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REGISTERED NUMBER: 11935480 (England and Wales)















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 4 452 602
Investment property 5 405,000 297,884
405,452 298,486

CURRENT ASSETS
Cash at bank 9,837 36,690

CREDITORS
Amounts falling due within one year 6 178,873 178,095
NET CURRENT LIABILITIES (169,036 ) (141,405 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,416

157,081

CREDITORS
Amounts falling due after more than
one year

7

(216,702

)

(164,200

)

PROVISIONS FOR LIABILITIES (3,673 ) -
NET ASSETS/(LIABILITIES) 16,041 (7,119 )

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 1 1
Fair value reserve 10 60,580 32,073
Retained earnings (44,540 ) (39,193 )
SHAREHOLDERS' FUNDS 16,041 (7,119 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 21 March 2024 and were signed by:





Mr Simon Richard Jeffery - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11935480

Registered office: 3 Cape Yard
Wapping
London
E1W 3JU

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

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 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 May 2022
and 30 April 2023 1,070
DEPRECIATION
At 1 May 2022 468
Charge for year 150
At 30 April 2023 618
NET BOOK VALUE
At 30 April 2023 452
At 30 April 2022 602

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 297,884
Additions 74,935
Revaluations 32,181
At 30 April 2023 405,000
NET BOOK VALUE
At 30 April 2023 405,000
At 30 April 2022 297,884

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 178,873 178,095

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 216,702 164,200

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 216,702 164,200

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: £    £   
1 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 32,073
Transfers to/from reserves 28,507

At 30 April 2023 60,580

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.