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REGISTERED NUMBER: 10757977 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FASTSPACE LIMITED

FASTSPACE LIMITED (REGISTERED NUMBER: 10757977)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FASTSPACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs G S Jones





REGISTERED OFFICE: 3 Archway
Manchester
M15 5QJ





REGISTERED NUMBER: 10757977 (England and Wales)





ACCOUNTANTS: Williams Denton Cyf
Chartered Certified Accountants
Glaslyn
Ffordd y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE

FASTSPACE LIMITED (REGISTERED NUMBER: 10757977)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,134 188,066

CURRENT ASSETS
Debtors 5 6,701,635 6,286,535
Cash at bank 14,123 8,022
6,715,758 6,294,557
CREDITORS
Amounts falling due within one year 6 96,722 152,288
NET CURRENT ASSETS 6,619,036 6,142,269
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,772,170

6,330,335

CREDITORS
Amounts falling due after more than one
year

7

(7,249,789

)

(6,566,131

)

PROVISIONS FOR LIABILITIES (29,095 ) (35,732 )
NET LIABILITIES (506,714 ) (271,528 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (506,716 ) (271,530 )
(506,714 ) (271,528 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

FASTSPACE LIMITED (REGISTERED NUMBER: 10757977)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 17 September 2024 and were signed by:





Mrs G S Jones - Director


FASTSPACE LIMITED (REGISTERED NUMBER: 10757977)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Fastspace 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 33% on cost, 10% on cost and at varying rates on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

FASTSPACE LIMITED (REGISTERED NUMBER: 10757977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 70,022 294,039 364,061
Additions - 1,049 1,049
At 31 December 2023 70,022 295,088 365,110
DEPRECIATION
At 1 January 2023 15,223 160,772 175,995
Charge for year 2,801 33,180 35,981
At 31 December 2023 18,024 193,952 211,976
NET BOOK VALUE
At 31 December 2023 51,998 101,136 153,134
At 31 December 2022 54,799 133,267 188,066

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors - 184
Other debtors 184,667 94,109
184,667 94,293

Amounts falling due after more than one year:
Amounts owed by associates 6,516,968 6,191,031
Other debtors - 1,211
6,516,968 6,192,242

Aggregate amounts 6,701,635 6,286,535

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,013 117,672
Taxation and social security 79,252 25,605
Other creditors 5,457 9,011
96,722 152,288

FASTSPACE LIMITED (REGISTERED NUMBER: 10757977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to associates 7,249,789 6,566,131

8. RELATED PARTY DISCLOSURES

Amounts due to related party entities totalled £7,249,789 as at 31st December 2023 (2022: £6,566,131).

Amounts due from related party entities totalled £6,516,968 as at 31st December 2023 (2022: £6,191,031).

Amounts due from directors was Nil as at 31st December 2023 (2022: £1,211).

Interest is charged at 2.5% on all related party balances.