Caseware UK (AP4) 2022.0.179 2022.0.179 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-01-01falsemanufacture and fittimg of bespoke storage42true 09923356 2022-01-01 2022-12-31 09923356 2021-01-01 2021-12-31 09923356 2022-12-31 09923356 2021-12-31 09923356 c:Director1 2022-01-01 2022-12-31 09923356 d:PlantMachinery 2022-01-01 2022-12-31 09923356 d:PlantMachinery 2022-12-31 09923356 d:PlantMachinery 2021-12-31 09923356 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09923356 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 09923356 d:MotorVehicles 2022-01-01 2022-12-31 09923356 d:MotorVehicles 2022-12-31 09923356 d:MotorVehicles 2021-12-31 09923356 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09923356 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 09923356 d:OfficeEquipment 2022-01-01 2022-12-31 09923356 d:OfficeEquipment 2022-12-31 09923356 d:OfficeEquipment 2021-12-31 09923356 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09923356 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 09923356 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09923356 d:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 09923356 d:CurrentFinancialInstruments 2022-12-31 09923356 d:CurrentFinancialInstruments 2021-12-31 09923356 d:Non-currentFinancialInstruments 2022-12-31 09923356 d:Non-currentFinancialInstruments 2021-12-31 09923356 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09923356 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09923356 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09923356 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 09923356 d:ShareCapital 2022-12-31 09923356 d:ShareCapital 2021-12-31 09923356 d:RetainedEarningsAccumulatedLosses 2022-12-31 09923356 d:RetainedEarningsAccumulatedLosses 2021-12-31 09923356 c:FRS102 2022-01-01 2022-12-31 09923356 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 09923356 c:FullAccounts 2022-01-01 2022-12-31 09923356 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09923356 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 09923356 d:HirePurchaseContracts d:WithinOneYear 2021-12-31 09923356 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 09923356 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-12-31 09923356 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 09923356 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-12-31 iso4217:GBP xbrli:pure
Registered number: 09923356





 
Space Tidy Ltd          
 
Financial statements          

For the year ended 31 December 2022          

 
Space Tidy Ltd
Registered number:09923356

Balance sheet
As at 31 December 2022


2022

2021 
                                                                                  Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
38,319
45,899

Current assets
  

Stock
 5 
5,000
-

Debtors
 6 
922
-

Cash at bank and in hand
 7 
32,958
40,305

  
38,880
40,305

Creditors: amounts falling due within one year
 8 
(49,615)
(30,475)

Net current (liabilities)/assets
  
 
 
(10,735)
 
 
9,830

Total assets less current liabilities
  
27,584
55,729

Creditors: amounts falling due after more than one year
 9 
(7,070)
(11,110)

Provisions for liabilities
  

Deferred tax
  
(9,580)
(11,475)

Net assets
  
10,934
33,144


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
10,834
33,044

  
10,934
33,144


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.



 
Page 1

 
Space Tidy Ltd
Registered number:09923356
    
Balance sheet (continued)
As at 31 December 2022

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 2 October 2023.



M Robertson
Director
























The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
Space Tidy Ltd
 
 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

Space Tidy Ltd is a private company limited by shares, incorporated in England and Wales. Its registered office is 19 Merlin Way, Wickford, Essex, United Kingdom, SS11 7HB.

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

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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

 
Space Tidy Ltd
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.6

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, using both a reducing balance and straight line basis.

Depreciation is provided at the following rates:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
33%
straight line

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.

 
2.7

Stock

Stock is 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, stock is 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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Page 4

 
Space Tidy Ltd
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.10
Financial instruments (continued)

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will
Page 5

 
Space Tidy Ltd
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.10
Financial instruments (continued)

continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

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.

Page 6

 
Space Tidy Ltd
 
 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 2).

Page 7

 
Space Tidy Ltd
 
 
Notes to the financial statements
For the year ended 31 December 2022

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost 


At 1 January 2022
29,920
40,034
2,216
72,170


Additions
2,215
-
-
2,215


Transfers between classes
(967)
-
967
-



At 31 December 2022

31,168
40,034
3,183
74,385



Depreciation


At 1 January 2022
7,284
16,893
2,094
26,271


Charge for the year: owned
3,306
1,317
703
5,326


Charege for the year: financed
-
4,469
-
4,469



At 31 December 2022

10,590
22,679
2,797
36,066



Net book value



At 31 December 2022
20,578
17,355
386
38,319



At 31 December 2021
22,636
23,141
122
45,899

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2022
2021
£
£



Motor vehicles
13,406
17,875


5.


Stock

2022
2021
£
£

Finished goods
5,000
-


Page 8

 
Space Tidy Ltd
 
 
Notes to the financial statements
For the year ended 31 December 2022

6.


Debtors

2022
2021
£
£


Trade debtors
209
-

Other debtors
713
-

922
-



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
32,958
40,306



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
-
261

Corporation tax
3,464
12,721

Other taxation and social security
11,783
11,056

Obligations under finance lease and hire purchase contracts
4,040
4,040

Other creditors (inc. directors' loans)
27,690
297

Accruals and deferred income
2,638
2,100

49,615
30,475



9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Net obligations under finance leases and hire purchase contracts
7,070
11,110


Page 9

 
Space Tidy Ltd
 
 
Notes to the financial statements
For the year ended 31 December 2022

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2022
2021
£
£


Within one year
4,040
4,040

Between 1-5 years
7,070
11,110

11,110
15,150


11.


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  represents contributions payable by the company  to the fund and amounted to £1,290 (2021 - £Nil).

 
Page 10