Company Registration No. 11646188 (England and Wales)
SPACE FORGE LIMITED
Unaudited accounts
for the year ended 31 December 2024
SPACE FORGE LIMITED
Unaudited accounts
Contents
SPACE FORGE LIMITED
Company Information
for the year ended 31 December 2024
Directors
Andrew Bacon
Joshua Western
Benedict Olivier
Dr Rodger Sykes
Sanjeev Gordhan
Trisha Saxena
Company Number
11646188 (England and Wales)
Registered Office
UNIT 10 EASTGATE BUSINESS PARK
WENTLOOG AVENUE
CARDIFF
CF3 2EY
WALES
Accountants
Multiply Accountancy Limited
71-75 Shelton Street
London
WC2H 9JQ
SPACE FORGE LIMITED
Statement of financial position
as at 31 December 2024
Intangible assets
-
24,839
Tangible assets
1,162,413
443,456
Debtors
2,945,406
2,128,398
Cash at bank and in hand
12,241,001
2,418,364
Creditors: amounts falling due within one year
(1,849,377)
(4,870,296)
Net current assets/(liabilities)
13,337,030
(323,534)
Net assets
14,499,443
144,761
Called up share capital
301
196
Share premium
28,203,887
7,973,218
Capital contribution reserve
-
888,726
Profit and loss account
(13,704,745)
(8,717,379)
Shareholders' funds
14,499,443
144,761
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 26 September 2025 and were signed on its behalf by
Joshua Western
Director
Company Registration No. 11646188
SPACE FORGE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
SPACE FORGE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11646188. The registered office is UNIT 10 EASTGATE BUSINESS PARK, WENTLOOG AVENUE, CARDIFF, CF3 2EY, WALES.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
33 % Straight Line
Fixtures & fittings
The period of the Lease
Computer equipment
33% Straight Line
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
At 31 December 2024
74,519
Charge for the year
24,839
At 31 December 2024
74,519
At 31 December 2023
24,839
SPACE FORGE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
305,492
335,737
123,126
764,355
Additions
966,496
29,538
80,012
1,076,046
At 31 December 2024
1,271,988
365,275
203,138
1,840,401
At 1 January 2024
132,200
127,117
61,582
320,899
Charge for the year
234,891
75,785
46,413
357,089
At 31 December 2024
367,091
202,902
107,995
677,988
At 31 December 2024
904,897
162,373
95,143
1,162,413
At 31 December 2023
173,292
208,620
61,544
443,456
Amounts falling due within one year
Trade debtors
17,386
35,026
Accrued income and prepayments
171,563
121,420
Other debtors
2,756,457
1,971,952
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
302,042
292,044
Taxes and social security
126,575
121,494
Other creditors
-
4,397,188
Deferred income
1,314,825
-
Included within Creditors - amounts falling due within one year in the period ended 31 December 2023 is £4,397,188 which represents the debt component of the convertible loan notes issued in that period. During the period ended 31 December 2024, the full amount was converted to shares.
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.
SPACE FORGE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
9
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
38,900
38,900
Later than one year and not later than five years
48,625
9,725
10
Average number of employees
During the year the average number of employees was 63 (2023: 51).