2023-01-012023-12-312023-12-31false11117587Extra Space Developments 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Extra Space Developments Limited

Registered Number
11117587
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Extra Space Developments Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Marritt, Shane James Patrick
Pitts, Niki

Registered Address

12 Springfield Road
Boroughbridge
Y051 9AZ

Registered Number

11117587 (England and Wales)
Extra Space Developments Limited
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets38,16010,017
8,16010,017
Current assets
Debtors16,4498,856
Cash at bank and on hand149,122135,788
165,571144,644
Creditors amounts falling due within one year5(154,992)(148,266)
Net current assets (liabilities)10,579(3,622)
Total assets less current liabilities18,7396,395
Provisions for liabilities(1,550)-
Accruals and deferred income(1,341)(1,240)
Net assets15,8485,155
Capital and reserves
Called up share capital22
Profit and loss account15,8465,153
Shareholders' funds15,8485,155
The financial statements were approved and authorised for issue by the Board of Directors on 2 February 2024, and are signed on its behalf by:
Marritt, Shane James Patrick
Director
Registered Company No. 11117587
Extra Space Developments Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles25-
Office Equipment-5
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 2328,646
Additions863
At 31 December 2329,509
Depreciation and impairment
At 01 January 2318,629
Charge for year2,720
At 31 December 2321,349
Net book value
At 31 December 238,160
At 31 December 2210,017
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables5,0381,909
Other debtors10,2082,155
Prepayments and accrued income1,2034,178
Deferred tax asset, debtors-614
Total16,4498,856
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables65,59262,867
Bank borrowings and overdrafts-32,859
Taxation and social security57,08616,925
Other creditors32,31435,615
Total154,992148,266
6.Related party transactions
At the balance sheet date, the company owed £30,638 (2022 - £35,615) to members of key management personnel. The loan in unsecured, interest free and repayable on demand. The loan is presented within creditors due within one year.