Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01falseEngineering and manufacturing activities for the advancement of ultimately providing space based solar power.22falsetruefalse 14588523 2024-01-01 2024-12-31 14588523 2023-01-12 2023-12-31 14588523 2024-12-31 14588523 2023-12-31 14588523 c:Director1 2024-01-01 2024-12-31 14588523 d:ComputerEquipment 2024-01-01 2024-12-31 14588523 d:ComputerEquipment 2024-12-31 14588523 d:ComputerEquipment 2023-12-31 14588523 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14588523 d:CurrentFinancialInstruments 2024-12-31 14588523 d:CurrentFinancialInstruments 2023-12-31 14588523 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 14588523 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14588523 d:ShareCapital 2024-12-31 14588523 d:ShareCapital 2023-12-31 14588523 d:RetainedEarningsAccumulatedLosses 2024-12-31 14588523 d:RetainedEarningsAccumulatedLosses 2023-12-31 14588523 c:OrdinaryShareClass1 2024-01-01 2024-12-31 14588523 c:OrdinaryShareClass1 2024-12-31 14588523 c:OrdinaryShareClass1 2023-12-31 14588523 c:FRS102 2024-01-01 2024-12-31 14588523 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14588523 c:FullAccounts 2024-01-01 2024-12-31 14588523 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14588523 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14588523










SPACE SOLAR ENGINEERING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SPACE SOLAR ENGINEERING LIMITED
REGISTERED NUMBER:14588523

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
4,234
-

  
4,234
-

Current assets
  

Debtors: amounts falling due within one year
 5 
1,106,647
605,435

Cash at bank and in hand
 6 
106,877
407,160

  
1,213,524
1,012,595

Creditors: amounts falling due within one year
 7 
(552,759)
(115,948)

Net current assets
  
 
 
660,765
 
 
896,647

Total assets less current liabilities
  
664,999
896,647

  

Net assets
  
664,999
896,647


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
664,899
896,547

  
664,999
896,647


Page 1

 
SPACE SOLAR ENGINEERING LIMITED
REGISTERED NUMBER:14588523

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Adlen
Director

Date: 11 June 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SPACE SOLAR ENGINEERING LIMITED
 
 
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Space Solar Engineering Limited is a private company, limited by share capital and incorporated in England and Wales. The address of its registered office is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, RG19 6AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

  
2.2

Reporting period

The current reporting period is for a full 12 month period ending 31 December 2024. During the comparative period the Company was incorporated on 12 January 2023 and started trading on 31 January 2023 therefore in these financial statements the Company's prior reporting period is for an 11 month and 20 day period only.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
SPACE SOLAR ENGINEERING LIMITED
 

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SPACE SOLAR ENGINEERING LIMITED
 

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
100%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash
Page 5

 
SPACE SOLAR ENGINEERING LIMITED
 

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
4,619



At 31 December 2024

4,619



Depreciation


Charge for the year on owned assets
385



At 31 December 2024

385



Net book value



At 31 December 2024
4,234



At 31 December 2023
-

Page 6

 
SPACE SOLAR ENGINEERING LIMITED
 
 
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
23,973
300,000

Amounts owed by group undertakings
576,648
278,593

Other debtors
103,723
26,842

Prepayments and accrued income
402,303
-

1,106,647
605,435


The company has tax assets with a cumulative headline value of £3,157, however these have been provisioned down to zero as there is no near term expectation of sufficient profits to utilise the tax loss carry forwards.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
106,877
407,160

106,877
407,160



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
411,737
62,818

Amounts owed to group undertakings
24,630
1,900

Accruals and deferred income
116,392
51,230

552,759
115,948



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


Page 7

 
SPACE SOLAR ENGINEERING LIMITED
 
 
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Related party transactions

The Company has taken advantage of the exemption available per paragraph 33.1A of FRS whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary of the Group.


10.


Controlling party

The Company's parent is Space Solar Group Holdings Limited  which is incorporated in England and
Wales and owns 100% of the share capital with full voting rights.


Page 8