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REGISTERED NUMBER: 09878907 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MY NEW SPACE LTD

MY NEW SPACE LTD (REGISTERED NUMBER: 09878907)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MY NEW SPACE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs S Patel
Mr N K Patel





REGISTERED OFFICE: 5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX





REGISTERED NUMBER: 09878907 (England and Wales)





ACCOUNTANTS: David Simon Limited
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

MY NEW SPACE LTD (REGISTERED NUMBER: 09878907)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,890 -
Investment property 6 1,000,000 1,000,000
1,001,890 1,000,000

CURRENT ASSETS
Debtors 7 3,537 3,596
Cash at bank 3,381 712
6,918 4,308
CREDITORS
Amounts falling due within one year 8 294,885 304,371
NET CURRENT LIABILITIES (287,967 ) (300,063 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

713,923

699,937

CREDITORS
Amounts falling due after more than one
year

9

(713,543

)

(708,689

)

PROVISIONS FOR LIABILITIES (20,474 ) (15,560 )
NET LIABILITIES (20,094 ) (24,312 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 97,271 102,185
Retained earnings (117,465 ) (126,597 )
SHAREHOLDERS' FUNDS (20,094 ) (24,312 )

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 directors acknowledge their 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.

MY NEW SPACE LTD (REGISTERED NUMBER: 09878907)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


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 Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




Mrs S Patel - Director



Mr N K Patel - Director


MY NEW SPACE LTD (REGISTERED NUMBER: 09878907)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

My New Space Ltd 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
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 rents receivable during the period. Rental income is recognised on the basis of
amounts due in the period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured
at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fee
Franchise fee, being the amount paid in the year to 01 November 2015, is being amortised evenly over
its estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost and 25% on cost

Investment property
Investment property is shown at most recent valuation. 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.

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.

Going concern
The company has the continued financial support of its directors, who have agreed not to request
repayment of their loan until the company has the funds available. The loan and mortgage are
repayable in years two to five and in more than five years, respectively, by which time it is anticipated
that the company will be in a position to make the repayments. On this basis the directors of My New
Space Limited consider it appropriate to prepare accounts on the going concern basis. The financial
statements do not include any adjustments that would result in the company suffering further trading
losses.

MY NEW SPACE LTD (REGISTERED NUMBER: 09878907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 27,600
AMORTISATION
At 1 December 2022
and 30 November 2023 27,600
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 19,700
Additions 2,835
At 30 November 2023 22,535
DEPRECIATION
At 1 December 2022 19,700
Charge for year 945
At 30 November 2023 20,645
NET BOOK VALUE
At 30 November 2023 1,890

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,000,000
NET BOOK VALUE
At 30 November 2023 1,000,000
At 30 November 2022 1,000,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2021 67,745
Valuation in 2022 50,000
Cost 882,255
1,000,000

MY NEW SPACE LTD (REGISTERED NUMBER: 09878907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. INVESTMENT PROPERTY - continued

Investment properties were valued on an open market basis on 30 November 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,537 3,596

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 294,885 304,371

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 713,543 708,689

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 713,543 708,689

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 713,543 708,689

The bank loans are secured by way of a fixed and floating charge over the fixed asset investment properties and includes a negative pledge.

11. RESERVES
Fair
value
reserve
£   
At 1 December 2022 102,185
Transfer (4,914 )

At 30 November 2023 97,271