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Registration number: 13113737

Great Space Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Great Space Property Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Great Space Property Ltd

Company Information

Directors

Mr Lewis Jordan Brown

Mr Paul Whittington

Registered office

1st Floor, 2 North Street
Strood
Rochester
ME2 4SH

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Great Space Property Ltd

(Registration number: 13113737)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

122

14,595

Current assets

 

Debtors

6

3,411

14,634

Cash at bank and in hand

 

7,058

3,879

 

10,469

18,513

Creditors: Amounts falling due within one year

7

(60,410)

(59,280)

Net current liabilities

 

(49,941)

(40,767)

Net liabilities

 

(49,819)

(26,172)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(50,819)

(27,172)

Shareholders' deficit

 

(49,819)

(26,172)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 6 January 2025 and signed on its behalf by:
 

.........................................
Mr Lewis Jordan Brown
Director

.........................................
Mr Paul Whittington
Director

 

Great Space Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor, 2 North Street
Strood
Rochester
ME2 4SH

These financial statements were authorised for issue by the Board on 6 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Straight Line

Office Equipment

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Great Space Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

77

7,297

 

Great Space Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

29,191

29,191

Additions

451

451

Disposals

(29,333)

(29,333)

At 30 November 2023

309

309

Depreciation

At 1 December 2022

14,596

14,596

Charge for the year

77

77

Eliminated on disposal

(14,486)

(14,486)

At 30 November 2023

187

187

Carrying amount

At 30 November 2023

122

122

At 30 November 2022

14,595

14,595

6

Debtors

Current

2023
£

2022
£

Trade debtors

2,411

8,859

Other debtors

1,000

5,775

 

3,411

14,634

7

Creditors

Creditors: amounts falling due within one year

 

Great Space Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

7

Creditors (continued)

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

420

140

Amounts owed to group undertakings and undertakings in which the company has a participating interest

47,957

52,934

Accruals and deferred income

 

4,008

4,846

Other creditors

 

8,025

1,360

 

60,410

59,280