2023-01-012023-12-312023-12-31false12261494Good Space QP Ltd2024-11-08iso4217:GBPxbrli:pure122614942023-01-01122614942023-12-31122614942023-01-012023-12-31122614942022-01-01122614942022-12-31122614942022-01-012022-12-3112261494bus:SmallEntities2023-01-012023-12-3112261494bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3112261494bus:AbridgedAccounts2023-01-012023-12-3112261494bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112261494core:WithinOneYear2023-12-3112261494core:AfterOneYear2023-12-3112261494core:WithinOneYear2022-12-3112261494core:AfterOneYear2022-12-3112261494core:ShareCapital2023-12-3112261494core:SharePremium2023-12-3112261494core:RevaluationReserve2023-12-3112261494core:OtherReservesSubtotal2023-12-3112261494core:RetainedEarningsAccumulatedLosses2023-12-3112261494core:ShareCapital2022-12-3112261494core:SharePremium2022-12-3112261494core:RevaluationReserve2022-12-3112261494core:OtherReservesSubtotal2022-12-3112261494core:RetainedEarningsAccumulatedLosses2022-12-3112261494core:LandBuildings2023-12-3112261494core:PlantMachinery2023-12-3112261494core:Vehicles2023-12-3112261494core:FurnitureFittings2023-12-3112261494core:OfficeEquipment2023-12-3112261494core:NetGoodwill2023-12-3112261494core:IntangibleAssetsOtherThanGoodwill2023-12-3112261494core:ListedExchangeTraded2023-12-3112261494core:UnlistedNon-exchangeTraded2023-12-3112261494core:LandBuildings2022-12-3112261494core:PlantMachinery2022-12-3112261494core:Vehicles2022-12-3112261494core:FurnitureFittings2022-12-3112261494core:OfficeEquipment2022-12-3112261494core:NetGoodwill2022-12-3112261494core:IntangibleAssetsOtherThanGoodwill2022-12-3112261494core:ListedExchangeTraded2022-12-3112261494core:UnlistedNon-exchangeTraded2022-12-3112261494core:LandBuildings2023-01-012023-12-3112261494core:PlantMachinery2023-01-012023-12-3112261494core:Vehicles2023-01-012023-12-3112261494core:FurnitureFittings2023-01-012023-12-3112261494core:OfficeEquipment2023-01-012023-12-3112261494core:NetGoodwill2023-01-012023-12-3112261494core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112261494core:ListedExchangeTraded2023-01-012023-12-3112261494core:UnlistedNon-exchangeTraded2023-01-012023-12-3112261494core:MoreThanFiveYears2023-01-012023-12-3112261494core:Non-currentFinancialInstruments2023-12-3112261494core:Non-currentFinancialInstruments2022-12-3112261494dpl:CostSales2023-01-012023-12-3112261494dpl:DistributionCosts2023-01-012023-12-3112261494core:LandBuildings2023-01-012023-12-3112261494core:PlantMachinery2023-01-012023-12-3112261494core:Vehicles2023-01-012023-12-3112261494core:FurnitureFittings2023-01-012023-12-3112261494core:OfficeEquipment2023-01-012023-12-3112261494dpl:AdministrativeExpenses2023-01-012023-12-3112261494core:NetGoodwill2023-01-012023-12-3112261494core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112261494dpl:GroupUndertakings2023-01-012023-12-3112261494dpl:ParticipatingInterests2023-01-012023-12-3112261494dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3112261494core:ListedExchangeTraded2023-01-012023-12-3112261494dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3112261494core:UnlistedNon-exchangeTraded2023-01-012023-12-3112261494dpl:CostSales2022-01-012022-12-3112261494dpl:DistributionCosts2022-01-012022-12-3112261494core:LandBuildings2022-01-012022-12-3112261494core:PlantMachinery2022-01-012022-12-3112261494core:Vehicles2022-01-012022-12-3112261494core:FurnitureFittings2022-01-012022-12-3112261494core:OfficeEquipment2022-01-012022-12-3112261494dpl:AdministrativeExpenses2022-01-012022-12-3112261494core:NetGoodwill2022-01-012022-12-3112261494core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3112261494dpl:GroupUndertakings2022-01-012022-12-3112261494dpl:ParticipatingInterests2022-01-012022-12-3112261494dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3112261494core:ListedExchangeTraded2022-01-012022-12-3112261494dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3112261494core:UnlistedNon-exchangeTraded2022-01-012022-12-3112261494core:NetGoodwill2023-12-3112261494core:IntangibleAssetsOtherThanGoodwill2023-12-3112261494core:LandBuildings2023-12-3112261494core:PlantMachinery2023-12-3112261494core:Vehicles2023-12-3112261494core:FurnitureFittings2023-12-3112261494core:OfficeEquipment2023-12-3112261494core:AfterOneYear2023-12-3112261494core:WithinOneYear2023-12-3112261494core:ListedExchangeTraded2023-12-3112261494core:UnlistedNon-exchangeTraded2023-12-3112261494core:ShareCapital2023-12-3112261494core:SharePremium2023-12-3112261494core:RevaluationReserve2023-12-3112261494core:OtherReservesSubtotal2023-12-3112261494core:RetainedEarningsAccumulatedLosses2023-12-3112261494core:NetGoodwill2022-12-3112261494core:IntangibleAssetsOtherThanGoodwill2022-12-3112261494core:LandBuildings2022-12-3112261494core:PlantMachinery2022-12-3112261494core:Vehicles2022-12-3112261494core:FurnitureFittings2022-12-3112261494core:OfficeEquipment2022-12-3112261494core:AfterOneYear2022-12-3112261494core:WithinOneYear2022-12-3112261494core:ListedExch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Good Space QP Ltd

