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REGISTERED NUMBER: 10359188 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Spacefit UK Limited

Spacefit UK Limited (Registered number: 10359188)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

Spacefit UK Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: K S McGuinness
R S Daniels





REGISTERED OFFICE: Grosvenor House
45 The Downs
Altrincham
Cheshire
WA14 2QG





REGISTERED NUMBER: 10359188 (England and Wales)





ACCOUNTANTS: Renshaw Limited
Grosvenor House
45 The Downs
Altrincham
Cheshire
WA14 2QG

Spacefit UK Limited (Registered number: 10359188)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 27,808 17,309

CURRENT ASSETS
Debtors 5 1,811,033 2,046,760
Cash at bank and in hand 656,347 545,884
2,467,380 2,592,644
CREDITORS
Amounts falling due within one year 6 1,806,486 1,954,938
NET CURRENT ASSETS 660,894 637,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

688,702

655,015

PROVISIONS FOR LIABILITIES 7 5,984 3,725
NET ASSETS 682,718 651,290

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 682,716 651,288
SHAREHOLDERS' FUNDS 682,718 651,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





K S McGuinness - Director


Spacefit UK Limited (Registered number: 10359188)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Spacefit UK Limited 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 13 ) .

Spacefit UK Limited (Registered number: 10359188)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 September 2023 31,422
Additions 16,703
At 31 August 2024 48,125
DEPRECIATION
At 1 September 2023 14,113
Charge for year 6,204
At 31 August 2024 20,317
NET BOOK VALUE
At 31 August 2024 27,808
At 31 August 2023 17,309

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023 2,023
Additions 2,474
At 31 August 2024 4,497
DEPRECIATION
At 1 September 2023 1,547
Charge for year 652
At 31 August 2024 2,199
NET BOOK VALUE
At 31 August 2024 2,298
At 31 August 2023 476

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,222,891 1,419,266
Amounts recoverable on contract 563,825 617,558
Other debtors 24,317 9,936
1,811,033 2,046,760

Spacefit UK Limited (Registered number: 10359188)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases 2,299 665
Trade creditors 1,157,389 1,242,275
Taxation and social security 383,049 465,470
Other creditors 263,749 246,528
1,806,486 1,954,938

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,984 3,725

Deferred
tax
£   
Balance at 1 September 2023 3,725
Charge to Statement of Income and Retained Earnings during year 2,259
Balance at 31 August 2024 5,984

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Spacefit UK Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spacefit UK Limited for the year ended 31 August 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Spacefit UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spacefit UK Limited and state those matters that we have agreed to state to the Board of Directors of Spacefit UK Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spacefit UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spacefit UK Limited. You consider that Spacefit UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Spacefit UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Renshaw Limited
Grosvenor House
45 The Downs
Altrincham
Cheshire
WA14 2QG


28 March 2025