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Registered number: 07577088
Space Electrical Management Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
AK Tax & Accountancy Ltd
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 07577088
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,522 2,030
1,522 2,030
CURRENT ASSETS
Debtors 5 91,811 63,525
91,811 63,525
Creditors: Amounts Falling Due Within One Year 6 (72,663 ) (64,054 )
NET CURRENT ASSETS (LIABILITIES) 19,148 (529 )
TOTAL ASSETS LESS CURRENT LIABILITIES 20,670 1,501
NET ASSETS 20,670 1,501
CAPITAL AND RESERVES
Called up share capital 7 1 1
Income Statement 20,669 1,500
SHAREHOLDERS' FUNDS 20,670 1,501
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr M Sales
Director
18/08/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Space Electrical Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07577088 . The registered office is Suite 1 Christchurch House, Beaufort Court, Sir Thomas Longley Road, Rochester, Kent, ME2 4FX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2024 77,578 7,506 85,084
As at 31 March 2025 77,578 7,506 85,084
Depreciation
As at 1 April 2024 75,797 7,257 83,054
Provided during the period 445 63 508
As at 31 March 2025 76,242 7,320 83,562
Net Book Value
As at 31 March 2025 1,336 186 1,522
As at 1 April 2024 1,781 249 2,030
Page 2
Page 3
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 23,400 7,068
Other debtors 68,411 56,457
91,811 63,525
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 10,764 10,209
Bank loans and overdrafts 24,488 22,605
Other taxes and social security 35,111 27,140
Accruals and deferred income 2,300 4,100
72,663 64,054
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
Page 3