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REGISTERED NUMBER: 14582565 (England and Wales)















Unaudited Financial Statements

for the Period 10 January 2023 to 31 January 2024

for

Specspace Ltd

Specspace Ltd (Registered number: 14582565)






Contents of the Financial Statements
for the Period 10 January 2023 to 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Specspace Ltd

Company Information
for the Period 10 January 2023 to 31 January 2024







DIRECTOR: S W Priest





REGISTERED OFFICE: C/O Concept Accountancy Services
89a Dudley Road
Halesowen
West Midlands
B63 3NS





REGISTERED NUMBER: 14582565 (England and Wales)





ACCOUNTANTS: Concept Accountancy Services Ltd
89a Dudley Road
Halesowen
West Midlands
B63 3NS

Specspace Ltd (Registered number: 14582565)

Balance Sheet
31 January 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 9,180

CURRENT ASSETS
Debtors 5 175
Cash at bank and in hand 163
338
CREDITORS
Amounts falling due within one year 6 12,085
NET CURRENT LIABILITIES (11,747 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,567

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (2,667 )
(2,567 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 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.

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 9 October 2024 and were signed by:





S W Priest - Director


Specspace Ltd (Registered number: 14582565)

Notes to the Financial Statements
for the Period 10 January 2023 to 31 January 2024

1. STATUTORY INFORMATION

Specspace 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary Amounts in these financial statements are rounded to the nearest £.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Website - 15% on cost

Taxation
Taxation for the period 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 period 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.

Specspace Ltd (Registered number: 14582565)

Notes to the Financial Statements - continued
for the Period 10 January 2023 to 31 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments & equity instruments
The company has elected to apply the provision of section 11 'Basic Financial Instruments' and Section 12 'Other financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Derecognition of financial assets:
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. TANGIBLE FIXED ASSETS
Website
£   
COST
Additions 10,800
At 31 January 2024 10,800
DEPRECIATION
Charge for period 1,620
At 31 January 2024 1,620
NET BOOK VALUE
At 31 January 2024 9,180

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 175

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 12,085

Specspace Ltd (Registered number: 14582565)

Notes to the Financial Statements - continued
for the Period 10 January 2023 to 31 January 2024

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S W Priest.