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Registered Number: 05038824
England and Wales

 

 

 

SPACE IMPACT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 06 April 2023

End date: 05 April 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,942    4,649 
3,942    4,649 
Current assets      
Debtors   522 
Cash at bank and in hand 1,637    1,420 
1,637    1,942 
Creditors: amount falling due within one year (3,216)   (623)
Net current assets (1,579)   1,319 
 
Total assets less current liabilities 2,363    5,968 
Net assets 2,363    5,968 
 

Capital and reserves
     
Called up share capital 4 1    1 
Profit and loss account 2,362    5,967 
Shareholders' funds 2,363    5,968 
 


For the year ended 05 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 03 January 2025 and were signed by:


-------------------------------
Anwar Ul Haq
Director
1
General Information
SPACE IMPACT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05038824, registration address 33 Sunnyside Road, Ilford, London, IG1 1HU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Improvements to property 15% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Improvements to property   Total
  £   £   £
At 06 April 2023 1,500    20,894    22,394 
Additions    
Disposals    
At 05 April 2024 1,500    20,894    22,394 
Depreciation
At 06 April 2023 1,398    16,346    17,744 
Charge for year 26    682    708 
On disposals    
At 05 April 2024 1,424    17,028    18,452 
Net book values
Closing balance as at 05 April 2024 76    3,866    3,942 
Opening balance as at 06 April 2023 102    4,547    4,649 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

2