2023-04-012024-03-312024-03-31false06019321INNERSPACE (CHESHIRE) LIMITED2024-08-14iso4217:GBPxbrli:pure060193212023-04-01060193212024-03-31060193212023-04-012024-03-31060193212022-04-01060193212023-03-31060193212022-04-012023-03-3106019321bus:SmallEntities2023-04-012024-03-3106019321bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3106019321bus:FullAccounts2023-04-012024-03-3106019321bus:PrivateLimitedCompanyLtd2023-04-012024-03-3106019321core:WithinOneYear2024-03-3106019321core:AfterOneYear2024-03-3106019321core:WithinOneYear2023-03-3106019321core:AfterOneYear2023-03-3106019321core:ShareCapital2024-03-3106019321core:SharePremium2024-03-3106019321core:RevaluationReserve2024-03-3106019321core:OtherReservesSubtotal2024-03-3106019321core:RetainedEarningsAccumulatedLosses2024-03-3106019321core:ShareCapital2023-03-3106019321core:SharePremium2023-03-3106019321core:RevaluationReserve2023-03-3106019321core:OtherReservesSubtotal2023-03-3106019321core:RetainedEarningsAccumulatedLosses2023-03-3106019321core:LandBuildings2024-03-3106019321core:PlantMachinery2024-03-3106019321core:Vehicles2024-03-3106019321core:FurnitureFittings2024-03-3106019321core:OfficeEquipment2024-03-3106019321core:NetGoodwill2024-03-3106019321core:IntangibleAssetsOtherThanGoodwill2024-03-3106019321core:ListedExchangeTraded2024-03-3106019321core:UnlistedNon-exchangeTraded2024-03-3106019321core:LandBuildings2023-03-3106019321core:PlantMachinery2023-03-3106019321core:Vehicles2023-03-3106019321core:FurnitureFittings2023-03-3106019321core:OfficeEquipment2023-03-3106019321core:NetGoodwill2023-03-3106019321core:IntangibleAssetsOtherThanGoodwill2023-03-3106019321core:ListedExchangeTraded2023-03-3106019321core:UnlistedNon-exchangeTraded2023-03-3106019321core:LandBuildings2023-04-012024-03-3106019321core:PlantMachinery2023-04-012024-03-3106019321core:Vehicles2023-04-012024-03-3106019321core:FurnitureFittings2023-04-012024-03-3106019321core:OfficeEquipment2023-04-012024-03-3106019321core:NetGoodwill2023-04-012024-03-3106019321core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3106019321core:ListedExchangeTraded2023-04-012024-03-3106019321core:UnlistedNon-exchangeTraded2023-04-012024-03-3106019321core:MoreThanFiveYears2023-04-012024-03-3106019321core:Non-currentFinancialInstruments2024-03-3106019321core:Non-currentFinancialInstruments2023-03-3106019321dpl:CostSales2023-04-012024-03-3106019321dpl:DistributionCosts2023-04-012024-03-3106019321core:LandBuildings2023-04-012024-03-3106019321core:PlantMachinery2023-04-012024-03-3106019321core:Vehicles2023-04-012024-03-3106019321core:FurnitureFittings2023-04-012024-03-3106019321core:OfficeEquipment2023-04-012024-03-3106019321dpl:AdministrativeExpenses2023-04-012024-03-3106019321core:NetGoodwill2023-04-012024-03-3106019321core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3106019321dpl:GroupUndertakings2023-04-012024-03-3106019321dpl:ParticipatingInterests2023-04-012024-03-3106019321dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3106019321core:ListedExchangeTraded2023-04-012024-03-3106019321dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3106019321core:UnlistedNon-exchangeTraded2023-04-012024-03-3106019321dpl:CostSales2022-04-012023-03-3106019321dpl:DistributionCosts2022-04-012023-03-3106019321core:LandBuildings2022-04-012023-03-3106019321core:PlantMachinery2022-04-012023-03-3106019321core:Vehicles2022-04-012023-03-3106019321core:FurnitureFittings2022-04-012023-03-3106019321core:OfficeEquipment2022-04-012023-03-3106019321dpl:AdministrativeExpenses2022-04-012023-03-3106019321core:NetGoodwill2022-04-012023-03-3106019321core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106019321dpl:GroupUndertakings2022-04-012023-03-3106019321dpl:ParticipatingInterests2022-04-012023-03-3106019321dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3106019321core:ListedExchangeTraded2022-04-012023-03-3106019321dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3106019321core:UnlistedNon-exchangeTraded2022-04-012023-03-3106019321core:NetGoodwill2024-03-3106019321core:IntangibleAssetsOtherThanGoodwill2024-03-3106019321core:LandBuildings2024-03-3106019321core:PlantMachinery2024-03-3106019321core:Vehicles2024-03-3106019321core:FurnitureFittings2024-03-3106019321core:OfficeEquipment2024-03-3106019321core:AfterOneYear2024-03-3106019321core:WithinOneYear2024-03-3106019321core:ListedExchangeTraded2024-03-3106019321core:UnlistedNon-exchangeTraded2024-03-3106019321core:ShareCapital2024-03-3106019321core:SharePremium2024-03-3106019321core:RevaluationReserve2024-03-3106019321core:OtherReservesSubtotal2024-03-3106019321core:RetainedEarningsAccumulatedLosses2024-03-3106019321core:NetGoodwill2023-03-3106019321core:IntangibleAssetsOtherThanGoodwill2023-03-3106019321core:LandBuildings2023-03-3106019321core:PlantMachinery2023-03-3106019321core:Vehicles2023-03-3106019321core:FurnitureFittings2023-03-3106019321core:OfficeEquipment2023-03-3106019321core:AfterOneYear2023-03-3106019321core:WithinOneYear2023-03-3106019321core:ListedExch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INNERSPACE (CHESHIRE) LIMITED

