| URBAN SPACE POTENTIAL LTD |
|
| Chartered Accountants' report to the board of directors on the preparation of the statutory accounts of URBAN SPACE POTENTIAL LTD for the year ended 31 December 2018 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of URBAN SPACE POTENTIAL LTD for the year ended 31 December 2018 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the 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, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance |
| Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF. |
|
| SSJ Accountants Ltd |
| Chartered Accountants |
| 173a High Street |
| Beckenham |
| Kent |
|
| BR3 1AH |
|
| 4 January 2019 |
|
| URBAN SPACE POTENTIAL LTD |
| Registered number: |
11043243 |
| Balance Sheet |
| as at 31 December 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,210 |
|
|
- |
|
|
|
|
1,210 |
|
|
- |
|
| Current assets |
| Debtors |
4 |
|
- |
|
|
- |
| Cash at bank and in hand |
|
|
33,473 |
|
|
- |
|
|
|
33,473 |
|
|
- |
|
| Creditors: amounts falling due within one year |
5 |
|
(12,204) |
|
|
- |
|
| Net current assets |
|
|
|
21,269 |
|
|
- |
|
| Total assets less current liabilities |
|
|
|
22,479 |
|
|
- |
|
|
| Net assets |
|
|
|
22,479 |
|
|
- |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
- |
| Profit and loss account |
|
|
|
21,479 |
|
|
- |
|
| Shareholders' funds |
|
|
|
22,479 |
|
|
- |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| J Skinner |
| Director |
| Approved by the board on 3 January 2019 |
|
| URBAN SPACE POTENTIAL LTD |
| Notes to the Accounts |
| for the year ended 31 December 2018 |
|
|
| 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. |
|
|
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: |
|
Plant and machinery |
Straight line method |
|
Fixtures, fittings, tools and equipment |
Reducing Balance method |
|
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2018 |
- |
|
- |
|
- |
|
- |
|
Additions |
- |
|
1,613 |
|
- |
|
1,613 |
|
Surplus on revaluation |
- |
|
- |
|
- |
|
- |
|
Disposals |
- |
|
- |
|
- |
|
- |
|
At 31 December 2018 |
- |
|
1,613 |
|
- |
|
1,613 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2018 |
- |
|
- |
|
- |
|
- |
|
Charge for the year |
- |
|
403 |
|
- |
|
403 |
|
Surplus on revaluation |
- |
|
- |
|
- |
|
- |
|
On disposals |
- |
|
- |
|
- |
|
- |
|
At 31 December 2018 |
- |
|
403 |
|
- |
|
403 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2018 |
- |
|
1,210 |
|
- |
|
1,210 |
|
At 31 December 2017 |
- |
|
- |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2018 |
|
2017 |
| £ |
£ |
|
Historical cost |
- |
|
- |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
- |
|
- |
|
Other debtors |
- |
|
- |
|
|
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade creditors |
- |
|
- |
|
Directors loan |
|
161 |
|
- |
|
Taxation and social security costs |
12,043 |
|
- |
|
Other creditors |
- |
|
- |
|
|
|
|
|
|
12,204 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Non-equity preference shares |
- |
|
- |
|
Bank loans |
- |
|
- |
|
Obligations under finance lease and hire purchase contracts |
- |
|
- |
|
Trade creditors |
- |
|
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
- |
|
Other creditors |
- |
|
- |
|
|
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
URBAN SPACE POTENTIAL LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Flat 4 |
|
Ryle hill park |
|
London |
|
|
SE15 3JR |
