REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2023 |
for |
Space For Space Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2023 |
for |
Space For Space Ltd |
Space For Space Ltd (Registered number: 11935480) |
Contents of the Financial Statements |
for the Year Ended 30 April 2023 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Space For Space Ltd (Registered number: 11935480) |
Statement of Financial Position |
30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
Space For Space Ltd (Registered number: 11935480) |
Statement of Financial Position - continued |
30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Space For Space Ltd (Registered number: 11935480) |
Notes to the Financial Statements |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Space For Space Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Computer equipment | - |
Investment property |
The investment properties are shown at their fair market valuation that it exists on the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 statement of financial position date. |
Space For Space Ltd (Registered number: 11935480) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Computer |
equipment |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Space For Space Ltd (Registered number: 11935480) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2022 |
Additions |
Revaluations | 32,181 |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Investment property situated at 31 Railway Terrace, Treorchy CF42 6LW is under a charge from Aldermore Bank PLC. The charge was created on 28 April 2021. |
Investment property situated at 9A Hurworth Street, Bishop Auckland, DL14 6HJ is under a charge from Fleet Mortgages Limited. The charge was created on 23 August 2021. |
Investment property situated at 19 Helena Terrace, Bishop Auckland, DL14 6BP is under a charge from Lendinvest Btl Limited. The charge was created on 27 August 2021. |
Investment property situated at 33 Beaumont Street, Bishop Auckland, Durham, DL14 6BJ is under a charge from Nottingham Building Society. The charge was created on 07 July 2022. |
Fair value at 30 April 2023 is represented by: |
£ |
Valuation in 2021 | 10,587 |
Valuation in 2022 | 21,486 |
Valuation in 2023 | 32,181 |
Cost | 340,746 |
405,000 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other creditors |
Space For Space Ltd (Registered number: 11935480) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 216,702 | 164,200 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.23 | 30.4.22 |
£ | £ |
Bank loans |
The loan amounting to £53,288 is secured by the way of charge on the property situated at 31 Railway Terrace, Treorchy CF42 6LW (Disclosed as investment property). The charge was created in the name of Aldermore Bank PLC on 28 April 2021. |
The loan amounting to £46,214 is secured by the way of charge on the property situated at 9A Hurworth Street, Bishop Auckland, DL14 6HJ (Disclosed as investment property). The charge was created in the name of Fleet Mortgages Limited on 23 August 2021. |
The loan amounting to £64,698 is secured by the way of charge on the property situated at 19 Helena Terrace, Bishop Auckland, DL14 6BP (Disclosed as investment property). The charge was created in the name of Lendinvest Btl Limited on 27 August 2021. |
The loan amounting to £52,502 is secured by the way of charge on the property situated at 33 Beaumont Street, Bishop Auckland, Durham, DL14 6BJ (Disclosed as investment property). The charge was created in the name of Nottingham Building Society on 07 July 2022. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.23 | 30.4.22 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
Space For Space Ltd (Registered number: 11935480) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 May 2022 |
Transfers to/from reserves | 28,507 |
At 30 April 2023 |
11. | RELATED PARTY DISCLOSURES |
The company owes £45,197 to its director, Mr Simon Richard Jeffery who is also a sole shareholder of the company as at accounting year end date. |