16
31/03/2022
2022-03-31
false
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No description of principal activities is disclosed
2021-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
04446605
2021-04-01
2022-03-31
04446605
2022-03-31
04446605
2021-03-31
04446605
2020-04-01
2021-03-31
04446605
2021-03-31
04446605
core:PlantMachinery
2021-04-01
2022-03-31
04446605
core:FurnitureFittingsToolsEquipment
2021-04-01
2022-03-31
04446605
core:MotorVehicles
2021-04-01
2022-03-31
04446605
bus:RegisteredOffice
2021-04-01
2022-03-31
04446605
bus:LeadAgentIfApplicable
2021-04-01
2022-03-31
04446605
bus:Director1
2021-04-01
2022-03-31
04446605
bus:Director2
2021-04-01
2022-03-31
04446605
bus:CompanySecretary1
2021-04-01
2022-03-31
04446605
core:PlantMachinery
2021-03-31
04446605
core:FurnitureFittingsToolsEquipment
2021-03-31
04446605
core:MotorVehicles
2021-03-31
04446605
core:LandBuildings
core:LongLeaseholdAssets
2022-03-31
04446605
core:PlantMachinery
2022-03-31
04446605
core:FurnitureFittingsToolsEquipment
2022-03-31
04446605
core:MotorVehicles
2022-03-31
04446605
core:WithinOneYear
2022-03-31
04446605
core:WithinOneYear
2021-03-31
04446605
core:AfterOneYear
2022-03-31
04446605
core:AfterOneYear
2021-03-31
04446605
core:ShareCapital
2022-03-31
04446605
core:ShareCapital
2021-03-31
04446605
core:RetainedEarningsAccumulatedLosses
2022-03-31
04446605
core:RetainedEarningsAccumulatedLosses
2021-03-31
04446605
core:LandBuildings
core:LongLeaseholdAssets
2021-04-01
2022-03-31
04446605
core:LandBuildings
core:LongLeaseholdAssets
2021-03-31
04446605
core:PlantMachinery
2021-03-31
04446605
core:MotorVehicles
2021-03-31
04446605
bus:Director1
2021-03-31
04446605
bus:Director1
2022-03-31
04446605
bus:Director1
2020-03-31
04446605
bus:Director1
2021-03-31
04446605
bus:Director1
2020-04-01
2021-03-31
04446605
bus:SmallEntities
2021-04-01
2022-03-31
04446605
bus:AuditExemptWithAccountantsReport
2021-04-01
2022-03-31
04446605
bus:FullAccounts
2021-04-01
2022-03-31
04446605
bus:SmallCompaniesRegimeForAccounts
2021-04-01
2022-03-31
04446605
bus:PrivateLimitedCompanyLtd
2021-04-01
2022-03-31
Company registration number:
04446605
Spacecraft Commercial Interiors Limited
Trading as
Spacepod
Unaudited filleted financial statements
31 March 2022
Spacecraft Commercial Interiors Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Spacecraft Commercial Interiors Limited
Directors and other information
|
|
|
|
Directors
|
Kevin Parker
|
|
|
Raina Parker
|
|
|
|
|
|
|
|
Secretary
|
Stephen Swain
|
|
|
|
|
|
|
|
Company number
|
04446605
|
|
|
|
|
|
|
|
Registered office
|
The Orangery
|
|
|
Station Road
|
|
|
Bourne End
|
|
|
Bucks
|
|
|
SL8 5YP
|
|
|
|
|
|
|
|
Business address
|
The Orangery
|
|
|
Station Road
|
|
|
Bourne End
|
|
|
Bucks
|
|
|
SL8 5YP
|
|
|
|
|
|
|
|
Accountants
|
Ruskells Limited
|
|
|
The Tall House
|
|
|
29a West Street
|
|
|
Marlow
|
|
|
Bucks
|
|
|
SL7 2LS
|
|
|
|
Spacecraft Commercial Interiors Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Spacecraft Commercial Interiors Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spacecraft Commercial Interiors Limited for the year ended 31 March 2022 which comprise the statement of financial position and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Spacecraft Commercial Interiors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Spacecraft Commercial Interiors Limited and state those matters that we have agreed to state to the board of directors of Spacecraft Commercial Interiors Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spacecraft Commercial Interiors Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Spacecraft Commercial Interiors 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 loss of Spacecraft Commercial Interiors Limited. You consider that Spacecraft Commercial Interiors 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 Spacecraft Commercial Interiors 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.
