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Registered Number: 04949500
England and Wales

 

 

 

SPACE DESIGNED SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Directors L V Page
E Braithwaite
Registered Number 04949500
Registered Office Linden Cottage
Milburn
Penrith
Cumbria
CA10 1TN
Accountants Shaun Brown Accountants Ltd
14A Hartness Road
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BD
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2,722    3,630 
2,722    3,630 
Current assets      
Debtors 4 25,901    29,353 
Cash at bank and in hand (6,181)   (3,078)
19,720    26,275 
Creditors: amount falling due within one year 5 (10,422)   (13,825)
Net current assets 9,298    12,450 
 
Total assets less current liabilities 12,020    16,080 
Creditors: amount falling due after more than one year 6 (10,202)   (13,808)
Provisions for liabilities 7 (517)   (690)
Net assets 1,301    1,582 
 

Capital and reserves
     
Called up share capital 8 1,000    1,000 
Profit and loss account 301    582 
Shareholders' funds 1,301    1,582 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 July 2024 and were signed on its behalf by:


-------------------------------
L V Page
Director
2
General Information
Space Designed Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 04949500, registration address Linden Cottage, Milburn, Penrith, Cumbria, CA10 1TN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 November 2022 9,588    24,303    33,891 
Additions    
Disposals    
At 31 October 2023 9,588    24,303    33,891 
Depreciation
At 01 November 2022 8,858    21,403    30,261 
Charge for year 183    725    908 
On disposals    
At 31 October 2023 9,041    22,128    31,169 
Net book values
Closing balance as at 31 October 2023 547    2,175    2,722 
Opening balance as at 01 November 2022 730    2,900    3,630 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 7,479    5,454 
Prepayments & Accrued Income 5,602    4,524 
Directors' Current Accounts 12,820    19,375 
25,901    29,353 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 9    4,499 
Corporation Tax 3,859    3,234 
PAYE & Social Security 756   
Accrued Expenses 1,220    1,160 
Customer Deposits 750    750 
VAT 3,828    4,182 
10,422    13,825 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 10,202    13,808 
10,202    13,808 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 517    690 
517    690 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

3