Registration number: 11510374

BSMT Space Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

BSMT Space Ltd

Company Information

Directors

L Fiorentino G Key

Registered office

529 Kingsland Road London E84AR

Accountants

Headspace Accountancy Ltd Chartered AccountantsDeep Well House 2 Yarmouth Road Hales Norfolk NR14 6SP

BSMT Space Ltd

(Registration number: 11510374)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	2,470	3,294
Tangible assets	5	2,202	2,937
		4,672	6,231
Current assets
Stocks	6	23,433	22,500
Debtors	7	7,500	13,405
Cash at bank and in hand		56,043	44,861
		86,976	80,766
Creditors: Amounts falling due within one year	8	(35,042)	(29,204)
Net current assets		51,934	51,562
Total assets less current liabilities		56,606	57,793
Creditors: Amounts falling due after more than one year	8	(2,700)	(6,614)
Net assets		53,906	51,179
Capital and reserves
Called up share capital	9	2	2
Retained earnings		53,904	51,177
Shareholders' funds		53,906	51,179

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 May 2026 and signed on its behalf by:
 

......................................... G Key Director

BSMT Space Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
529 Kingsland Road
London
E84AR

These financial statements were authorised for issue by the Board on 15 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

BSMT Space Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment and fixtures	25% on reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website	25% on reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

BSMT Space Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

BSMT Space Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 September 2024	10,416	10,416
At 31 August 2025	10,416	10,416
Amortisation
At 1 September 2024	7,122	7,122
Amortisation charge	824	824
At 31 August 2025	7,946	7,946
Carrying amount
At 31 August 2025	2,470	2,470
At 31 August 2024	3,294	3,294

BSMT Space Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2024	8,764	8,764
At 31 August 2025	8,764	8,764
Depreciation
At 1 September 2024	5,827	5,827
Charge for the year	735	735
At 31 August 2025	6,562	6,562
Carrying amount
At 31 August 2025	2,202	2,202
At 31 August 2024	2,937	2,937

6

Stocks

	2025 £	2024 £
Other inventories	23,433	22,500

7

Debtors

Current	2025 £	2024 £
Trade debtors	-	5,905
Other debtors	7,500	7,500
	7,500	13,405

BSMT Space Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	680	2,192
Taxation and social security	14,551	16,952
Accruals and deferred income	170	600
Other creditors	19,641	9,460
	35,042	29,204

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	2,700	6,614

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,700	6,614