REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Spacezero (North) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Spacezero (North) Limited |
Spacezero (North) Limited (Registered number: 07720864) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Spacezero (North) Limited |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Abacus House |
Pennine Business Park |
Longbow Close |
Huddersfield |
West Yorkshire |
HD2 1GQ |
Spacezero (North) Limited (Registered number: 07720864) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 1,355,406 |
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) |
Balance Sheet - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Spacezero (North) Limited (Registered number: 07720864) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Spacezero (North) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Taxation |
Taxation for the year comprises current and deferred tax. 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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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 year end and that are expected to apply to the reversal of the timing difference. |
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. |
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. |
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. |
Spacezero (North) Limited (Registered number: 07720864) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill | Website | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
as restated |
£ | £ |
Trade debtors |
Work-in-progress | 715,359 | 565,359 |
Amounts owed by associates |
Other debtors |
Directors' loan accounts | 232,920 | 649,644 |
Tax |
VAT |
Prepayments |
Spacezero (North) Limited (Registered number: 07720864) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
as restated |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Amounts owed to associates | 537 | - |
Tax |
Social security and other tax |
Pension fund | 8,344 | 8,344 |
Other creditors |
Directors' loan accounts | 49,356 | - |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
as restated |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.23 | 31.3.22 |
as restated |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.3.22 |
as restated |
£ | £ |
Factoring creditor | 390,448 | 95,028 |
Lloyds Bank Commercial Finance Ltd hold a fixed and floating charge over all assets of the company. |
Spacezero (North) Limited (Registered number: 07720864) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 31 March 2023 and period ended 31 March 2022: |
31.3.23 | 31.3.22 |
£ | £ |
Director 1 |
Balance outstanding at start of year | 321,237 | - |
Amounts advanced | - | 321,237 |
Amounts repaid | (321,237 | ) | - |
Balance outstanding at end of year | - | 321,237 |
31.3.23 | 31.3.22 |
£ | £ |
Director 2 |
Balance outstanding at start of year | 134,843 | - |
Amounts advanced | 155,311 | 134,843 |
Amounts repaid | (178,799 | ) | - |
Balance outstanding at end of year | 111,355 | 134,843 |
31.3.23 | 31.3.22 |
£ | £ |
Director 3 |
Balance outstanding at start of year | 193,564 | - |
Amounts advanced | 173,945 | 193,564 |
Amounts repaid | (245,944 | ) | - |
Balance outstanding at end of year | 121,565 | 193,564 |
12. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company was owed £162,777 (2022 - £263,159) from Form Design Associates Limited. The directors of Spacezero (North) Limited are also a directors of Form Design Associates Limited. |
At the balance sheet date, the company was owed £12,222 (2022 - £12,222) from Spacezero (South) Limited. The directors of Spacezero (North) Limited are also a directors of Spacezero (South) Limited. |
At the balance sheet date, the company was owed £4,886 (2022 - £3,384) from Intrafield Limited. The directors of Spacezero (North) Limited are also a directors of Intrafield Limited. |
At the balance sheet date, the company was owed £202,717 (2022 - £Nil) from Kampus International Ltd. The directors of Spacezero (North) Limited are also a directors of Kampus International Ltd. |
At the balance sheet date, the company owed £16 (2022 - £Nil) to BIMBox Associated Limited. The directors of Spacezero (North) Limited are also a directors of BIMBox Associated Limited. |
At the balance sheet date, the company owed £521 (2022 - (£6,183)) to Spacezero HK. The directors of Spacezero (North) Limited are also a directors of Spacezero HK. |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr W Taylor and Mr P P Gardner. |