NATURESPACE PARTNERSHIP LIMITED
NATURESPACE PARTNERSHIP LIMITED
Registered number: 10755017
Unaudited Financial Statements
For The Year Ended
31 December 2022
Brooks & Partners Accountants Ltd
NATURESPACE PARTNERSHIP LIMITED
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—7 |
NATURESPACE PARTNERSHIP LIMITED
Statement of Financial Position
As at
31 December 2022
Statement of Financial Position
Registered number:
10755017
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
|
|
||
| Tangible Assets | 4 |
|
|
||
| Investments | 5 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 6 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 7 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 8 |
|
( |
||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
|
|
||
| Share premium account |
|
|
|||
| Income Statement |
|
( |
|||
| SHAREHOLDERS' FUNDS | 1,300,497 | 351,921 | |||
NATURESPACE PARTNERSHIP LIMITED
Statement of Financial Position (continued)
As at
31 December 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 7 form part of these financial statements.
NATURESPACE PARTNERSHIP LIMITED
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
1.2.
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 rendering of services related to surveying, assessment, implementation, reporting and certification in respect of the Great Crested Newt District Licensing Scheme. Turnover is reduced for customer rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
1.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Other 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. Intangible assets relate to website development costs and are amortised on a straight line basis over its estimated economic life of 10 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Computer Equipment |
|
1.5.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
NATURESPACE PARTNERSHIP LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
1.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
1.8.
Employee Share Scheme
The company operates an EMI Share Option Plan for invited employees.
Included employees are granted the option to purchase shares in the company at an agreed exercise price based on the individual contract vesting conditions.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 25 (2021: 15)
3.
Intangible Assets
| Development Costs | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
|
|
||
| As at
|
|
||
| Amortisation | |||
| As at
|
|
||
| Provided during the period |
|
||
| As at
|
|
||
| Net Book Value | |||
| As at
|
|
||
| As at
|
|
||
NATURESPACE PARTNERSHIP LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
4.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
|
|
|
|
| Additions |
|
|
|
| As at
|
|
|
|
| Depreciation | |||
| As at
|
|
|
|
| Provided during the period |
|
|
|
| As at
|
|
|
|
| Net Book Value | |||
| As at
|
|
|
|
| As at
|
|
|
|
5.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at
|
|
| As at
|
|
| Provision | |
| As at
|
|
| As at
|
|
| Net Book Value | |
| As at
|
|
| As at
|
|
Investment cost relates to nominal share capital owned in dormant subsidiary.
NATURESPACE PARTNERSHIP LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
6.
Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| VAT | - |
|
|
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Corporation tax |
|
|
|
| VAT |
|
- | |
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
|
|
|
||
NATURESPACE PARTNERSHIP LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
10.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Other | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Between 1 and 5 years | 28,707 | - |
| 28,707 | - | |
11.
Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £6,169 (2021: £2,691) were due to the fund. They are included in Other Creditors.
12.
Related Party Transactions
During the period the company paid for services totalling £1,388 (2021: £1,388) to a company with connected shareholders.
13.
Share Option Plan
At the year end there was a share option plan in place with an average exercise price of £0.67
Shares
- Options available to exercise at 1 January 2022 127,418
- Options granted in the period 63,707
- Options available to exercise at 31 December 2022 191,125
- Options remaining to be granted at 31 December 2022 Nil
On exercise the employee is required to purchase the shares at the exercise price and as such does not require a provision for remuneration.
14.
General Information
NATURESPACE PARTNERSHIP LIMITED
is a private company, limited by shares, incorporated in England & Wales, registered number
10755017
. The registered office is 22 St. Peter's Street, Stamford, Lincolnshire, PE9 2PF.