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COMPANY REGISTRATION NUMBER: 14089531
CONQUEST SPACES LIMITED
Filleted Unaudited Financial Statements
31 May 2024
CONQUEST SPACES LIMITED
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
4
2,000
Tangible assets
5
125,384
---------
----
127,384
Current assets
Stocks
500
Debtors
6
11,076
100
Cash at bank and in hand
10,954
250
--------
----
22,530
350
Creditors: amounts falling due within one year
7
87,237
781
--------
----
Net current liabilities
64,707
431
---------
----
Total assets less current liabilities
62,677
( 431)
Creditors: amounts falling due after more than one year
8
44,797
--------
----
Net assets/(liabilities)
17,880
( 431)
--------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
17,780
( 531)
--------
----
Shareholders funds/(deficit)
17,880
( 431)
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CONQUEST SPACES LIMITED
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
R.D. Conquest
Director
Company registration number: 14089531
CONQUEST SPACES LIMITED
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kingfisher House, Hursrtwood Grange, Hurstwood Lne, Hywards Heath, West Sussex, RH17 7QX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
3.1 Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
3.2 Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
3.3 Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
3.4 Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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
3.5 Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
3.6 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10 Years
Motor vehicles
-
5 Years
Equipment
-
5 Years
3.7 Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
3.8 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Intangible assets
Goodwill
£
Cost
Additions
Acquisitions through business combinations
2,000
-------
At 31 May 2024
2,000
-------
Amortisation
At 1 June 2023 and 31 May 2024
-------
Carrying amount
At 31 May 2024
2,000
-------
At 31 May 2023
-------
5. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 June 2023
Additions
9,749
78,660
30,888
11,557
130,854
-------
--------
--------
--------
---------
At 31 May 2024
9,749
78,660
30,888
11,557
130,854
-------
--------
--------
--------
---------
Depreciation
At 1 June 2023
Charge for the year
102
1,872
2,890
606
5,470
-------
--------
--------
--------
---------
At 31 May 2024
102
1,872
2,890
606
5,470
-------
--------
--------
--------
---------
Carrying amount
At 31 May 2024
9,647
76,788
27,998
10,951
125,384
-------
--------
--------
--------
---------
At 31 May 2023
-------
--------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
11,076
Other debtors
100
--------
----
11,076
100
--------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,286
331
Amounts owed to group undertakings and undertakings in which the company has a participating interest
5,466
Corporation tax
11,978
Social security and other taxes
26,499
Other creditors
38,008
450
--------
----
87,237
781
--------
----
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
44,797
--------
----
9. Director's advances, credits and guarantees
No transactions with directors were undertaken such as are required to be discolsed under FRS 102 Section 1A.