GR8 Space Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04216664 (England and Wales)

Financial Statements for the Year Ended 31 March 2021

for

GR8 Space Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Liddell

N A Liddell

R T Brighton

S A Blackledge

SECRETARY:

R T Brighton

REGISTERED OFFICE:

Chatsworth

The Holloway

Droitwich Spa

Worcestershire

WR9 7AJ

REGISTERED NUMBER:

04216664 (England and Wales)

ACCOUNTANTS:

R T Brighton Chartered Accountants

Chatsworth

The Holloway

Droitwich Spa

Worcestershire

WR9 7AJ

FIXED ASSETS

Tangible assets

4

10,279

7,196

CURRENT ASSETS

Debtors

5

248,983

279,622

Cash at bank and in hand

32,135

13,696

281,118

293,318

CREDITORS

Amounts falling due within one year

6

101,485

155,019

NET CURRENT ASSETS

179,633

138,299

TOTAL ASSETS LESS CURRENT LIABILITIES

189,912

145,495

PROVISIONS FOR LIABILITIES

1,904

1,307

NET ASSETS

188,008

144,188

CAPITAL AND RESERVES

Called up share capital

1,400

1,400

Retained earnings

186,608

142,788

SHAREHOLDERS' FUNDS

188,008

144,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 6 December 2021 and were signed on its behalf by:

N A Liddell - Director

1.	STATUTORY INFORMATION

GR8 Space 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance

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.

Work in progress

Work in Progress is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2020 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

43,840

Additions

7,480

Disposals

(288

)

At 31 March 2021

51,032

DEPRECIATION

At 1 April 2020

36,644

Charge for year

4,205

Eliminated on disposal

(96

)

At 31 March 2021

40,753

NET BOOK VALUE

At 31 March 2021

10,279

At 31 March 2020

7,196

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

243,505

279,025

Other debtors

5,478

597

248,983

279,622

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

13,193

25,225

Taxation and social security

165,593

128,799

Other creditors

(77,301

)

995

101,485

155,019

7.	RELATED PARTY DISCLOSURES