REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
SPACE AM LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
SPACE AM LIMITED |
SPACE AM LIMITED (REGISTERED NUMBER: 13317905) |
Contents of the Financial Statements |
for the year ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SPACE AM LIMITED |
Company Information |
for the year ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5, First Floor |
The Counting House |
Bonds Mill Estate |
Stonehouse |
Gloucestershire |
GL10 3RF |
SPACE AM LIMITED (REGISTERED NUMBER: 13317905) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
SPACE AM LIMITED (REGISTERED NUMBER: 13317905) |
Notes to the Financial Statements |
for the year ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Space Am Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
5. | FINANCIAL REVIEW |
In July 2022, SpaceAM and the LEVL probe designs were published in 'MDPI Aerospace' and peer-reviewed with the purpose of attaching the LEVL probe design to future Venus Life Finder missions and/or using it with gases and atmosphere particle detection here on Earth. |
While still in the business development phase, the directors would like it recorded that during 2022, 2023 and 2024, both Christopher Isaac and Nick Jones worked in excess 1,000 hours on the research and development of the LEVL probe and the business SpaceAM. |
The directors would like to acknowledge the contributions made by Exeter University in the UK for their additional support with the research and development of the flight characteristics model for the LEVL probe. |
At the time of publishing these accounts, neither of the directors has yet taken any remuneration from the business or from third parties for their work. As a result, both directors will look to be rewarded for the time spent thus far in the future of the business. |