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REGISTERED NUMBER: 06183167 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SPACE2THINK LTD

SPACE2THINK LTD (REGISTERED NUMBER: 06183167)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPACE2THINK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R L Husband





REGISTERED OFFICE: C/O Merlin Accountancy Services Ltd
33 Longrbook Street
Exeter
Devon
EX4 6AW





REGISTERED NUMBER: 06183167 (England and Wales)





ACCOUNTANTS: Merlin Accountancy Services Ltd
2nd Floor
33 Longbrook Street
Exeter
Devon
EX4 6AW

SPACE2THINK LTD (REGISTERED NUMBER: 06183167)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,619 4,657

CURRENT ASSETS
Debtors 5 13,461 2,138
Cash at bank 15,986 26,059
29,447 28,197
CREDITORS
Amounts falling due within one year 6 13,034 27,956
NET CURRENT ASSETS 16,413 241
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,032

4,898

PROVISIONS FOR LIABILITIES 7 688 885
NET ASSETS 19,344 4,013

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 19,224 3,893
11 19,344 4,013

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

SPACE2THINK LTD (REGISTERED NUMBER: 06183167)

BALANCE SHEET - continued
31 MARCH 2024


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 18 October 2024 and were signed by:





R L Husband - Director


SPACE2THINK LTD (REGISTERED NUMBER: 06183167)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Space2Think 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.

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.

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.

SPACE2THINK LTD (REGISTERED NUMBER: 06183167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 5,779 1,259 11,347 18,385
DEPRECIATION
At 1 April 2023 3,236 551 9,941 13,728
Charge for year 509 177 352 1,038
At 31 March 2024 3,745 728 10,293 14,766
NET BOOK VALUE
At 31 March 2024 2,034 531 1,054 3,619
At 31 March 2023 2,543 708 1,406 4,657

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade debtors 2,982 2,000
Other debtors 10,479 138
13,461 2,138

SPACE2THINK LTD (REGISTERED NUMBER: 06183167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,718 2,145
Taxation and social security 9,090 7,479
Other creditors 1,226 18,332
13,034 27,956

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 688 885

Deferred
tax
£   
Balance at 1 April 2023 885
Credit to Income Statement during year (197 )
Balance at 31 March 2024 688

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
R L Husband
Balance outstanding at start of year - -
Amounts advanced 10,321 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,321 -

During the year a loan was made to R Husband, the director. No interest is charged on this loan and there are no terms for repayment.

SPACE2THINK LTD (REGISTERED NUMBER: 06183167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £3,840 (2023 - £23,450) were paid to the director .

10. ULTIMATE CONTROLLING PARTY

The controlling party is R L Husband.

11. RECONCILIATION OF MOVEMENTS IN RESERVES
2024 2023
£    £   
Profit for the financial year 19,171 25,894
Dividends (3,840 ) (23,450 )
Opening share capital
Net addition to reserves 15,331 2,444
Opening reserves 4,013 1,569
Closing reserves 19,344 4,013