REGISTERED NUMBER: 08004590 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Taskspace Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C Magee

SECRETARY:

Mrs R Magee

REGISTERED OFFICE:

Infinity House

Commerce Way

Leighton Buzzard

LU7 4RW

REGISTERED NUMBER:

08004590 (England and Wales)

ACCOUNTANTS:

Pace Accountants

Noble House

Eaton Road

Hemel Hempstead

Hertfordshire

HP2 7UB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

69,124

51,724

69,124

51,724

CURRENT ASSETS

Debtors

6

624,548

1,125,028

Cash at bank and in hand

3,006,864

2,980,694

3,631,412

4,105,722

CREDITORS

Amounts falling due within one year

7

683,981

1,356,562

NET CURRENT ASSETS

2,947,431

2,749,160

TOTAL ASSETS LESS CURRENT LIABILITIES

3,016,555

2,800,884

PROVISIONS FOR LIABILITIES

5,350

10,160

NET ASSETS

3,011,205

2,790,724

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

3,010,205

2,789,724

SHAREHOLDERS' FUNDS

3,011,205

2,790,724

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

C Magee - Director

1.	STATUTORY INFORMATION

Taskspace 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five 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.

Intellectual Property are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

465,000

35,000

500,000

AMORTISATION

At 1 January 2024

and 31 December 2024

465,000

35,000

500,000

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

12,390

64,790

50,865

128,045

Additions

360

40,830

6,860

48,050

Disposals

-

(7,355

)

(4,910

)

(12,265

)

At 31 December 2024

12,750

98,265

52,815

163,830

DEPRECIATION

At 1 January 2024

3,098

45,635

27,588

76,321

Charge for year

3,187

14,751

11,730

29,668

Eliminated on disposal

-

(6,373

)

(4,910

)

(11,283

)

At 31 December 2024

6,285

54,013

34,408

94,706

NET BOOK VALUE

At 31 December 2024

6,465

44,252

18,407

69,124

At 31 December 2023

9,292

19,155

23,277

51,724

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

344,063

715,686

Other debtors

-

102,500

Loans

173,200

189,500

Prepayments and accrued income

107,285

117,342

624,548

1,125,028

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

70,262

111,196

Social Security

33,256

88,128

Tax

183,369

216,456

VAT

60,971

202,644

Other creditors

165,798

565,333

Directors' current accounts

4,293

2,326

Accruals and deferred income

166,032

170,479

683,981

1,356,562

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

65,554

65,790

Between one and five years

30,636

1,191

96,190

66,981

9.	RELATED PARTY DISCLOSURES

The aggregate balance of loans from the director outstanding at the year end amounted to £4,293 (2023: £2,326).

The aggregate balance of loans from shareholders and other related parties outstanding at the year end amounted to £4,293 (2023: £2,326).

The aggregate balance of loans from group undertakings outstanding at the year end amounted to £98,000.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Emerson Grant Holdings Ltd.