Ruskells Limited
Chartered Accountants
The Tall House
29a West Street
Marlow
Bucks
SL7 2LS
13 December 2022
Spacecraft Commercial Interiors Limited
Statement of financial position
31 March 2022
|
|
|
2022
|
|
|
|
2021
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
120,644
|
|
|
|
120,857
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
120,644
|
|
|
|
120,857
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
67,750
|
|
|
|
67,750
|
|
|
Debtors
|
|
6
|
25,338
|
|
|
|
83,243
|
|
|
Cash at bank and in hand
|
|
|
50,755
|
|
|
|
219
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
143,843
|
|
|
|
151,212
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
982,492)
|
|
|
|
(
648,407)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current liabilities
|
|
|
|
|
(
838,649)
|
|
|
|
(
497,195)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
(
718,005)
|
|
|
|
(
376,338)
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
8
|
|
|
(
228,514)
|
|
|
|
(
335,986)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net liabilities
|
|
|
|
|
(
946,519)
|
|
|
|
(
712,324)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
2
|
|
|
|
2
|
Profit and loss account
|
|
|
|
|
(
946,521)
|
|
|
|
(
712,326)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders deficit
|
|
|
|
|
(
946,519)
|
|
|
|
(
712,324)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2022 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
13 December 2022
, and are signed on behalf of the board by:
Kevin Parker
Director
Company registration number:
04446605
Spacecraft Commercial Interiors Limited
Notes to the financial statements
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Orangery, Station Road, Bourne End, Bucks, SL8 5YP.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Long leasehold property
|
-
|
Long leasehold properties are not depreciated
|
|
|
Plant and machinery
|
-
|
25 %
|
reducing balance
|
|
Fittings fixtures and equipment
|
-
|
33 %
|
straight line
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
16
(2021:
13
).
5.
Tangible assets
|
|
Long leasehold property
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
£
|
£
|
£
|
£
|
£
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 April 2021 and 31 March 2022
|
120,005
|
1,523
|
76,889
|
35,976
|
234,393
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 April 2021
|
-
|
1,508
|
76,889
|
35,139
|
113,536
|
|
|
|
Charge for the year
|
-
|
4
|
-
|
209
|
213
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 March 2022
|
-
|
1,512
|
76,889
|
35,348
|
113,749
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 March 2022
|
120,005
|
11
|
-
|
628
|
120,644
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 March 2021
|
120,005
|
15
|
-
|
837
|
120,857
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
25,338
|
71,582
|
|
Other debtors
|
|
-
|
11,661
|
|
|
|
_______
|
_______
|
|
|
|
25,338
|
83,243
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
133,064
|
132,037
|
|
Trade creditors
|
|
269,694
|
305,967
|
|
Corporation tax
|
|
5,061
|
2,356
|
|
Social security and other taxes
|
|
371,809
|
177,836
|
|
Other creditors
|
|
202,864
|
30,211
|
|
|
|
_______
|
_______
|
|
|
|
982,492
|
648,407
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Other creditors
|
|
228,514
|
335,986
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Kevin Parker
|
6,411
|
(
10,037)
|
(
3,626)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
2021
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Kevin Parker
|
(
11,368)
|
17,779
|
6,411
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
10.
Controlling party
The company is controlled by Kevin and
Raina Parker
, who are the directors of the company, by virtue of their 100% shareholding.
11.
Going concern
The directors commit to supporting the business financially so that it may be considered as a going concern.