NatureSpace Partnership Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10755017 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

NatureSpace Partnership Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Prof D A Hill

Dr T E Tew

Mr R K Ellis

Mr J D Hinnigan

Mr P J Macdonald

REGISTERED OFFICE:

22 St Peters Street

Stamford

Lincolnshire

PE9 2PF

REGISTERED NUMBER:

10755017 (England and Wales)

ACCOUNTANTS:

Mellor Oxland LLP

Quantum House

3-5 College Street

Nottingham

NG1 5AQ

FIXED ASSETS

Intangible assets

4

7,191

7,989

Tangible assets

5

3,577

2,201

Investments

6

1

-

10,769

10,190

CURRENT ASSETS

Debtors

7

76,057

70,983

Cash at bank

493,268

8,045

569,325

79,028

CREDITORS

Amounts falling due within one year

8

325,335

322,771

NET CURRENT ASSETS/(LIABILITIES)

243,990

(243,743

)

TOTAL ASSETS LESS CURRENT LIABILITIES

254,759

(233,553

)

CREDITORS

Amounts falling due after more than one year

9

43,682

-

NET ASSETS/(LIABILITIES)

211,077

(233,553

)

CAPITAL AND RESERVES

Called up share capital

10

4,300

3,699

Share premium

998,313

598,915

Retained earnings

(791,536

)

(836,167

)

211,077

(233,553

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 5 March 2021 and were signed on its behalf by:

Dr T E Tew - Director

1.	STATUTORY INFORMATION

NatureSpace Partnership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

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 on a reducing balance basis over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

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.

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.

Cost of sales

The costs in respect of surveys and obtaining licences have been recognised on an arising basis.

Government grants

Government grants relate to financial support provided during the Coronavirus (Covid-19) pandemic.

The Coronavirus Job Retention Scheme (CJRS) is a revenue-based grant where receipts have been recognised as income in the period which they relate to.

Business interruption payments have been accounted for using the accrual model.

Impact of covid-19 in relation to going concern

The company has continued to operate during these challenging times and has taken

advantage of the relevant government financial assistance packages where appropriate.

The company performance improved significantly in 2020 and therefore the board do not anticipate any significant long term adverse effects arising from the Covid-19 pandemic.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2020

and 31 December 2020

9,680

AMORTISATION

At 1 January 2020

1,691

Charge for year

798

At 31 December 2020

2,489

NET BOOK VALUE

At 31 December 2020

7,191

At 31 December 2019

7,989

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

3,643

Additions

3,811

Disposals

(2,105

)

At 31 December 2020

5,349

DEPRECIATION

At 1 January 2020

1,442

Charge for year

1,864

Eliminated on disposal

(1,534

)

At 31 December 2020

1,772

NET BOOK VALUE

At 31 December 2020

3,577

At 31 December 2019

2,201

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1

At 31 December 2020

1

NET BOOK VALUE

At 31 December 2020

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

41,316

60,520

Other debtors

34,741

10,463

76,057

70,983

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

6,318

-

Trade creditors

21,724

72,069

Taxation and social security

23,732

601

Other creditors

273,561

250,101

325,335

322,771

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Long term creditors relate to funds received under the Bounce Back Loan Scheme, a government-backed lending scheme designed to support businesses affected by Covid-19.

Amounts due after more than 5 yrs amounted to £3,486 (2019: £nil).

10.	CALLED UP SHARE CAPITAL

The total number of 0.01p ordinary shares in issue at the balance sheet date was 4,300,321 amounting to £1,002,613 of equity.

11.	RELATED PARTY DISCLOSURES

Including in other debtors is an amount due from The Environment Bank Limited of £8,757 (2019: £6,267) a company with some common directors and shareholders.

The Environment Bank Limited provides written Great Crested Newt Assessment Reports on a commercial basis.

Historically, The Environment Bank Limited provided short term financial assistance and a banking facility as the company commenced to trade.

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.

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.

One of the directors has provided a loan of £200,000 (2019: £150,000) at an interest rate of 8% (2019 : £8%). The loan is repayable 365 days after the commencement date but the director may allow the company extended time to pay or grant any other indulgence to the company without affecting any of his right in whole or in part.