Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-05-01specialist fit out contractors94truetrue 12563878 2022-05-01 2023-04-30 12563878 2021-05-01 2022-04-30 12563878 2023-04-30 12563878 2022-04-30 12563878 c:Director1 2022-05-01 2023-04-30 12563878 d:PlantMachinery 2022-05-01 2023-04-30 12563878 d:PlantMachinery 2023-04-30 12563878 d:PlantMachinery 2022-04-30 12563878 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12563878 d:FurnitureFittings 2022-05-01 2023-04-30 12563878 d:FurnitureFittings 2023-04-30 12563878 d:FurnitureFittings 2022-04-30 12563878 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12563878 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12563878 d:CurrentFinancialInstruments 2023-04-30 12563878 d:CurrentFinancialInstruments 2022-04-30 12563878 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 12563878 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 12563878 d:ShareCapital 2023-04-30 12563878 d:ShareCapital 2022-04-30 12563878 d:RetainedEarningsAccumulatedLosses 2023-04-30 12563878 d:RetainedEarningsAccumulatedLosses 2022-04-30 12563878 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 12563878 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-04-30 12563878 c:FRS102 2022-05-01 2023-04-30 12563878 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 12563878 c:FullAccounts 2022-05-01 2023-04-30 12563878 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 12563878









SPACEBUILD INTERIORS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

 
SPACEBUILD INTERIORS LIMITED
REGISTERED NUMBER: 12563878

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,409
17,389

  
14,409
17,389

Current assets
  

Stocks
 5 
225,000
45,000

Debtors: amounts falling due within one year
 6 
1,172,439
454,937

Cash at bank and in hand
 7 
609,138
290,243

  
2,006,577
790,180

Creditors: amounts falling due within one year
 8 
(1,601,133)
(666,049)

Net current assets
  
 
 
405,444
 
 
124,131

Total assets less current liabilities
  
419,853
141,520

  

Net assets
  
419,853
141,520


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
418,853
140,520

  
419,853
141,520


Page 1

 
SPACEBUILD INTERIORS LIMITED
REGISTERED NUMBER: 12563878
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 October 2023.




................................................
Alan Beale
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SPACEBUILD INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

The Company was incorporated in England and Wales and is a private company limited by share capital. The principal activity throughout the year was that of specialist fit-out contractors. The principal place of business of the Company is 5 Centre One, Lysander Way, Old Sarum, Salisbury, Wiltshire, SP4 6BU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
SPACEBUILD INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
SPACEBUILD INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 4).

Page 5

 
SPACEBUILD INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 May 2022
-
23,461
23,461


Additions
955
806
1,761



At 30 April 2023

955
24,267
25,222



Depreciation


At 1 May 2022
-
6,072
6,072


Charge for the year on owned assets
191
4,550
4,741



At 30 April 2023

191
10,622
10,813



Net book value



At 30 April 2023
764
13,645
14,409



At 30 April 2022
-
17,389
17,389


5.


Stocks

2023
2022
£
£

Stock and work in progress
225,000
45,000

225,000
45,000


Page 6

 
SPACEBUILD INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,165,296
454,312

Other debtors
2,823
-

Prepayments and accrued income
4,320
625

1,172,439
454,937



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
609,138
290,243

609,138
290,243



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
806,607
49,270

Corporation tax
84,922
48,701

Other taxation and social security
352,732
206,905

Other creditors
354,262
358,192

Accruals and deferred income
2,610
2,981

1,601,133
666,049



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
609,138
290,243




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 7

 
SPACEBUILD INTERIORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £26,522 (2022 - £27,294). Contributions totalling £514 (2022 - £457)  were payable to the fund at the balance sheet date and are included in creditors.


11.


Controlling party

The Company is controlled by the directors Alan Beale and Helen Beale, by virtue of their shareholdings, as described in the Directors' report.

 
Page 8