1 January 2024 false No description of principal activity Taxfiler 2024.6 07533156business:PrivateLimitedCompanyLtd2024-01-012024-12-31 075331562023-12-31 075331562024-01-012024-12-31 07533156business:AuditExemptWithAccountantsReport2024-01-012024-12-31 07533156business:FilletedAccounts2024-01-012024-12-31 075331562024-12-31 07533156business:Director12024-01-012024-12-31 07533156business:Director22024-01-012024-12-31 07533156business:Director32024-01-012024-12-31 07533156business:Director42024-01-012024-12-31 07533156business:Director62024-01-012024-12-31 07533156business:RegisteredOffice2024-01-012024-12-31 075331562023-12-31 07533156core:WithinOneYear2024-12-31 07533156core:WithinOneYear2023-12-31 07533156core:AfterOneYear2024-12-31 07533156core:AfterOneYear2023-12-31 07533156core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 07533156core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 07533156core:SharePremiumcore:PreviouslyStatedAmount2024-12-31 07533156core:SharePremiumcore:PreviouslyStatedAmount2023-12-31 07533156core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 07533156core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 07533156core:PreviouslyStatedAmount2024-12-31 07533156core:PreviouslyStatedAmount2023-12-31 07533156business:SmallEntities2024-01-012024-12-31 07533156countries:EnglandWales2024-01-012024-12-31 07533156core:ComputerEquipment2024-01-012024-12-31 07533156core:IntangibleAssetsOtherThanGoodwill2023-12-31 07533156core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-31 07533156core:IntangibleAssetsOtherThanGoodwill2024-12-31 07533156core:ComputerEquipment2023-12-31 07533156core:ComputerEquipment2024-12-31 075331562023-01-012023-12-31 iso4217:GBP xbrli:pure
Company Registration No. 07533156 (England and Wales)
Branchspace Limited Unaudited accounts for the year ended 31 December 2024
Branchspace Limited Unaudited accounts Contents
Page
- 2 -
Branchspace Limited Company Information for the year ended 31 December 2024
Directors
Michael Huynh David Gideon Marock Ursula Julia Silling David Turton Martin Gordon Robertson
Company Number
07533156 (England and Wales)
Registered Office
Henry Wood House 4-5 Langham Place London W1B 3DG England
Accountants
Swell Consultants Underhill Dartmouth Road Stoke Fleming Devon TQ6 0QY
- 3 -
Branchspace Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,696,767 
745,646 
Tangible assets
241 
482 
Investments
1,025 
1,025 
1,698,033 
747,153 
Current assets
Debtors
2,215,384 
931,932 
Cash at bank and in hand
748,304 
2,255,412 
2,963,688 
3,187,344 
Creditors: amounts falling due within one year
(962,233)
(757,029)
Net current assets
2,001,455 
2,430,315 
Total assets less current liabilities
3,699,488 
3,177,468 
Creditors: amounts falling due after more than one year
(975,000)
- 
Net assets
2,724,488 
3,177,468 
Capital and reserves
Called up share capital
713 
713 
Share premium
3,239,652 
3,239,652 
Profit and loss account
(515,877)
(62,897)
Shareholders' funds
2,724,488 
3,177,468 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by
Michael Huynh Director Company Registration No. 07533156
- 4 -
Branchspace Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Branchspace Limited is a private company, limited by shares, registered in England and Wales, registration number 07533156. The registered office is Henry Wood House, 4-5 Langham Place, London, W1B 3DG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% RBM
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
- 5 -
Branchspace Limited Notes to the Accounts for the year ended 31 December 2024
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
745,646 
Additions
1,100,250 
At 31 December 2024
1,845,896 
Amortisation
At 1 January 2024
- 
Charge for the year
149,129 
At 31 December 2024
149,129 
Net book value
At 31 December 2024
1,696,767 
At 31 December 2023
745,646 
- 6 -
Branchspace Limited Notes to the Accounts for the year ended 31 December 2024
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2024
6,976 
At 31 December 2024
6,976 
Depreciation
At 1 January 2024
6,494 
Charge for the year
241 
At 31 December 2024
6,735 
Net book value
At 31 December 2024
241 
At 31 December 2023
482 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2024
1,025 
Valuation at 31 December 2024
1,025 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
9,694 
10,088 
Trade debtors
1,677,173 
561,585 
Amounts due from group undertakings etc.
253,812 
- 
Accrued income and prepayments
222,417 
180,581 
Other debtors
52,288 
179,678 
2,215,384 
931,932 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
126,581 
81,486 
Trade creditors
521,554 
231,499 
Taxes and social security
(82,888)
112,485 
Other creditors
40,241 
35,614 
Accruals
93,739 
54,585 
Deferred income
263,006 
241,360 
962,233 
757,029 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
975,000 
- 
- 7 -
Branchspace Limited Notes to the Accounts for the year ended 31 December 2024
10
Loans to directors
All directors loans were repaid in full during the year.
11
Average number of employees
During the year the average number of employees was 14 (2023: 8).
- 8 -