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Company No: 06752131 (England and Wales)

BLISS SPACE LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BLISS SPACE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BLISS SPACE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
BLISS SPACE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,785 2,385
Investments 4 0 30
2,785 2,415
Current assets
Debtors 5 14,774 20,336
Cash at bank and in hand 44,020 63,720
58,794 84,056
Creditors: amounts falling due within one year 6 ( 2,365) ( 3,032)
Net current assets 56,429 81,024
Total assets less current liabilities 59,214 83,439
Net assets 59,214 83,439
Capital and reserves
Called-up share capital 100 100
Profit and loss account 59,114 83,339
Total shareholder's funds 59,214 83,439

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Bliss Space Limited (registered number: 06752131) were approved and authorised for issue by the Director. They were signed on its behalf by:

Daniel Broch
Director

10 April 2025

BLISS SPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BLISS SPACE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bliss Space Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 80 Grove Lane, Holt, NR25 6ED, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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 discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 3,531 3,531
Additions 1,177 1,177
At 31 December 2024 4,708 4,708
Accumulated depreciation
At 01 January 2024 1,146 1,146
Charge for the financial year 777 777
At 31 December 2024 1,923 1,923
Net book value
At 31 December 2024 2,785 2,785
At 31 December 2023 2,385 2,385

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 30 30
Disposals ( 30) ( 30)
At 31 December 2024 0 0
Carrying value at 31 December 2024 0 0
Carrying value at 31 December 2023 30 30

5. Debtors

2024 2023
£ £
Trade debtors 1,200 3,600
Amounts owed by director 36 36
Prepayments 4,682 8,958
Deferred tax asset 8,856 7,742
14,774 20,336

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 274 0
Accruals 1,500 1,500
Other taxation and social security 591 1,532
2,365 3,032

7. Deferred tax

2024 2023
£ £
At the beginning of financial year 7,742 0
Credited to the Income Statement 1,114 7,742
At the end of financial year 8,856 7,742

8. Related party transactions

At the year end the director owed the company £36 (2023 - £36 owed by the director to the company).