Morespace Design Ltd - Filleted accounts

Morespace Design Ltd
Registered number:		08412110
Balance Sheet
as at 28 February 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		1,592			2,123

Current assets
Stocks		18,840			23,170
Debtors	4	33,602			31,320
Cash at bank and in hand		1,115			8,826
		53,557			63,316

Creditors: amounts falling due within one year	5	(36,018)			(45,819)

Net current assets			17,539			17,497

Net assets			19,131			19,620

Capital and reserves
Called up share capital			100			100
Profit and loss account			19,031			19,520

Shareholders' funds			19,131			19,620

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P Cheon
Director
Approved by the board on 9 October 2026

Morespace Design Ltd
Notes to the Accounts
for the year ended 28 February 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor vehicles	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


2	Employees		2026		2025
Number				Number

	Average number of persons employed by the company		5		5


3	Tangible fixed assets
					Motor vehicle
£
	Cost
	At 1 March 2025				15,899
	At 28 February 2026				15,899

	Depreciation
	At 1 March 2025				13,776
	Charge for the year				531
	At 28 February 2026				14,307

	Net book value
	At 28 February 2026				1,592
	At 28 February 2025				2,123


4	Debtors		2026		2025
£				£

	Other debtors		33,602		31,320


5	Creditors: amounts falling due within one year		2026		2025
£				£

	Bank loans and overdrafts		23,811		-
	Trade creditors		-		856
	Corporation tax		514		7,922
	Other taxes and social security costs		2,541		2,581
	Other creditors		9,152		34,460
			36,018		45,819


6	Other information

	Morespace Design Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Suite 41, Chessington Business Centre
	37 Cox Lane
	Chessington
	Surrey
	KT9 1SD