Company Registration No. 04356852 (England and Wales)
Space Asset Ltd
Unaudited accounts
for the year ended 30 June 2023
Space Asset Ltd
Unaudited accounts
Contents
Space Asset Ltd
Company Information
for the year ended 30 June 2023
Company Number
04356852 (England and Wales)
Registered Office
Alston
Crouch Lane
Windsor
Berkshire
SL4 4TN
Accountants
Newnham & Son Ltd
School Master's House
39 College Street
Petersfield
Hampshire
GU31 4AG
Space Asset Ltd
Statement of financial position
as at 30 June 2023
Cash at bank and in hand
22,929
32,331
Creditors: amounts falling due within one year
(1,531)
(1,481)
Net current assets
21,398
30,850
Total assets less current liabilities
21,671
31,214
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
21,501
31,044
Shareholders' funds
21,601
31,144
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 September 2023 and were signed on its behalf by
R A Polson
Director
Company Registration No. 04356852
Space Asset Ltd
Notes to the Accounts
for the year ended 30 June 2023
Space Asset Ltd is a private company, limited by shares, registered in England and Wales, registration number 04356852. The registered office is Alston, Crouch Lane, Windsor, Berkshire, SL4 4TN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Space Asset Ltd
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Plant & machinery
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
(293)
(31)
Loans from directors
624
312
6
Transactions with related parties
Dividends totaling £Nil (2022 - £2,000) were paid during the year to the director.
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).