ASSETS LESS CURRENT LIABILITIES

474,041

374,559

CREDITORS

Amounts falling due after more than one year

7

(236,516

)

(236,533

)

PROVISIONS FOR LIABILITIES

10

(29,371

)

-

NET ASSETS

208,154

138,026

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

208,054

137,926

SHAREHOLDERS' FUNDS

208,154

138,026

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 15 July 2026 and were signed on its behalf by:

C S Davey - Director

1.	STATUTORY INFORMATION

Yourspace Projects 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

In making their assessment, the directors have reviewed the company's financial position, projected cashflows and committed work pipeline, together with the facilities available to the company and the director's continued support where required.

At the date of approval of the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis continues to be adopted in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services:

Turnover represents the value of work done in the period, including estimate of amounts not invoiced net of VAT. Turnover in respect of long term contracts is recognised by reference to stage of completion.

The timing of income recognition for long term contracts is matched with the evaluation and completeness of work undertaken as detailed in the work in progress accounting policy

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Work in progress

Is valued on the basis of direct costs. Provisions are made for any foreseeable losses where appropriate. No element of profit is included in the value of work in progress.

The attributable profit on long term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2025

8,373

11,447

133,720

12,982

166,522

Additions

-

4,952

46,610

4,878

56,440

At 31 May 2026

8,373

16,399

180,330

17,860

222,962

DEPRECIATION

At 1 June 2025

4,375

1,558

62,619

7,180

75,732

Charge for year

999

2,732

22,419

3,597

29,747

At 31 May 2026

5,374

4,290

85,038

10,777

105,479

NET BOOK VALUE

At 31 May 2026

2,999

12,109

95,292

7,083

117,483

At 31 May 2025

3,998

9,889

71,101

5,802

90,790

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2025

72,005

Additions

37,500

Transfer to ownership

(13,815

)

At 31 May 2026

95,690

DEPRECIATION

At 1 June 2025

50,912

Charge for year

10,285

Transfer to ownership

(21,363

)

At 31 May 2026

39,834

NET BOOK VALUE

At 31 May 2026

55,856

At 31 May 2025

21,093

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

949,415

726,859

Other debtors

200

17,440

Directors' current accounts

6,347

-

VAT

-

8,652

Deferred tax asset

-

10,427

Prepayments and accrued income

105,024

8,294

1,060,986

771,672

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

199,918

260,346

Hire purchase contracts (see note 8)

33,620

7,487

Trade creditors

1,106,317

381,873

Taxation and social security

33,480

-

Other creditors

237,064

342,418

1,610,399

992,124

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

208,391

210,417

Hire purchase contracts (see note 8)

28,125

26,116

236,516

236,533

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2026

2025

£

£

Net obligations repayable:

Within one year

33,620

7,487

Between one and five years

28,125

26,116

61,745

33,603

Non-cancellable

operating leases

2026

2025

£

£

Within one year

11,700

7,453

Between one and five years

17,312

-

29,012

7,453

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

297,050

430,417

Hire purchase contracts

61,745

33,603

358,795

464,020

The bank loans have been secured personally by one of the directors. Hire purchase liabilities have been secured against the assets to which they relate.

10.	PROVISIONS FOR LIABILITIES

2026

£

Deferred tax

29,371

Deferred

tax

£

Balance at 1 June 2025

(10,427

)

Accelerated capital allowances

6,674

Available on taxable losses

33,124

Balance at 31 May 2026

29,371

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary

£1.00

100

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2026 and 31 May 2025:

2026

2025

£

£

C S Davey

Balance outstanding at start of year

-

20,008

Amounts advanced

6,347

-

Amounts repaid

-

(20,008

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,347

-

All amounts due from the director are considered interest free and repayable on demand.

13.	RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year is an amount of £4,750 (2025 - £4,750) owed to Kyona Holdings Limited, the parent company.

Included in creditors, amounts falling due within one year is an amount of £34,000 (2025 - £42,000) owed to CAIO Properties Limited, a company under the control of one of the directors.

During the year the company incurred other loan interest of £600 (2025 - £5,800) from CAIO Properties Limited.

All other amounts due to and from the company are considered interest free and repayable on demand.

During the year the company rendered services to the value of £95,000 (2025 - £56,000) to Landsker Projects Limited for construction and property development services, a company under common control.

During the year the company incurred management fees costs of £42,000 (2025 - £48,000) for management services provided, from Keelson Ltd.

During the year the company incurred management fees costs of £30,000 (2025 - £46,000) for management services provided, from a director.

14.	ULTIMATE CONTROLLING PARTY

100% of the share capital of Yourspace Projects Limited is owned by its immediate parent company, Kyona Holdings Limited.

The company and group is ultimately controlled by C S Davey, who owns 100% of the share capital of Kyona Holdings Limited.