Registration number: 08570791

Elevation Space Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Elevation Space Limited

Company Information

Directors

Mr C Rowe Mrs V Rowe Mrs J Rowe Mr S Rowe

Registered office

28 Alexandra Terrace Exmouth Devon EX8 1BD

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Elevation Space Limited

(Registration number: 08570791)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	163,217	165,657
Current assets
Debtors	5	45,954	40,430
Cash at bank and in hand		10,046	8,057
		56,000	48,487
Creditors: Amounts falling due within one year	6	(217,011)	(234,384)
Net current liabilities		(161,011)	(185,897)
Total assets less current liabilities		2,206	(20,240)
Creditors: Amounts falling due after more than one year	6	-	(5,746)
Net assets/(liabilities)		2,206	(25,986)
Capital and reserves
Called up share capital		1	1
Retained earnings		2,205	(25,987)
Shareholders' funds/(deficit)		2,206	(25,986)

For the financial 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.

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 26 October 2026 and signed on its behalf by:
 

......................................... Mrs V Rowe Director

Elevation Space Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

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.

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 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.

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.

Elevation Space Limited

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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
Leasehold improvements	10% straight line basis
Plant and machinery	10% straight line basis
Motor vehicles	25% straight line basis
Office equipment	33.3% straight line basis

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.

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.

Elevation Space Limited

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

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2025 - 4).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2025	193,419	12,778	2,827	165,802	374,826
Additions	-	283	-	-	283
At 31 January 2026	193,419	13,061	2,827	165,802	375,109
Depreciation
At 1 February 2025	29,269	12,041	2,121	165,738	209,169
Charge for the year	1,147	831	706	39	2,723
At 31 January 2026	30,416	12,872	2,827	165,777	211,892
Carrying amount
At 31 January 2026	163,003	189	-	25	163,217
At 31 January 2025	164,150	737	706	64	165,657

Included within the net book value of land and buildings above is £154,972 (2025 - £154,971) in respect of freehold land and buildings and £8,031 (2025 - £9,178) in respect of short leasehold land and buildings.
 

Elevation Space Limited

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

5

Debtors

	2026 £	2025 £
Trade debtors	44,092	36,132
Other debtors	-	1,520
Prepayments and accrued income	1,862	2,778
Total current trade and other debtors	45,954	40,430

6

Creditors

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	7	24,589	20,043
Trade creditors		25,443	69,138
Amounts owed to group undertakings and undertakings in which the company has a participating interest		76,128	68,808
Taxation and social security		12,970	9,769
Other creditors		56,311	46,572
Accrued expenses		3,802	1,638
Deferred income		17,768	18,416
		217,011	234,384

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	7	-	5,746

Elevation Space Limited

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

7	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	5,746	10,000
Bank overdrafts	18,843	10,043
	24,589	20,043

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	-	5,746

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,029,171 (2025 - £1,159,171).

9	Parent and ultimate parent undertaking

The company's immediate parent is Rowe Atlantic Limited, incorporated in England and Wales.