1 27/04/2023 30/04/2024 2024-04-30 false false false false false false false true false false true false false false true false true false No description of principal activities is disclosed 2023-04-27 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC767462 2023-04-27 2024-04-30 SC767462 2024-04-30 SC767462 2023-04-26 SC767462 bus:Director1 2023-04-27 2024-04-30 SC767462 core:FurnitureFittingsToolsEquipment 2024-04-30 SC767462 core:ShareCapital 2023-04-27 2024-04-30 SC767462 core:RetainedEarningsAccumulatedLosses 2023-04-27 2024-04-30 SC767462 core:WithinOneYear 2024-04-30 SC767462 core:ShareCapital 2024-04-30 SC767462 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC767462 core:PreviouslyStatedAmount core:ShareCapital 2024-04-30 SC767462 core:FurnitureFittingsToolsEquipment 2023-04-27 2024-04-30 SC767462 bus:SmallEntities 2023-04-27 2024-04-30 SC767462 bus:AuditExempt-NoAccountantsReport 2023-04-27 2024-04-30 SC767462 bus:SmallCompaniesRegimeForAccounts 2023-04-27 2024-04-30 SC767462 bus:PrivateLimitedCompanyLtd 2023-04-27 2024-04-30 SC767462 bus:FullAccounts 2023-04-27 2024-04-30
Company registration number: SC767462
Presentation Spaces Limited
Unaudited filleted financial statements
30 April 2024
Presentation Spaces Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Presentation Spaces Limited
Statement of financial position
30 April 2024
30/04/24
Note £ £
Fixed assets
Tangible assets 5 1,266
_______
1,266
Current assets
Stocks 1,200
Debtors 6 6,869
Cash at bank and in hand 235
_______
8,304
Creditors: amounts falling due
within one year 7 ( 6,529)
_______
Net current assets 1,775
_______
Total assets less current liabilities 3,041
_______
Net assets 3,041
_______
Capital and reserves
Called up share capital 100
Profit and loss account 2,941
_______
Shareholders funds 3,041
_______
For the period ending 30 April 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 January 2024 , and are signed on behalf of the board by:
J Sutcliffe
Director
Company registration number: SC767462
Presentation Spaces Limited
Statement of changes in equity
Period ended 30 April 2024
Called up share capital Profit and loss account Total
£ £ £
At 27 April 2023 - - -
Profit for the period 3,941 3,941
_______ _______ _______
Total comprehensive income for the period - 3,941 3,941
Issue of shares 100 100
Dividends paid and payable ( 1,000) ( 1,000)
_______ _______ _______
Total investments by and distributions to owners 100 ( 1,000) ( 900)
_______ _______ _______
At 30 April 2024 100 2,941 3,041
_______ _______ _______
Presentation Spaces Limited
Notes to the financial statements
Period ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Woodside Cottage, Mains of Guthrie, Forfar, Angus, Scotland, DD8 2TR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 27 April 2023 - -
Additions 1,369 1,369
_______ _______
At 30 April 2024 1,369 1,369
_______ _______
Depreciation
At 27 April 2023 - -
Charge for the year 103 103
_______ _______
At 30 April 2024 103 103
_______ _______
Carrying amount
At 30 April 2024 1,266 1,266
_______ _______
6. Debtors
30/04/24
£
Trade debtors 6,373
Other debtors 496
_______
6,869
_______
7. Creditors: amounts falling due within one year
30/04/24
£
Trade creditors 2,280
Corporation tax 627
Other creditors 3,622
_______
6,529
_______