REGISTERED NUMBER: 08086772 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Atspace Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

128,432

145,733

Tangible assets

5

174,905

103,972

303,337

249,705

CURRENT ASSETS

Stocks

9,489

5,706

Debtors

6

520,018

521,453

Cash at bank

153,943

106,804

683,450

633,963

CREDITORS

Amounts falling due within one year

7

445,970

418,422

NET CURRENT ASSETS

237,480

215,541

TOTAL ASSETS LESS CURRENT LIABILITIES

540,817

465,246

CREDITORS

Amounts falling due after more than one year

8

(122,620

)

(123,146

)

PROVISIONS FOR LIABILITIES

(33,232

)

(19,755

)

NET ASSETS

384,965

322,345

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

384,865

322,245

SHAREHOLDERS' FUNDS

384,965

322,345

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2025 and were signed by:

Mr P Whiffin - Director

1.	STATUTORY INFORMATION

Atspace Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08086772

Registered office:

Units 3 & 4 The Cokenach Estate

Barkway

Royston

Hertfordshire

SG8 8DL

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.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision ofservices in the ordinary course of the company’s activities. Turnover is shown net of sales/valueadded tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life of ten years.

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.

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

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 29 (2023 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

313,000

AMORTISATION

At 1 January 2024

167,267

Amortisation for year

17,301

At 31 December 2024

184,568

NET BOOK VALUE

At 31 December 2024

128,432

At 31 December 2023

145,733

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

158,404

7,465

79,583

25,975

271,427

Additions

33,933

1,437

83,600

4,634

123,604

Disposals

-

-

(21,523

)

-

(21,523

)

At 31 December 2024

192,337

8,902

141,660

30,609

373,508

DEPRECIATION

At 1 January 2024

105,430

4,019

37,386

20,620

167,455

Charge for year

18,999

1,695

25,368

5,495

51,557

Eliminated on disposal

-

-

(20,409

)

-

(20,409

)

At 31 December 2024

124,429

5,714

42,345

26,115

198,603

NET BOOK VALUE

At 31 December 2024

67,908

3,188

99,315

4,494

174,905

At 31 December 2023

52,974

3,446

42,197

5,355

103,972

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

105,212

94,891

Other debtors

405,373

412,586

Prepayments

9,433

13,976

520,018

521,453

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 9)

71,818

52,186

Hire purchase contracts

21,732

6,776

Trade creditors

24,162

36,126

Tax

17,428

36,057

Social security and other taxes

14,602

29,955

VAT

100,932

74,684

Other creditors

25,846

62,850

Pension creditor

2,750

2,602

Directors' current accounts

106,759

101,928

Accrued expenses

57,927

15,078

Wages control

2,014

180

445,970

418,422

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 9)

36,592

89,817

Hire purchase contracts

86,028

33,329

122,620

123,146

9.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

71,818

52,186

Amounts falling due between one and two years:

Bank loans - 1-2 years

36,592

58,225

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

31,592

The loans and borrowings are secure via a personal guarantee from the director.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary shared

£1

100

100

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £106,759 (2023: £101,928) to P C Whiffin, the director.This loan is provided interest-free and is repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Whiffin.