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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 December 2019 |
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NatureSpace Partnership Limited |
REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 December 2019 |
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for |
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NatureSpace Partnership Limited |
NatureSpace Partnership Limited (Registered number: 10755017) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Chartered Accountants' Report | 3 |
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Income Statement | 4 |
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Balance Sheet | 5 |
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Statement of Changes in Equity | 7 |
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Notes to the Financial Statements | 8 |
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NatureSpace Partnership Limited |
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Company Information |
for the Year Ended 31 December 2019 |
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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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Quantum House |
3-5 College Street |
Nottingham |
NG1 5AQ |
NatureSpace Partnership Limited (Registered number: 10755017) |
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Report of the Directors |
for the Year Ended 31 December 2019 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2019. |
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PRINCIPAL ACTIVITY |
The company works with developers and conservation groups, on behalf of 7 participating local |
authorities, to assess development proposals under the South Midlands district licensing scheme |
for great crested newts. The scheme provides developers with a quick, reliable and cost-effective |
mechanism for dealing with great crested newts, and delivers significant conservation benefit for |
the newts. The principal activity of the company under the year of review was to manage and |
deliver the South Midlands scheme, which is now fully operational. |
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EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2019 to |
the date of this report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act |
2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
NatureSpace Partnership Limited |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for |
your approval the financial statements of NatureSpace Partnership Limited for the year ended |
31 December 2019 which comprise the Income Statement, Balance Sheet, Statement of Changes |
in Equity and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of NatureSpace Partnership Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NatureSpace Partnership Limited and state those matters that we have agreed to state to the Board of Directors of NatureSpace Partnership Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NatureSpace Partnership Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that NatureSpace Partnership 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 NatureSpace Partnership Limited. You consider that NatureSpace Partnership Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of NatureSpace Partnership 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. |
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Quantum House |
3-5 College Street |
Nottingham |
NG1 5AQ |
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NatureSpace Partnership Limited (Registered number: 10755017) |
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Income Statement |
for the Year Ended 31 December 2019 |
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Period |
1.6.18 |
Year Ended | to |
31.12.19 | 31.12.18 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS LOSS | ( |
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Administrative expenses |
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OPERATING LOSS | 4 | ( |
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Interest payable and similar
expenses |
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LOSS BEFORE TAXATION | ( |
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Tax on loss | 5 |
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LOSS FOR THE FINANCIAL YEAR | ( |
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NatureSpace Partnership Limited (Registered number: 10755017) |
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Balance Sheet |
31 December 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
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Tangible assets | 7 |
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CURRENT ASSETS |
Debtors | 8 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Share premium |
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Retained earnings | ( |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 2006 and |
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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. |
NatureSpace Partnership Limited (Registered number: 10755017) |
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Balance Sheet - continued |
31 December 2019 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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NatureSpace Partnership Limited (Registered number: 10755017) |
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Statement of Changes in Equity |
for the Year Ended 31 December 2019 |
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Called up |
share | Retained | Share | Total |
capital | earnings | premium | equity |
£ | £ | £ | £ |
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Balance at 1 June 2018 |
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Changes in equity |
Total comprehensive income | - | ( |
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Balance at 31 December 2018 |
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Changes in equity |
Total comprehensive income | - | ( |
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Balance at 31 December 2019 |
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NatureSpace Partnership Limited (Registered number: 10755017) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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NatureSpace Partnership Limited is a
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England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents fee income arising from issuing of reports and certification in respect of |
the Great Crested Newt District Licensing Scheme in the South Midlands area. Secondary |
payments are applicable by developers in significant impact areas and are recognised as |
income when planning permission is obtained by the developer. |
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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. |
The website costs are being amortised evenly over its estimated useful life of ten years. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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. |
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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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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 year 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. |
NatureSpace Partnership Limited (Registered number: 10755017) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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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Cost of sales |
The costs in respect of surveys and obtaining licences have been recognised on an arising |
basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | OPERATING LOSS |
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The operating loss is stated after charging: |
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Period |
1.6.18 |
Year Ended | to |
31.12.19 | 31.12.18 |
£ | £ |
Depreciation - owned assets |
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Website amortisation |
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5. | TAXATION |
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Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 31 December 2019 nor for the |
period ended 31 December 2018. |
NatureSpace Partnership Limited (Registered number: 10755017) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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6. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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AMORTISATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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7. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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NatureSpace Partnership Limited (Registered number: 10755017) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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10. | CALLED UP SHARE CAPITAL |
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The total number of 0.01p ordinary shares in issue at the balance sheet date was 3,698,878 |
amounting to £602,614 of equity. |
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11. | RELATED PARTY DISCLOSURES |
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Including in other debtors is an amount due from The Environment Bank Limited of £6,267 |
(2018: £1,797), a company with some common directors and shareholders. |
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The Environment Bank Limited provides written Great Crested Newt Assessment Reports on |
a commercial basis. |
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Historically, The Environment Bank Limited provided short term financial assistance and a |
banking facility as the company commenced to trade. |
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Nature Metrics Limited, a shareholder of NatureSpace Partnership Limited, provides eDNA |
sampling services on a commercial basis. Nature Metrics Limited and NatureSpace |
Partnership Limited have a common director. |
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The company has a service agreement in place with The South Midlands Newt Conservation |
Partnership (SMNCP), a community-benefit society whose sole purpose is creating and |
managing high quality habitat for great crested newts. SMNCP and NatureSpace |
Partnership Limited have a common director. |
The service agreement permits up to 65% of funds from developers (The Great Crested |
Newt Compensation Fund) to be remitted to SMNCP. |
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A director provided a loan of £150,000 at an interest rate of 8% (2018:£nil) to provide short |
term financial assistance. The loan is 365 days after the Commencement Date but without |
any obligation upon the director to do so, the director shall be entitled to allow the Borrower |
extended time to pay or grant any other indulgence to the Borrower without affecting any of |
the rights of the Lender in whole or in part. |
NatureSpace Partnership Limited (Registered number: 10755017) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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12. | POST BALANCE SHEET EVENTS |
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The director's loan (as described in Note 11) was increased to £200,000 in January 2020. |
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On 28 February 2020 4,300,321 of 0.01p ordinary shares were issued amounting to an |
additional £400,000 of equity. |
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The company received a £50,000 coronavirus Bounce Back Loan in May 2020 to provide |
additional cash resource during the coronavirus outbreak. |