IRIS Accounts Production v24.2.0.383 03716191 director 1.12.22 30.11.23 30.11.23 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037161912022-11-30037161912023-11-30037161912022-12-012023-11-30037161912021-11-30037161912021-12-012022-11-30037161912022-11-3003716191ns15:EnglandWales2022-12-012023-11-3003716191ns14:PoundSterling2022-12-012023-11-3003716191ns10:Director12022-12-012023-11-3003716191ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3003716191ns10:SmallEntities2022-12-012023-11-3003716191ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3003716191ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3003716191ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3003716191ns10:FullAccounts2022-12-012023-11-3003716191ns10:OrdinaryShareClass12022-12-012023-11-3003716191ns10:CompanySecretary12022-12-012023-11-3003716191ns10:RegisteredOffice2022-12-012023-11-3003716191ns5:CurrentFinancialInstruments2023-11-3003716191ns5:CurrentFinancialInstruments2022-11-3003716191ns5:ShareCapital2023-11-3003716191ns5:ShareCapital2022-11-3003716191ns5:RetainedEarningsAccumulatedLosses2023-11-3003716191ns5:RetainedEarningsAccumulatedLosses2022-11-3003716191ns5:FurnitureFittings2022-12-012023-11-3003716191ns5:FurnitureFittings2022-11-3003716191ns5:FurnitureFittings2023-11-3003716191ns5:FurnitureFittings2022-11-3003716191ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3003716191ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3003716191ns10:OrdinaryShareClass12023-11-30
REGISTERED NUMBER: 03716191 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

BUSINESS SPACE LIMITED

BUSINESS SPACE LIMITED (REGISTERED NUMBER: 03716191)

Contents of the Financial Statements
for the year ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BUSINESS SPACE LIMITED

Company Information
for the year ended 30 November 2023







Director: A C F Nissen





Secretary: A C F Nissen





Registered office: 49 St James's Street
London
SW1A 1AH





Registered number: 03716191 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

BUSINESS SPACE LIMITED (REGISTERED NUMBER: 03716191)

Balance Sheet
30 November 2023

2023 2022
Notes £ £
Current assets
Debtors 5 477 26,146
Cash at bank 4,920 13,448
5,397 39,594
Creditors
Amounts falling due within one year 6 248,223 255,671
Net current liabilities (242,826 ) (216,077 )
Total assets less current liabilities (242,826 ) (216,077 )

Capital and reserves
Called up share capital 7 2 2
Retained earnings (242,828 ) (216,079 )
Shareholders' funds (242,826 ) (216,077 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 August 2024 and were signed by:





A C F Nissen - Director


BUSINESS SPACE LIMITED (REGISTERED NUMBER: 03716191)

Notes to the Financial Statements
for the year ended 30 November 2023


1. Statutory information

Business Space Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on a non going concern basis.

The Board reached a settlement with its major creditor in November 2020 where the company surrendered its leases together with the property therein and ceased to trade. It remains to collect certain payables and cover some outstanding debts but thereafter it will move towards dormancy.

The financial statements include any adjustments to the value of the balance sheet which results from this cessation of its main trade.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade and other debtors is carried out regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - Straight line over 5 years

All fixed assets are recorded at cost.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current tax.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

BUSINESS SPACE LIMITED (REGISTERED NUMBER: 03716191)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


4. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 December 2022
and 30 November 2023 109,671
Depreciation
At 1 December 2022
and 30 November 2023 109,671
Net book value
At 30 November 2023 -
At 30 November 2022 -

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors - 25,938
VAT 477 208
477 26,146

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 62,241 64,642
Amounts owed to group undertakings 165,982 171,029
Other creditors 20,000 20,000
248,223 255,671

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2

8. Ultimate parent company

The ultimate parent undertaking is Virtual Office Group Limited, a company incorporated in England and Wales.