REGISTERED NUMBER: 05181973 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Living by Ispace Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

S T Dixon

J Dixon

N Dixon

SECRETARY:

REGISTERED OFFICE:

1 Monckton Court

South Newbald Road

North Newbald

York

Y043 4RW

REGISTERED NUMBER:

05181973 (England and Wales)

ACCOUNTANTS:

Sadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

BANKERS:

HSBC Bank Plc

Sheffield DSC

Northgate Court

6 Cumberland Way

Sheffield

South Yorkshire

S1 4NA

FIXED ASSETS

Tangible assets

4

186,643

159,062

CURRENT ASSETS

Stocks

5

247,674

509,287

Debtors

6

1,036,591

143,829

Cash at bank

20,864

98,876

1,305,129

751,992

CREDITORS

Amounts falling due within one year

7

619,928

427,361

NET CURRENT ASSETS

685,201

324,631

TOTAL ASSETS LESS CURRENT LIABILITIES

871,844

483,693

CREDITORS

Amounts falling due after more than one year

8

(552,568

)

(241,811

)

PROVISIONS FOR LIABILITIES

(35,463

)

(20,201

)

NET ASSETS

283,813

221,681

CAPITAL AND RESERVES

Called up share capital

9

80

80

Retained earnings

283,733

221,601

SHAREHOLDERS' FUNDS

283,813

221,681

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2025 and were signed on its behalf by:

S T Dixon - Director

1.	STATUTORY INFORMATION

Living by Ispace 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover 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.

Plant and machinery etc

-

15% on reducing balance and 10% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

180,995

Additions

57,430

At 31st December 2024

238,425

DEPRECIATION

At 1st January 2024

21,933

Charge for year

29,849

At 31st December 2024

51,782

NET BOOK VALUE

At 31st December 2024

186,643

At 31st December 2023

159,062

5.

STOCKS

2024

2023

£

£

Stocks

16,762

26,542

Work-in-progress

230,912

482,745

247,674

509,287

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

90,663

50,000

Other debtors

261,874

84,033

Other debtors - VAT

9,259

9,796

Inter-company accounts

674,795

-

1,036,591

143,829

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

6,520

-

Trade creditors

97,350

118,996

Taxation

116

7,232

Social security and other taxes

9,690

5,578

Other creditors

732

5,421

Directors' current accounts

189,233

133,448

Accrued expenses

316,287

156,686

619,928

427,361

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other loans - 2-5 years

372,197

49,041

Hire purchase contracts

20,091

-

Associated entities

160,280

192,770

552,568

241,811

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

80

Ordinary

£1

80

80

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 Balance Sheet. 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 Living by Ispace Limited for the year ended 31st December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Living by Ispace 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 Living by Ispace Limited and state those matters that we have agreed to state to the Board of Directors of Living by Ispace Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Living by Ispace Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Living by Ispace 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 Living by Ispace Limited. You consider that Living by Ispace 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 Living by Ispace 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.

Sadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

23rd September 2025