Company registration number 12024361 (England and Wales)
SPACE EXECUTIVE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SPACE EXECUTIVE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SPACE EXECUTIVE LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
31,833
65,685
Current assets
Debtors
4
248,528
230,786
Cash at bank and in hand
18,885
19,099
267,413
249,885
Creditors: amounts falling due within one year
5
(1,605,564)
(947,235)
Net current liabilities
(1,338,151)
(697,350)
Total assets less current liabilities
(1,306,318)
(631,665)
Creditors: amounts falling due after more than one year
6
(141,241)
(101,268)
Net liabilities
(1,447,559)
(732,933)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(1,447,659)
(733,033)
Total equity
(1,447,559)
(732,933)

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 15 November 2024
M J Danyluk
Director
Company registration number 12024361 (England and Wales)
SPACE EXECUTIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Space Executive Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 8 Devonshire Square, London, EC2M 4YJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements contain information about Space Executive Limited as an individual company and do not contain consolidated financial information as the parent of the group. The company is exempt under Section 399 (2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

1.2
Going concern

The accounts are prepared on the going concern basis on the assumption that the company's creditors, in particular related parties, continue to provide financial support to the company.true

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.4
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and equipment
50% on cost
Computers
50% on cost
Motor vehicles
25% on cost
1.5
Taxation

Taxation for the year compromises of current and deferred tax. Tax is recognised in the Income Statement, except the extent that it relates to the items recognised in other comprehensive income or directly in equity.

Current tax

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.

SPACE EXECUTIVE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
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.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
15
15
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
157,254
Additions
3,817
At 31 March 2024
161,071
Depreciation and impairment
At 1 April 2023
91,569
Depreciation charged in the year
37,669
At 31 March 2024
129,238
Carrying amount
At 31 March 2024
31,833
At 31 March 2023
65,685
SPACE EXECUTIVE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
194,446
137,507
Amounts owed by group undertakings
4,307
51,906
Other debtors
49,775
41,373
248,528
230,786
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
91,525
28,068
Amounts owed to group undertakings
999,532
722,572
Taxation and social security
213,030
82,809
Other creditors
291,477
103,786
1,605,564
947,235
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,667
26,667
Other creditors
124,574
74,601
141,241
101,268
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Directors' transactions
Description
Opening balance
Amounts repaid
Closing balance
£
£
£
Loan advanced
15,000
(15,000)
-
15,000
(15,000)
-
SPACE EXECUTIVE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
9
Ultimate parent comapny

The ultimate parent company is Space Executive Holdings Limited, a company incorporated in England. It's registered office is 88 Hill Village Road, Sutton Coldfield, West Midlands, B75 5BE.

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