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REGISTERED NUMBER: 02521856 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

SPACETITLE LIMITED

SPACETITLE LIMITED (REGISTERED NUMBER: 02521856)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPACETITLE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: G Knight





REGISTERED OFFICE: Studio 30-32
The Bell Centre
Newton Road
Crawley
West Sussex
RH10 9FZ





REGISTERED NUMBER: 02521856 (England and Wales)





ACCOUNTANTS: GBJ Financial Limited
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

SPACETITLE LIMITED (REGISTERED NUMBER: 02521856)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 44,750 56,250
Tangible assets 5 498,214 548,258
542,964 604,508

CURRENT ASSETS
Stocks 10,997 11,765
Debtors 6 250,388 227,342
Cash at bank and in hand 299,613 415,002
560,998 654,109
CREDITORS
Amounts falling due within one year 7 248,568 351,069
NET CURRENT ASSETS 312,430 303,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

855,394

907,548

CREDITORS
Amounts falling due after more than one
year

8

(98,338

)

(108,338

)

PROVISIONS FOR LIABILITIES (38,283 ) (38,283 )
NET ASSETS 718,773 760,927

CAPITAL AND RESERVES
Called up share capital 80 80
Retained earnings 718,693 760,847
718,773 760,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SPACETITLE LIMITED (REGISTERED NUMBER: 02521856)

BALANCE SHEET - continued
31 DECEMBER 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:




G Knight - Director



K R Knight - Director


SPACETITLE LIMITED (REGISTERED NUMBER: 02521856)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Spacetitle 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures, fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

SPACETITLE LIMITED (REGISTERED NUMBER: 02521856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

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.

Going concern
The financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 115,000
AMORTISATION
At 1 January 2022 58,750
Amortisation for year 11,500
At 31 December 2022 70,250
NET BOOK VALUE
At 31 December 2022 44,750
At 31 December 2021 56,250

SPACETITLE LIMITED (REGISTERED NUMBER: 02521856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


5. TANGIBLE FIXED ASSETS
Fixtures,
Improvements fittings
to Plant and and Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 January 2022 395,819 664,062 203,656 134,611 1,398,148
Additions - 2,054 5,743 - 7,797
At 31 December 2022 395,819 666,116 209,399 134,611 1,405,945
DEPRECIATION
At 1 January 2022 140,359 454,983 173,320 81,228 849,890
Charge for year 7,677 25,768 5,095 19,301 57,841
At 31 December 2022 148,036 480,751 178,415 100,529 907,731
NET BOOK VALUE
At 31 December 2022 247,783 185,365 30,984 34,082 498,214
At 31 December 2021 255,460 209,079 30,336 53,383 548,258

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 226,574 206,018
Other debtors 23,814 21,324
250,388 227,342

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Payments on account 17,213 17,213
Trade creditors 58,702 63,409
Taxation and social security 160,154 228,156
Other creditors 2,499 32,291
248,568 351,069

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 24,167 34,167
Other creditors 74,171 74,171
98,338 108,338