Silverfin false 31/12/2021 31/12/2021 01/01/2021 S H O'Callaghan 12/01/2009 S J O'Callaghan 12/01/2009 T B O'Callaghan 12/01/2009 20 May 2022 The principal activity of the Company during the financial year was that of commercial office space design consultancy and project management. 06578145 2021-12-31 06578145 bus:Director1 2021-12-31 06578145 bus:Director2 2021-12-31 06578145 bus:Director3 2021-12-31 06578145 2020-12-31 06578145 core:CurrentFinancialInstruments 2021-12-31 06578145 core:CurrentFinancialInstruments 2020-12-31 06578145 core:Non-currentFinancialInstruments 2021-12-31 06578145 core:Non-currentFinancialInstruments 2020-12-31 06578145 core:ShareCapital 2021-12-31 06578145 core:ShareCapital 2020-12-31 06578145 core:RetainedEarningsAccumulatedLosses 2021-12-31 06578145 core:RetainedEarningsAccumulatedLosses 2020-12-31 06578145 core:LandBuildings 2020-12-31 06578145 core:PlantMachinery 2020-12-31 06578145 core:FurnitureFittings 2020-12-31 06578145 core:OfficeEquipment 2020-12-31 06578145 core:LandBuildings 2021-12-31 06578145 core:PlantMachinery 2021-12-31 06578145 core:FurnitureFittings 2021-12-31 06578145 core:OfficeEquipment 2021-12-31 06578145 core:CostValuation 2020-12-31 06578145 core:DisposalsDecreaseInInvestments 2021-12-31 06578145 core:CostValuation 2021-12-31 06578145 2021-01-01 2021-12-31 06578145 bus:FullAccounts 2021-01-01 2021-12-31 06578145 bus:SmallEntities 2021-01-01 2021-12-31 06578145 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 06578145 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 06578145 bus:Director1 2021-01-01 2021-12-31 06578145 bus:Director2 2021-01-01 2021-12-31 06578145 bus:Director3 2021-01-01 2021-12-31 06578145 core:LandBuildings core:TopRangeValue 2021-01-01 2021-12-31 06578145 core:PlantMachinery 2021-01-01 2021-12-31 06578145 core:FurnitureFittings 2021-01-01 2021-12-31 06578145 core:OfficeEquipment core:TopRangeValue 2021-01-01 2021-12-31 06578145 2019-07-01 2020-12-31 06578145 core:LandBuildings 2021-01-01 2021-12-31 06578145 core:OfficeEquipment 2021-01-01 2021-12-31 06578145 core:Non-currentFinancialInstruments 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Company No: 06578145 (England and Wales)

SPACE & SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2021
Pages for filing with the registrar

SPACE & SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2021

Contents

SPACE & SOLUTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2021
SPACE & SOLUTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2021
DIRECTORS S H O'Callaghan
S J O'Callaghan
T B O'Callaghan
REGISTERED OFFICE Towngate House
2-8 Parkstone Road
Poole
BH15 2PW
United Kingdom
BUSINESS ADDRESS 9 Queensway
New Milton
Hampshire
BH25 5NN
COMPANY NUMBER 06578145 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Towngate House
2-8 Parkstone Road
Poole
Dorset BH15 2PW
SPACE & SOLUTIONS LIMITED

BALANCE SHEET

As at 31 December 2021
SPACE & SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 December 2021
Note 31.12.2021 31.12.2020
£ £
Fixed assets
Tangible assets 3 26,085 31,521
Investments 4 0 200
26,085 31,721
Current assets
Stocks 5 11,500 1,000
Debtors 6 2,103,406 1,246,846
Cash at bank and in hand 53,508 909,047
2,168,414 2,156,893
Creditors
Amounts falling due within one year 7 ( 1,858,592) ( 1,802,684)
Net current assets 309,822 354,209
Total assets less current liabilities 335,907 385,930
Creditors
Amounts falling due after more than one year 8 ( 245,000) ( 329,664)
Provision for liabilities ( 4,893) ( 5,799)
Net assets 86,014 50,467
Capital and reserves
Called-up share capital 100 100
Profit and loss account 85,914 50,367
Total shareholder's funds 86,014 50,467

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Space & Solutions Limited (registered number: 06578145) were approved and authorised for issue by the Board of Directors on 20 May 2022. They were signed on its behalf by:

S J O'Callaghan
Director
SPACE & SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
SPACE & SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Space & Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 9 Queensway, New Milton, Hampshire, BH25 5NN.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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.

2. Employees

Year ended
31.12.2021
Period from
01.07.2019 to
31.12.2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 34 45

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 January 2021 3,339 4,411 156,016 139,186 302,952
Additions 0 0 0 11,847 11,847
At 31 December 2021 3,339 4,411 156,016 151,033 314,799
Accumulated depreciation
At 01 January 2021 2,338 1,886 140,821 126,386 271,431
Charge for the financial year 668 631 3,799 12,185 17,283
At 31 December 2021 3,006 2,517 144,620 138,571 288,714
Net book value
At 31 December 2021 333 1,894 11,396 12,462 26,085
At 31 December 2020 1,001 2,525 15,195 12,800 31,521

4. Fixed asset investments

Investments in subsidiaries

31.12.2021
£
Cost
At 01 January 2021 200
Disposals ( 200)
At 31 December 2021 0
Carrying value at 31 December 2021 0
Carrying value at 31 December 2020 200

5. Stocks

31.12.2021 31.12.2020
£ £
Stocks 11,500 1,000

6. Debtors

31.12.2021 31.12.2020
£ £
Trade debtors 1,406,945 1,160,413
Amounts owed by Group undertakings 110,651 0
Other debtors 585,810 86,433
2,103,406 1,246,846

7. Creditors: amounts falling due within one year

31.12.2021 31.12.2020
£ £
Bank loans 70,000 20,336
Trade creditors 1,057,082 1,163,348
Amounts owed to Group undertakings 0 4,829
Other creditors 133,163 65,235
Corporation tax 31,201 37,027
Other taxation and social security 567,146 511,909
1,858,592 1,802,684

8. Creditors: amounts falling due after more than one year

31.12.2021 31.12.2020
£ £
Bank loans 245,000 329,664

There are no amounts included above in respect of which any security has been given by the small entity.

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

31.12.2021 31.12.2020
£ £
Scape Construct Limited 160,000 237,000

The above transaction amounts relate to management charges receivable from Scape Construct Limited, a wholly owned subsidiary of Space & Solutions Limited.

Transactions with the entity's directors

31.12.2021 31.12.2020
£ £
S J O'Callaghan (2,100) (1,942)
S H O'Callaghan (2,100) (1,941)
T B O'Callaghan 65,374 24,619

Interest of £1,099 (2020: £418) was charged on the overdrawn directors' loan account at the HMRC official rate of 2%.

10. Ultimate controlling party

Parent Company:

Simul Group Limited