Company registration number 03937367 (England and Wales)
ESPACE EUROPE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
ESPACE EUROPE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
ESPACE EUROPE LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ESPACE EUROPE LIMITED FOR THE YEAR ENDED 31 MARCH 2026
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Espace Europe Limited for the year ended 31 March 2026 set out on pages 2 to 9 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Espace Europe Limited, as a body, in accordance with the terms of our engagement letter dated 25 August 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Espace Europe Limited and state those matters that we have agreed to state to the Board of Directors of Espace Europe Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Espace Europe Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Espace Europe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Espace Europe Limited. You consider that Espace Europe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Espace Europe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Spencer Gardner Dickins Limited
29 June 2026
2026-06-29
Chartered Accountants
3 Coventry Innovation Village
Cheetah Road
Coventry
CV1 2TL
ESPACE EUROPE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 2 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
3
30,982
45,281
Tangible assets
4
89,178
151,980
120,160
197,261
Current assets
Debtors
5
2,388,796
1,961,262
Cash at bank and in hand
645,209
172,277
3,034,005
2,133,539
Creditors: amounts falling due within one year
6
(2,372,469)
(1,636,460)
Net current assets
661,536
497,079
Total assets less current liabilities
781,696
694,340
Creditors: amounts falling due after more than one year
7
-
0
(13,334)
Provisions for liabilities
(17,460)
(17,983)
Net assets
764,236
663,023
Capital and reserves
Called up share capital
8
504
504
Profit and loss reserves
763,732
662,519
Total equity
764,236
663,023

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ESPACE EUROPE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 29 June 2026 and are signed on its behalf by:
V Patel
A J Williams
Director
Director
Company registration number 03937367 (England and Wales)
ESPACE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
1
Accounting policies
Company information

Espace Europe Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Newlands Court, Attwood Road, Burntwood, Staffordshire, WS7 3GF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

Espace Europe Limited is a wholly owned subsidiary of Espace Global Freight Limited. The results of the companies are available from the registered office.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue is earned from contracts for the provision of professional services in arranging transportation of goods and is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Intangible fixed assets - goodwill

G oodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold improvements
Over the term of the lease.
Fixtures, fittings and equipment
20% reducing balance or 12.5%/20% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ESPACE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ESPACE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement or holiday paid in advance of entitlement is recognised in the period in which the employee's services are received.

1.12
Retirement benefits

Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

1.14
Government grants

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
37
41
ESPACE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025 and 31 March 2026
148,530
Amortisation and impairment
At 1 April 2025
103,249
Amortisation charged for the year
14,299
At 31 March 2026
117,548
Carrying amount
At 31 March 2026
30,982
At 31 March 2025
45,281
4
Tangible fixed assets
Leasehold improvements
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2025
17,585
260,195
277,780
Additions
-
0
1,489
1,489
Disposals
-
0
(41,497)
(41,497)
At 31 March 2026
17,585
220,187
237,772
Depreciation and impairment
At 1 April 2025
8,837
116,963
125,800
Depreciation charged in the year
3,499
39,076
42,575
Eliminated in respect of disposals
-
0
(19,781)
(19,781)
At 31 March 2026
12,336
136,258
148,594
Carrying amount
At 31 March 2026
5,249
83,929
89,178
At 31 March 2025
8,748
143,232
151,980
ESPACE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
1,652,818
1,475,379
Amounts owed by group undertakings
358,674
358,674
Other debtors
273,402
39,128
Prepayments and accrued income
103,902
88,081
2,388,796
1,961,262

The balance owed by the parent company of £358,674 (2025 : £358,674) is interest free and repayable on demand.

6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
13,334
40,210
Other borrowings
-
0
600
Trade creditors
1,093,229
1,198,182
Corporation tax
55,365
(37)
Other taxation and social security
447,515
29,257
Government grants
2,157
3,236
Other creditors
58,352
75,134
Accruals and deferred income
702,517
289,878
2,372,469
1,636,460

Included in other creditors at the year end is an invoice factoring facility of £nil (202 5 : £51,117) which is secured by a fixed and floating charge over all assets of the company.

The company has a Coronavirus business interruption loan from its bankers which is ultimately guaranteed by the UK government under the terms of the CBILS scheme.

7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
-
0
13,334

The company has a Coronavirus business interruption loan from its bankers which is ultimately guaranteed by the UK government under the terms of the CBILS scheme.

