REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 October 2020 to 31 March 2022 |
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for |
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Spacezero (North) Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 October 2020 to 31 March 2022 |
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for |
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Spacezero (North) Limited |
Spacezero (North) Limited (Registered number: 07720864) |
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Contents of the Financial Statements |
for the Period 1 October 2020 to 31 March 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Spacezero (North) Limited |
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Company Information |
for the Period 1 October 2020 to 31 March 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
1st Floor |
98-100 Gisburn Road |
Barrowford |
Lancashire |
BB9 6EW |
Spacezero (North) Limited (Registered number: 07720864) |
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Balance Sheet |
31 March 2022 |
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31.3.22 | 30.9.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Spacezero (North) Limited (Registered number: 07720864) |
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Balance Sheet - continued |
31 March 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Spacezero (North) Limited (Registered number: 07720864) |
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Notes to the Financial Statements |
for the Period 1 October 2020 to 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Spacezero (North) Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill represents the difference between amounts paid on the cost of a business and the acquirer's interest in the fair value of the identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis, to the Statement of Comprehensive Income, over its useful economic life. |
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Website |
The company's website is being amortised over its expected life of three years. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Government grants |
Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on Tangible Fixed Assets are credited to the Profit and Loss Account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. |
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Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Spacezero (North) Limited (Registered number: 07720864) |
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Notes to the Financial Statements - continued |
for the Period 1 October 2020 to 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Research and development |
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence, all expenditure on research shall be recognised as an expense when it is incurred. Intangible Assets are recognised from the development phase of a project if certain specific criteria are met, in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on straight line basis over their useful economic lives, which can range from 3 to 6 years. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 October 2020 |
and 31 March 2022 |
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AMORTISATION |
At 1 October 2020 |
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Charge for period |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 30 September 2020 |
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Spacezero (North) Limited (Registered number: 07720864) |
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Notes to the Financial Statements - continued |
for the Period 1 October 2020 to 31 March 2022 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 October 2020 |
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Additions |
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At 31 March 2022 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for period |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 30 September 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 30.9.20 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 30.9.20 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.22 | 30.9.20 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Spacezero (North) Limited (Registered number: 07720864) |
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Notes to the Financial Statements - continued |
for the Period 1 October 2020 to 31 March 2022 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.3.22 | 30.9.20 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 82,500 |