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REGISTERED NUMBER: 09241222 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

COLSPACE LIMITED

COLSPACE LIMITED (REGISTERED NUMBER: 09241222)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COLSPACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: S R Collins
J S Collins
Mrs H Martin





REGISTERED OFFICE: The Atrium Business Centre
Curtis Road
Dorking
Surrey
RH4 1XA





REGISTERED NUMBER: 09241222 (England and Wales)





AUDITORS: Ellis Atkins
Chartered Accountants
Statutory Auditor
The Atrium Business Centre
Curtis Road
Dorking
Surrey
RH4 1XA

COLSPACE LIMITED (REGISTERED NUMBER: 09241222)

BALANCE SHEET
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £    £   
CURRENT ASSETS
Stocks 6 2,431,131 2,429,691
Debtors 7 7,685 4,790
Cash at bank 419,730 426,808
2,858,546 2,861,289
CREDITORS
Amounts falling due within one year 8 958,102 1,216,499
NET CURRENT ASSETS 1,900,444 1,644,790
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,900,444

1,644,790

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 1,999,800 1,999,800
Retained earnings (99,556 ) (355,210 )
SHAREHOLDERS' FUNDS 1,900,444 1,644,790

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 Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:




S R Collins - Director



Mrs H Martin - Director


COLSPACE LIMITED (REGISTERED NUMBER: 09241222)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Colspace 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Stocks
Stock includes properties for sale and work in progress which are valued at the lower of cost and net realisable value.

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.

3. EMPLOYEES AND DIRECTORS

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

COLSPACE LIMITED (REGISTERED NUMBER: 09241222)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. AUDITORS' REMUNERATION
28/2/23 28/2/22
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

1,320

1,230

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022
and 28 February 2023 1,908
DEPRECIATION
At 1 March 2022
and 28 February 2023 1,908
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

6. STOCKS
28/2/23 28/2/22
£    £   
Work-in-progress 207,534 206,094
Property held for sale 2,223,597 2,223,597
2,431,131 2,429,691

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Other debtors 7,685 4,790

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Taxation and social security 59,968 -
Other creditors 898,134 1,216,499
958,102 1,216,499

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Longstaff (Senior Statutory Auditor)
for and on behalf of Ellis Atkins

COLSPACE LIMITED (REGISTERED NUMBER: 09241222)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

10. RELATED PARTY DISCLOSURES

During the year a shareholder in the company loaned £11 to the company (2022 £667,016). This loan is secured, repayable on demand and has a variable rate of interest which is reviewed annually.