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REGISTERED NUMBER: 08004590 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Taskspace Limited

Taskspace Limited (Registered number: 08004590)






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


Taskspace Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: C Magee





SECRETARY: Mrs R Magee





REGISTERED OFFICE: Infinity House
Commerce Way
Leighton Buzzard
LU7 4RW





REGISTERED NUMBER: 08004590 (England and Wales)





ACCOUNTANTS: Pace Accountants
Noble House
Eaton Road
Hemel Hempstead
Hertfordshire
HP2 7UB

Taskspace Limited (Registered number: 08004590)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 51,724 77,225
51,724 77,225

CURRENT ASSETS
Debtors 6 1,125,028 972,691
Cash at bank and in hand 2,980,694 3,183,527
4,105,722 4,156,218
CREDITORS
Amounts falling due within one year 7 1,356,562 1,744,009
NET CURRENT ASSETS 2,749,160 2,412,209
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,800,884

2,489,434

PROVISIONS FOR LIABILITIES 10,160 8,614
NET ASSETS 2,790,724 2,480,820

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,789,724 2,479,820
SHAREHOLDERS' FUNDS 2,790,724 2,480,820

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 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.

Taskspace Limited (Registered number: 08004590)

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 26 September 2024 and were signed by:





C Magee - Director


Taskspace Limited (Registered number: 08004590)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Taskspace 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

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.

Intellectual Property are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 25 (2022 - 22 ) .

Taskspace Limited (Registered number: 08004590)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 465,000 35,000 500,000
AMORTISATION
At 1 January 2023
and 31 December 2023 465,000 35,000 500,000
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 - 110,290 35,128 145,418
Additions 12,390 - 18,299 30,689
Disposals - (45,500 ) (2,562 ) (48,062 )
At 31 December 2023 12,390 64,790 50,865 128,045
DEPRECIATION
At 1 January 2023 - 50,626 17,567 68,193
Charge for year 3,098 6,384 11,411 20,893
Eliminated on disposal - (11,375 ) (1,390 ) (12,765 )
At 31 December 2023 3,098 45,635 27,588 76,321
NET BOOK VALUE
At 31 December 2023 9,292 19,155 23,277 51,724
At 31 December 2022 - 59,664 17,561 77,225

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 715,686 279,526
Other debtors 102,500 149
Loans 189,500 198,400
Prepayments and accrued income 117,342 494,616
1,125,028 972,691

Taskspace Limited (Registered number: 08004590)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 111,196 294,558
Social Security 88,128 78,792
Tax 216,456 96,064
VAT 202,644 268,651
Other creditors 565,333 713,612
Directors' current accounts 2,326 70,259
Accruals and deferred income 170,479 222,073
1,356,562 1,744,009

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 65,790 25,354
Between one and five years 1,191 5,710
66,981 31,064

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £Nil (2022 - £84,660) were paid to the director.

The aggregate balance of loans from the director outstanding at the year end amounted to £2,326 (2022: £70,260). Interest payable for the year amounted to £2,459 (2022: £2,481)..

The aggregate balance of loans from shareholders and other related parties outstanding at the year end amounted to £2,326 (2022: £70,260). Interest payable for the year amounted to £2,459 (2022: £2,481)

10. ULTIMATE CONTROLLING PARTY

The controlling party is Emerson Grant Holdings Ltd.