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Registration number: 13329026

Spare Desk Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

Spare Desk Limited

Contents

Director's Report

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Spare Desk Limited

Director's Report for the Year Ended 30 April 2023

The director presents her report and the financial statements for the year ended 30 April 2023.

Director of the company

The director who held office during the year was as follows:

Miss Andrea Szell

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 January 2024
 

.........................................
Miss Andrea Szell
Director

 

Spare Desk Limited

(Registration number: 13329026)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

200,044

113,989

Tangible assets

6

1,536

526

 

201,580

114,515

Current assets

 

Debtors

7

30,816

3,818

Cash at bank and in hand

 

283

15,271

 

31,099

19,089

Creditors: Amounts falling due within one year

8

(61,047)

(56,610)

Net current liabilities

 

(29,948)

(37,521)

Total assets less current liabilities

 

171,632

76,994

Creditors: Amounts falling due after more than one year

8

(100,000)

(100,000)

Provisions for liabilities

(41,743)

-

Net assets/(liabilities)

 

29,889

(23,006)

Capital and reserves

 

Called up share capital

13

10

Share premium reserve

142,722

-

Revaluation reserve

(41,743)

-

Retained earnings

(71,103)

(23,016)

Shareholders' funds/(deficit)

 

29,889

(23,006)

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 January 2024
 

 

Spare Desk Limited

(Registration number: 13329026)
Balance Sheet as at 30 April 2023 (continued)

.........................................
Miss Andrea Szell
Director

 

Spare Desk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
43 St. Mary's Road
Portishead
Bristol
BS20 6QS

These financial statements were authorised for issue by the director on 31 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Spare Desk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

2

Accounting policies (continued)

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Spare Desk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

15,159

5,167

 

Spare Desk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

5

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 May 2022

119,000

119,000

Additions internally developed

100,702

100,702

At 30 April 2023

219,702

219,702

Amortisation

At 1 May 2022

5,011

5,011

Amortisation charge

14,647

14,647

At 30 April 2023

19,658

19,658

Carrying amount

At 30 April 2023

200,044

200,044

At 30 April 2022

113,989

113,989

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

682

682

Additions

1,523

1,523

At 30 April 2023

2,205

2,205

Depreciation

At 1 May 2022

156

156

Charge for the year

513

513

At 30 April 2023

669

669

Carrying amount

At 30 April 2023

1,536

1,536

At 30 April 2022

526

526

 

Spare Desk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

7

Debtors

Current

2023
£

2022
£

Prepayments

244

185

Other debtors

30,572

3,633

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

26,460

26,460

Accruals and deferred income

750

650

Other creditors

33,837

29,500

61,047

56,610

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

100,000

100,000

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(41,743)

(41,743)

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

100,000

100,000

 

Spare Desk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

10

Loans and borrowings (continued)