Registered Number
06019321
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

INNERSPACE (CHESHIRE) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

LAMB, Ian David
RUSSELL, Richard James

Company Secretary

LAMB, Ian David

Registered Address

Unit 11 Mullbry Business Park
Shakespeare Way
Whitchurch
SY13 1LJ

Registered Number

06019321 (England and Wales)
INNERSPACE (CHESHIRE) LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3568,998561,231
Investment property4600,000500,000
1,168,9981,061,231
Current assets
Stocks5137,483157,250
Debtors335,831313,801
Cash at bank and on hand885,312651,323
1,358,6261,122,374
Creditors amounts falling due within one year6(229,834)(270,434)
Net current assets (liabilities)1,128,792851,940
Total assets less current liabilities2,297,7901,913,171
Creditors amounts falling due after one year7(286,753)(312,867)
Provisions for liabilities8(90,207)(52,385)
Net assets1,920,8301,547,919
Capital and reserves
Called up share capital22
Profit and loss account1,920,8281,547,917
Shareholders' funds1,920,8301,547,919
The financial statements were approved and authorised for issue by the Board of Directors on 14 August 2024, and are signed on its behalf by:
LAMB, Ian David
Director
RUSSELL, Richard James
Director

Registered Company No. 06019321
INNERSPACE (CHESHIRE) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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)
Land and buildings-5
Plant and machinery20-
Vehicles20-
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year2019
3.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 23475,491106,15410,05841,751633,454
Additions-22,747-18,55041,297
Disposals-(23,910)--(23,910)
At 31 March 24475,491104,99110,05860,301650,841
Depreciation and impairment
At 01 April 23-39,4511,50931,26372,223
Charge for year-13,7705035,80820,081
On disposals-(10,461)--(10,461)
At 31 March 24-42,7602,01237,07181,843
Net book value
At 31 March 24475,49162,2318,04623,230568,998
At 31 March 23475,49166,7038,54910,488561,231
4.Investment property

£
Fair value at 01 April 23500,000
Fair value adjustments100,000
At 31 March 24600,000
5.Stocks

2024

2023

££
Raw materials and consumables137,483157,250
Total137,483157,250
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables53,09615,624
Bank borrowings and overdrafts25,17519,675
Taxation and social security130,537173,387
Finance lease and HP contracts6,5438,043
Other creditors12,66011,329
Accrued liabilities and deferred income1,82342,376
Total229,834270,434
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts286,753312,867
Total286,753312,867
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)90,20752,385
Total90,20752,385
9.Related party transactions
There is a loan owing to Innerspace (Cheshire) Limited of £63,893 (£42,678- 2023) from Innerspace Properties Limited at 31 March 2024.