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REGISTERED NUMBER: 05550280 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

AMAZING SPACE (LOFT CONVERSIONS) LIMITED

AMAZING SPACE (LOFT CONVERSIONS) LIMITED (REGISTERED NUMBER: 05550280)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMAZING SPACE (LOFT CONVERSIONS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: O Komazec
J H Pescod
P J Ramsay





SECRETARY: O Komazec





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 05550280 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

AMAZING SPACE (LOFT CONVERSIONS) LIMITED (REGISTERED NUMBER: 05550280)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 1,040 2,000
Tangible assets 4 39,177 36,499
40,217 38,499

CURRENT ASSETS
Stocks 5 3,500 3,000
Debtors 6 36,061 36,625
Cash at bank 260,778 232,853
300,339 272,478
CREDITORS
Amounts falling due within one year 7 235,637 224,749
NET CURRENT ASSETS 64,702 47,729
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,919

86,228

PROVISIONS FOR LIABILITIES 8,837 6,161
NET ASSETS 96,082 80,067

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 96,078 80,063
SHAREHOLDERS' FUNDS 96,082 80,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AMAZING SPACE (LOFT CONVERSIONS) LIMITED (REGISTERED NUMBER: 05550280)

BALANCE SHEET - continued
31 JULY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:




O Komazec - Director



J H Pescod - Director


AMAZING SPACE (LOFT CONVERSIONS) LIMITED (REGISTERED NUMBER: 05550280)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 Income Statement, 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 taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 18 ) .

AMAZING SPACE (LOFT CONVERSIONS) LIMITED (REGISTERED NUMBER: 05550280)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 August 2022
and 31 July 2023 4,800
AMORTISATION
At 1 August 2022 2,800
Amortisation for year 960
At 31 July 2023 3,760
NET BOOK VALUE
At 31 July 2023 1,040
At 31 July 2022 2,000

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 1,343 2,996 102,449 8,017 114,805
Additions - - 16,500 933 17,433
Disposals - - (12,995 ) - (12,995 )
At 31 July 2023 1,343 2,996 105,954 8,950 119,243
DEPRECIATION
At 1 August 2022 869 2,060 68,497 6,880 78,306
Charge for year 118 234 9,958 1,133 11,443
Eliminated on disposal - - (9,683 ) - (9,683 )
At 31 July 2023 987 2,294 68,772 8,013 80,066
NET BOOK VALUE
At 31 July 2023 356 702 37,182 937 39,177
At 31 July 2022 474 936 33,952 1,137 36,499

5. STOCKS
2023 2022
£    £   
Stocks 3,500 3,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,750 2,750
Amounts recoverable on
contract 13,000 15,000
Prepayments 20,311 18,875
36,061 36,625

AMAZING SPACE (LOFT CONVERSIONS) LIMITED (REGISTERED NUMBER: 05550280)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 38,340 30,427
Tax 35,878 41,609
Social security and other taxes 32,466 15,371
VAT 98,493 83,601
Other creditors 28,152 53,064
Directors' loan accounts 1,969 513
Accrued expenses 339 164
235,637 224,749

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, O Komazec increased his loan to the company. As at 31 July 2023, the company owed him £1,241 (2022: £513). This balance represents the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

During the year, J Pescod introduced a loan to the company. As at 31 July 2023, the company owed him £728 (2022: £0). This balance represents the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is O Komazec, Mrs A Komazec & Miss AKomazec.

This was by virtue of their 65% holding of the issued share capital in Amazing Space Holding Company Limited, the ultimate parent company.