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REGISTERED NUMBER: 11211307 (England and Wales)















BLACK SPACE TECHNOLOGY LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024






BLACK SPACE TECHNOLOGY LTD (REGISTERED NUMBER: 11211307)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLACK SPACE TECHNOLOGY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: D W Morgan





REGISTERED OFFICE: 10X Spacemade
10 Brindley Place
Birmingham
West Midlands
B1 2JB





REGISTERED NUMBER: 11211307 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

BLACK SPACE TECHNOLOGY LTD (REGISTERED NUMBER: 11211307)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 331,138 197,744
Tangible assets 5 7,851 2,429
338,989 200,173

CURRENT ASSETS
Debtors 6 100,923 36,792
Cash at bank 145 107,688
101,068 144,480
CREDITORS
Amounts falling due within one year 7 49,592 7,823
NET CURRENT ASSETS 51,476 136,657
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,465

336,830

CREDITORS
Amounts falling due after more than one
year

8

227,830

177,058
NET ASSETS 162,635 159,772

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 162,535 159,672
SHAREHOLDERS' FUNDS 162,635 159,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BLACK SPACE TECHNOLOGY LTD (REGISTERED NUMBER: 11211307)

BALANCE SHEET - continued
29 FEBRUARY 2024


The 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.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





D W Morgan - Director


BLACK SPACE TECHNOLOGY LTD (REGISTERED NUMBER: 11211307)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Black Space Technology Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discount and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of seven years.

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 machinery - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the grant conditions will be met and the grants will be received.


BLACK SPACE TECHNOLOGY LTD (REGISTERED NUMBER: 11211307)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

Research and development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023 245,453
Additions 196,224
At 29 February 2024 441,677
AMORTISATION
At 1 March 2023 47,709
Charge for year 62,830
At 29 February 2024 110,539
NET BOOK VALUE
At 29 February 2024 331,138
At 28 February 2023 197,744

BLACK SPACE TECHNOLOGY LTD (REGISTERED NUMBER: 11211307)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 March 2023 5,110 9,094 14,204
Additions - 9,250 9,250
At 29 February 2024 5,110 18,344 23,454
DEPRECIATION
At 1 March 2023 3,564 8,211 11,775
Charge for year 395 3,433 3,828
At 29 February 2024 3,959 11,644 15,603
NET BOOK VALUE
At 29 February 2024 1,151 6,700 7,851
At 28 February 2023 1,546 883 2,429

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 80,481 6,298
Other debtors 20,442 30,494
100,923 36,792

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 40,999 4,573
Other creditors 8,593 3,250
49,592 7,823

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 227,830 177,058

9. RELATED PARTY DISCLOSURES

Included within Other creditors falling due after more than one year is a balance of £195,453 (2023 - £154,453) due to a company director. Interest is accruing on the balance at 5% per annum, this is included in Other creditors falling due after more than one year £32,377 (2023 - £22,605).