ACCOUNTS - Final Accounts

SPACE ARCHITECTURE LIMITED - Company Information

Caseware UK (AP4) 2020.0.247 2020.0.247 2021-05-312021-05-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2020-06-01falsethe provision of architectual services13true 04622426 2020-06-01 2021-05-31 04622426 2019-06-01 2020-05-31 04622426 2021-05-31 04622426 2020-05-31 04622426 c:Director1 2020-06-01 2021-05-31 04622426 d:OfficeEquipment 2020-06-01 2021-05-31 04622426 d:OfficeEquipment 2021-05-31 04622426 d:OfficeEquipment 2020-05-31 04622426 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-06-01 2021-05-31 04622426 d:ComputerEquipment 2020-06-01 2021-05-31 04622426 d:ComputerEquipment 2021-05-31 04622426 d:ComputerEquipment 2020-05-31 04622426 d:ComputerEquipment d:OwnedOrFreeholdAssets 2020-06-01 2021-05-31 04622426 d:OwnedOrFreeholdAssets 2020-06-01 2021-05-31 04622426 d:CurrentFinancialInstruments 2021-05-31 04622426 d:CurrentFinancialInstruments 2020-05-31 04622426 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 04622426 d:CurrentFinancialInstruments d:WithinOneYear 2020-05-31 04622426 d:ShareCapital 2021-05-31 04622426 d:ShareCapital 2020-05-31 04622426 d:RetainedEarningsAccumulatedLosses 2021-05-31 04622426 d:RetainedEarningsAccumulatedLosses 2020-05-31 04622426 c:FRS102 2020-06-01 2021-05-31 04622426 c:AuditExempt-NoAccountantsReport 2020-06-01 2021-05-31 04622426 c:FullAccounts 2020-06-01 2021-05-31 04622426 c:PrivateLimitedCompanyLtd 2020-06-01 2021-05-31 iso4217:GBP xbrli:pure

Registered number: 04622426

SPACE ARCHITECTURE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021


SPACE ARCHITECTURE LIMITED REGISTERED NUMBER:04622426

BALANCE SHEET

AS AT 31 MAY 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		5,083		8,621
			5,083		8,621
Current assets
Debtors: amounts falling due within one year	5	19,905		12,293
Cash at bank and in hand	6	2,032		2,167
		21,937		14,460
Creditors: amounts falling due within one year	7	(8,945)		(18,218)
Net current assets/(liabilities)			12,992		(3,758)
Total assets less current liabilities			18,075		4,863

Net assets			18,075		4,863

Capital and reserves
Called up share capital	3	3
Profit and loss account	18,072	4,860
	18,075	4,863

Page 1


SPACE ARCHITECTURE LIMITED REGISTERED NUMBER:04622426

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

M Willmott

Director

Date: 22 February 2022

Page 2


SPACE ARCHITECTURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

1.	General information

Space Architecture Limited is a private limited company limited by share capital, incorporated in England and Wales, registration number 04622426. The address of the registered office is 51 Lincoln's Inn Fields, London WC2A 3NA.
During the year the principal activity of the company was that of the provision of architectural services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


SPACE ARCHITECTURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Office equipment	-	20%	straight line
				Computer equipment	-	33%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 -3).

Page 4


SPACE ARCHITECTURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

4.	Tangible fixed assets

	Office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 June 2020	997	10,013	11,010
At 31 May 2021	997	10,013	11,010
Depreciation
At 1 June 2020	344	2,045	2,389
Charge for the year on owned assets	200	3,338	3,538
At 31 May 2021	544	5,383	5,927
Net book value
At 31 May 2021	453	4,630	5,083
At 31 May 2020	653	7,968	8,621

Page 5


SPACE ARCHITECTURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

Debtors

					2021	2020
					£	£


Other debtors	16,680	9,416
Prepayments and accrued income	1,237	889
Tax recoverable	1,988	1,988
	19,905	12,293

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	2,032	2,167
	2,032	2,167

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	3,014	700
Other taxation and social security	3,931	1,202
Other creditors	-	14,316
Accruals and deferred income	2,000	2,000
	8,945	18,218

Pensions

The company operates a defined contribution pension scheme in respect of the staff. The assets of the scheme are held by independent managers. The pension charge represents contributions payable by the company to the fund and amounted to £Nil (2020: £449). Contributions of £Nil (2020: £122) are payable and are included in creditors at the balance sheet date.

Page 6