Registered number
06307124
SPACE RUBBISH LIMITED
Filleted Abridged Accounts
30 November 2023
SPACE RUBBISH LIMITED
Registered number: 06307124
Abridged Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 959,497 663,884
Current assets
Debtors 24,613 21,966
Cash at bank and in hand 105,882 127,767
130,495 149,733
Creditors: amounts falling due within one year (239,553) (213,784)
Net current liabilities (109,058) (64,051)
Total assets less current liabilities 850,439 599,833
Creditors: amounts falling due after more than one year (786,114) (538,962)
Net assets 64,325 60,871
Capital and reserves
Called up share capital 100 100
Profit and loss account 64,225 60,771
Shareholders' funds 64,325 60,871
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Marek Basinski
Director
Approved by the board on 9 May 2024
SPACE RUBBISH LIMITED
Notes to the Abridged Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The abridged 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 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. 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 20
3 Tangible fixed assets
Total
£
Cost
At 1 December 2022 1,512,803
Additions 462,754
At 30 November 2023 1,975,557
Depreciation
At 1 December 2022 848,919
Charge for the year 167,141
At 30 November 2023 1,016,060
Net book value
At 30 November 2023 959,497
At 30 November 2022 663,884
4 Other information
SPACE RUBBISH LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Atlas Wharf
Atlas Road
London
NW10 6DN
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