8
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
500
500
500
500
ESPACE EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
8
Called up share capital
(Continued)
- 9 -
2026
2025
2026
2025
Preference share capital
Number
Number
£
£
Issued and fully paid
'A' Preference shares of £1 each
2
2
2
2
'B' Preference shares of £1 each
2
2
2
2
4
4
4
4
Preference shares classified as equity
4
4
Total equity share capital
504
504

Ordinary shares carry full and equal rights as to voting, dividends and distribution in the event of the company being wound up.

A and B preference shares do not carry voting rights but carry a right to a dividend as may be declared from time to time by the company but this shall not exceed £100,000 in any financial year.

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
108,844
215,554
10
Forward currency exchange contracts

During the year the company entered into forward currency exchange contracts. At the year end the company had outstanding balance commitments on these contracts of €625,000 (2025 : €500,000).

11
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption under the terms of FRS 102 not to disclose related party transactions with wholly owned subsidiaries within the group.

2026-03-31 2025-04-01 false false false 29 June 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity V Patel A J Williams K Vasey G Yates 03937367 2025-04-01 2026-03-31 03937367 2026-03-31 03937367 2025-03-31 03937367 core:NetGoodwill 2026-03-31 03937367 core:NetGoodwill 2025-03-31 03937367 core:LandBuildings 2026-03-31 03937367 core:OtherPropertyPlantEquipment 2026-03-31 03937367 core:LandBuildings 2025-03-31 03937367 core:OtherPropertyPlantEquipment 2025-03-31 03937367 core:CurrentFinancialInstruments core:WithinOneYear 2026-03-31 03937367 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 03937367 core:Non-currentFinancialInstruments core:AfterOneYear 2026-03-31 03937367 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 03937367 core:ShareCapital 2026-03-31 03937367 core:ShareCapital 2025-03-31 03937367 core:RetainedEarningsAccumulatedLosses 2026-03-31 03937367 core:RetainedEarningsAccumulatedLosses 2025-03-31 03937367 core:ShareCapitalOrdinaryShareClass1 2026-03-31 03937367 core:ShareCapitalOrdinaryShareClass1 2025-03-31 03937367 core:ShareCapitalPreferenceShareClass1 2026-03-31 03937367 core:ShareCapitalPreferenceShareClass1 2025-03-31 03937367 core:ShareCapitalPreferenceShareClass2 2025-03-31 03937367 core:ShareCapitalPreferenceShares 2026-03-31 03937367 core:ShareCapitalPreferenceShares 2025-03-31 03937367 bus:Director1 2025-04-01 2026-03-31 03937367 bus:Director2 2025-04-01 2026-03-31 03937367 core:Goodwill 2025-04-01 2026-03-31 03937367 core:LeaseholdImprovements 2025-04-01 2026-03-31 03937367 core:FurnitureFittings 2025-04-01 2026-03-31 03937367 core:MotorVehicles 2025-04-01 2026-03-31 03937367 1 2025-04-01 2026-03-31 03937367 2024-04-01 2025-03-31 03937367 core:NetGoodwill 2025-03-31 03937367 core:NetGoodwill 2025-04-01 2026-03-31 03937367 core:LandBuildings 2025-03-31 03937367 core:OtherPropertyPlantEquipment 2025-03-31 03937367 2025-03-31 03937367 core:LandBuildings 2025-04-01 2026-03-31 03937367 core:OtherPropertyPlantEquipment 2025-04-01 2026-03-31 03937367 core:CurrentFinancialInstruments 2026-03-31 03937367 core:CurrentFinancialInstruments 2025-03-31 03937367 core:Non-currentFinancialInstruments 2026-03-31 03937367 core:Non-currentFinancialInstruments 2025-03-31 03937367 bus:OrdinaryShareClass1 2025-04-01 2026-03-31 03937367 bus:PreferenceShareClass1 2025-04-01 2026-03-31 03937367 bus:PreferenceShareClass2 2025-04-01 2026-03-31 03937367 bus:OrdinaryShareClass1 2026-03-31 03937367 bus:OrdinaryShareClass1 2025-03-31 03937367 bus:PreferenceShareClass1 2026-03-31 03937367 bus:PreferenceShareClass1 2025-03-31 03937367 bus:PreferenceShareClass2 2026-03-31 03937367 bus:PreferenceShareClass2 2025-03-31 03937367 bus:AllPreferenceShares 2026-03-31 03937367 bus:AllPreferenceShares 2025-03-31 03937367 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 03937367 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 03937367 bus:FRS102 2025-04-01 2026-03-31 03937367 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 03937367 bus:Director3 2025-04-01 2026-03-31 03937367 bus:Director4 2025-04-01 2026-03-31 03937367 bus:FullAccounts 2025-04-01 2026-03-31 xbrli:pure xbrli:shares iso4217:GBP