REGISTERED NUMBER: 05375549 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Innovating Space Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

S T Dixon

Mrs N Van Beelen

Miss D Dixon

J Dixon

N Dixon

SECRETARY:

Mrs N Van Beelen

REGISTERED OFFICE:

1 Monckton Court

South Newbald Road

North Newbald

East Yorkshire

YO43 4RW

REGISTERED NUMBER:

05375549 (England and Wales)

ACCOUNTANTS:

Sadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

BANKERS:

National Westminster Bank plc

34 King Edward Street

Hull

East Yorkshire

HU1 3SS

FIXED ASSETS

Tangible assets

4

1,750,773

1,808,091

Investments

5

494,770

494,770

2,245,543

2,302,861

CURRENT ASSETS

Debtors

6

506,153

374,394

Cash at bank and in hand

27,185

109,844

533,338

484,238

CREDITORS

Amounts falling due within one year

7

488,039

494,092

NET CURRENT ASSETS/(LIABILITIES)

45,299

(9,854

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,290,842

2,293,007

CREDITORS

Amounts falling due after more than one year

8

(66,147

)

(105,127

)

PROVISIONS FOR LIABILITIES

(18,472

)

(29,259

)

NET ASSETS

2,206,223

2,158,621

CAPITAL AND RESERVES

Called up share capital

9

150

150

Fair value reserve

10

(405,000

)

(405,000

)

Capital redemption reserve

50

50

Retained earnings

2,611,023

2,563,421

SHAREHOLDERS' FUNDS

2,206,223

2,158,621

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 30th September 2025 and were signed on its behalf by:

S T Dixon - Director

1.	STATUTORY INFORMATION

Innovating Space 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales, excluding value added tax.

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

-

33% on reducing balance, 25% on cost and 15% on reducing balance

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 8 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1st January 2024

1,645,000

394,116

2,039,116

Additions

-

2,128

2,128

At 31st December 2024

1,645,000

396,244

2,041,244

DEPRECIATION

At 1st January 2024

-

231,025

231,025

Charge for year

-

59,446

59,446

At 31st December 2024

-

290,471

290,471

NET BOOK VALUE

At 31st December 2024

1,645,000

105,773

1,750,773

At 31st December 2023

1,645,000

163,091

1,808,091

Cost or valuation at 31st December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2015

552,922

-

552,922

Valuation in 2021

(405,000

)

-

(405,000

)

Cost

1,497,078

396,244

1,893,322

1,645,000

396,244

2,041,244

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2024

and 31st December 2024

494,770

NET BOOK VALUE

At 31st December 2024

494,770

At 31st December 2023

494,770

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

9,530

2,078

Other debtors

370,740

215,225

Other debtors - SSP & SMP

948

-

381,218

217,303

Amounts falling due after more than one year:

Other debtors

124,935

157,091

Aggregate amounts

506,153

374,394

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

38,999

39,018

Trade creditors

2,047

2,954

Taxation

16,851

36,767

Social security and other taxes

28,396

24,179

Other creditors

20,524

9,935

Advances

-

9,134

Directors' current accounts

346,150

346,225

Accruals and deferred income

35,072

25,880

488,039

494,092

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

66,147

105,127

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

150

Ordinary

£1

150

150

10.

RESERVES

Fair

value

reserve

£

At 1st January 2024

and 31st December 2024

(405,000

)

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 Innovating Space 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 Innovating Space 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 Innovating Space Limited and state those matters that we have agreed to state to the Board of Directors of Innovating Space 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 Innovating Space Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Innovating Space 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 Innovating Space Limited. You consider that Innovating Space 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 Innovating Space 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

30th September 2025