Registered Number
12261494
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Good Space QP Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

David Lane Brown

Registered Address

4 Lonsdale Road
London
NW6 6RD

Registered Number

12261494 (England and Wales)
Good Space QP Ltd
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets352,14485,002
52,14485,002
Current assets
Debtors4242,255114,935
Cash at bank and on hand3,149828
245,404115,763
Creditors amounts falling due within one year5(1,080,199)(870,592)
Net current assets (liabilities)(834,795)(754,829)
Total assets less current liabilities(782,651)(669,827)
Creditors amounts falling due after one year(10,500)(16,500)
Net assets(793,151)(686,327)
Capital and reserves
Profit and loss account(793,151)(686,327)
Shareholders' funds(793,151)(686,327)
The financial statements were approved and authorised for issue by the Director on 8 November 2024, and are signed on its behalf by:
David Lane Brown
Director
Registered Company No. 12261494
Good Space QP Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The company receives ongoing financial support from the parent company, Good Space UK LLC. As such the going concern basis of accounting is adopted in preparing these financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20232022
Average number of employees during the year145
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 23199,336
Additions10,600
At 31 December 23209,936
Depreciation and impairment
At 01 January 23114,334
Charge for year43,458
At 31 December 23157,792
Net book value
At 31 December 2352,144
At 31 December 2285,002
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables1,10210,594
Amounts owed by group undertakings130,04643,957
Other debtors109,44760,287
Prepayments and accrued income1,66097
Total242,255114,935
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables15,08013,866
Bank borrowings and overdrafts18,5916,000
Amounts owed to related parties924,913803,187
Taxation and social security114,79440,297
Other creditors6,8217,242
Total1,080,199870,592
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
David Lane Brown28750,82815,18735,928
28750,82815,18735,928
The Directors' loan balance is interest-bearing and repayable on demand.
7.Related party transactions
The company has received an interest-free loan from its parent company worth £924,914 (2022: £803,187).
8.Controlling party
The ultimate controlling party is Good Space UK LLC, registered in the United States of America.
9.Further information regarding the company's financial position
As at 31-12-2022 Good Space QP Ltd has unrelieved corporation tax losses of £743,922.