Company Registration No. 10680135 (England and Wales)
Stress-Space Ltd.
Unaudited accounts
for the year ended 31 March 2023
Stress-Space Ltd.
Unaudited accounts
Contents
Stress-Space Ltd.
Company Information
for the year ended 31 March 2023
Directors
Dr S Paddea
Dr F Hosseinzadh Torknezhad
J Deriaz
Professor P J Bouchard
Company Number
10680135 (England and Wales)
Registered Office
1 Stairs Lane
Steeple Claydon
Buckingham
MK18 2RA
Accountants
E Kounting Limited
Fenny Compton
Southam
Warwickshire
Stress-Space Ltd.
Statement of financial position
as at 31 March 2023
Tangible assets
101,746
34,062
Cash at bank and in hand
318,680
145,251
Creditors: amounts falling due within one year
(99,152)
(6,278)
Net current assets
258,558
152,027
Total assets less current liabilities
360,304
186,089
Provisions for liabilities
Deferred tax
(19,332)
(6,472)
Net assets
340,972
179,617
Called up share capital
100
100
Profit and loss account
340,872
179,517
Shareholders' funds
340,972
179,617
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by
Dr S Paddea
Director
Company Registration No. 10680135
Stress-Space Ltd.
Notes to the Accounts
for the year ended 31 March 2023
Stress-Space Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10680135. The registered office is 1 Stairs Lane, Steeple Claydon, Buckingham, MK18 2RA.
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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.
The accounts are presented in £ sterling.
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:
Plant & machinery
25% straight line basis
Computer equipment
25% straight line basis
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.
Expenditure on research and development is written off in the year in which it is incurred.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Stress-Space Ltd.
Notes to the Accounts
for the year ended 31 March 2023
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.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
44,009
3,388
47,397
Additions
104,695
1,349
106,044
At 31 March 2023
148,704
4,737
153,441
At 1 April 2022
11,002
2,333
13,335
Charge for the year
37,176
1,184
38,360
At 31 March 2023
48,178
3,517
51,695
At 31 March 2023
100,526
1,220
101,746
At 31 March 2022
33,007
1,055
34,062
Amounts falling due within one year
Trade debtors
34,182
5,248
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
77,343
1,416
Taxes and social security
20,672
(87)
Loans from directors
312
1,812
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Average number of employees
During the year the average number of employees was 3 (2022: 2).