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Registration number: 12727591

CoSpace Group Bath MP Limited

trading as CoSpace Bath MP

Unaudited Financial Statements

for the Year Ended 31 December 2022

 

CoSpace Group Bath MP Limited

trading as CoSpace Bath MP

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

CoSpace Group Bath MP Limited

trading as CoSpace Bath MP

(Registration number: 12727591)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

-

3,695

Current assets

 

Debtors

5

2,650

2,900

Cash at bank and in hand

 

342

103

 

2,992

3,003

Creditors: Amounts falling due within one year

6

(32,954)

(18,226)

Net current liabilities

 

(29,962)

(15,223)

Total assets less current liabilities

 

(29,962)

(11,528)

Provisions for liabilities

3,564

-

Net liabilities

 

(26,398)

(11,528)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(26,498)

(11,628)

Shareholders' deficit

 

(26,398)

(11,528)

For the financial year ending 31 December 2022 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.

Approved and authorised by the Board on 28 September 2023 and signed on its behalf by:
 

 

CoSpace Group Bath MP Limited

trading as CoSpace Bath MP

(Registration number: 12727591)
Balance Sheet as at 31 December 2022

.........................................
Mr W Stokes
Director

.........................................
Mr A Thomas
Director

 

CoSpace Group Bath MP Limited

trading as CoSpace Bath MP

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
25 Town Square
Stevenage
Hertfordshire
SG1 1BP

These financial statements were authorised for issue by the Board on 28 September 2023.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At balance sheet date the company had net current liabilities of 29,962 (2021: £15,223) and retained losses of £30,062 (2021: 11,528). The company is financially supported by the group and on this basis, the directors feel it is appropriate to prepare these financial statements on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tax

The tax expense for the period comprises deferred 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.

 

CoSpace Group Bath MP Limited

trading as CoSpace Bath MP

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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 at the transaction.

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.

 

CoSpace Group Bath MP Limited

trading as CoSpace Bath MP

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2022

3,695

3,695

At 31 December 2022

3,695

3,695

Depreciation

Eliminated on disposal

3,695

3,695

At 31 December 2022

3,695

3,695

Carrying amount

At 31 December 2022

-

-

At 31 December 2021

3,695

3,695

Included within the net book value of land and buildings above is £Nil (2021 - £3,695) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2022
£

2021
£

Other debtors

2,650

2,900

 

CoSpace Group Bath MP Limited

trading as CoSpace Bath MP

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

-

734

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

32,954

17,492

 

32,954

18,226

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Related party transactions

Summary of transactions with parent

At balance sheet date the company owed £32,954 (2021: £17,492) to Cospace group limited the parent company. There is no interest charged and the amount is fully repayable on demand.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Gospace Group Limited, incorporated in England & Wales.

 The ultimate controlling party is Mr W Stokes & Mr A Thomas by virtue of their shareholding in the parent company.