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REGISTERED NUMBER: 13891211 (England and Wales)
















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Inaspace Rooms Ltd

Inaspace Rooms Ltd (Registered number: 13891211)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inaspace Rooms Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: C White





REGISTERED OFFICE: Unit 23
Greenfield
Royston
Hertfordshire
SG8 5HN





REGISTERED NUMBER: 13891211 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Inaspace Rooms Ltd (Registered number: 13891211)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,855 14,009

CURRENT ASSETS
Stocks 5 12,000 8,000
Debtors 6 17,455 58,039
Cash at bank 8,092 31,217
37,547 97,256
CREDITORS
Amounts falling due within one year 7 26,177 64,087
NET CURRENT ASSETS 11,370 33,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,225

47,178

CREDITORS
Amounts falling due after more than one
year

8

(78,181

)

(34,183

)

PROVISIONS FOR LIABILITIES (2,439 ) -
NET (LIABILITIES)/ASSETS (42,395 ) 12,995

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (42,396 ) 12,994
SHAREHOLDERS' FUNDS (42,395 ) 12,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Inaspace Rooms Ltd (Registered number: 13891211)

Balance Sheet - continued
29 February 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 19 November 2024 and were signed by:





C White - Director


Inaspace Rooms Ltd (Registered number: 13891211)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Inaspace Rooms 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 have been prepared on a going concern basis. The Director considers this basis to be appropriate despite the fact that the balance sheet shows net liabilities at 29 February 2024. The director and shareholder have confirmed their continued support for the 12 months from the balance sheet date.

Should the company be unable to continue trading, adjustments would have to be made to adjust the value of the assets to their recoverable amount and to provide for any further liabilities which might arise.

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.
Freehold property - 33% on reducing balance
Plant and machinery - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Inaspace Rooms Ltd (Registered number: 13891211)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction
costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at
transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is
measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Inaspace Rooms Ltd (Registered number: 13891211)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 18,000 - - - 18,000
Additions - 20,000 3,700 762 24,462
Disposals - - (3,700 ) - (3,700 )
At 29 February 2024 18,000 20,000 - 762 38,762
DEPRECIATION
At 1 March 2023 3,991 - - - 3,991
Charge for year 4,665 3,000 852 251 8,768
Eliminated on disposal - - (852 ) - (852 )
At 29 February 2024 8,656 3,000 - 251 11,907
NET BOOK VALUE
At 29 February 2024 9,344 17,000 - 511 26,855
At 28 February 2023 14,009 - - - 14,009

5. STOCKS
29.2.24 28.2.23
£    £   
Stocks 12,000 8,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 10,000 56,130
Other debtors 1 1
Tax 3,687 -
VAT 3,767 -
Deferred tax asset - 908
Prepayments - 1,000
17,455 58,039

Inaspace Rooms Ltd (Registered number: 13891211)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 7,077 5,355
Tax - 3,687
VAT - 3,953
Accruals and deferred income 19,100 51,092
26,177 64,087

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Amounts owed to related party 78,181 34,183

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1 Ordinary 1 1 1

10. PENSION COMMITMENTS

The pension cost charge represents contributions payable by the company to the fund and amounted to £109 (2023:£0) At the year end on 29 February 2024 there was a balance of £0 outstanding to be paid (2023: £0)