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Registration number: 03035200

Space Group UK Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Space Group UK Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Space Group UK Ltd

(Registration number: 03035200)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,888

2,517

Investments

5

100

100

 

1,988

2,617

Current assets

 

Debtors

6

6,277

124,778

Cash at bank and in hand

 

10,877

9,348

 

17,154

134,126

Creditors: Amounts falling due within one year

7

(2,451)

(2,447)

Net current assets

 

14,703

131,679

Net assets

 

16,691

134,296

Capital and reserves

 

Called up share capital

100

100

Retained earnings

16,591

134,196

Shareholders' funds

 

16,691

134,296

For the financial year ending 31 March 2024 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.

 

Space Group UK Ltd

(Registration number: 03035200)
Statement of Financial Position as at 31 March 2024

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 24 December 2024 and signed on its behalf by:
 

Mr E B Lee
Director

   
     
 

Space Group UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
Tyn Y Mynydd
Old Llanfair Road
Gwynedd
LL46 2SU
Wales

These financial statements were authorised for issue by the Board on 24 December 2024.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Space Group UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. the corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Space Group UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

33,445

33,445

At 31 March 2024

33,445

33,445

Depreciation

At 1 April 2023

30,928

30,928

Charge for the year

629

629

At 31 March 2024

31,557

31,557

Carrying amount

At 31 March 2024

1,888

1,888

At 31 March 2023

2,517

2,517

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 April 2023

100

Provision

Carrying amount

At 31 March 2024

100

At 31 March 2023

100

 

Space Group UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024






 

6

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings

4,777

117,223

Other debtors

 

1,500

7,555

 

6,277

124,778

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,205

1,200

Other creditors

1,246

1,247

2,451

2,447