My New Space Ltd - Accounts to registrar (filleted) - small 23.2.5
My New Space Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2022 |
| FOR |
| MY NEW SPACE LTD |
| MY NEW SPACE LTD (REGISTERED NUMBER: 09878907) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2022 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| MY NEW SPACE LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 5 Jardine House |
| Harrovian Business Village |
| Bessborough Road |
| Harrow |
| Middlesex |
| HA1 3EX |
| MY NEW SPACE LTD (REGISTERED NUMBER: 09878907) |
| STATEMENT OF FINANCIAL POSITION |
| 30 NOVEMBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 11 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| MY NEW SPACE LTD (REGISTERED NUMBER: 09878907) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 NOVEMBER 2022 |
| 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 |
| MY NEW SPACE LTD (REGISTERED NUMBER: 09878907) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2022 |
| 1. | STATUTORY INFORMATION |
| My New Space Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents receivable during the period. Rental income is recognised on the basis of |
| amounts due in the period. |
| 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. |
| Franchise fee |
| Franchise fee, being the amount paid in the year to 01 November 2015, is being amortised evenly over |
| its estimated useful life of 5 years. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Going concern |
| The company has the continued financial support of its directors, who have agreed not to request |
| repayment of their loan until the company has the funds available. The loan and mortgage are |
| repayable in years two to five and in more than five years, respectively, by which time it is anticipated |
| that the company will be in a position to make the repayments. On this basis the directors of My New |
| Space Limited consider it appropriate to prepare accounts on the going concern basis. The financial |
| statements do not include any adjustments that would result in the company suffering further trading |
| losses. |
| MY NEW SPACE LTD (REGISTERED NUMBER: 09878907) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2021 - NIL). |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 December 2021 |
| and 30 November 2022 |
| AMORTISATION |
| At 1 December 2021 |
| and 30 November 2022 |
| NET BOOK VALUE |
| At 30 November 2022 |
| At 30 November 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 December 2021 |
| and 30 November 2022 |
| DEPRECIATION |
| At 1 December 2021 |
| Charge for year |
| At 30 November 2022 |
| NET BOOK VALUE |
| At 30 November 2022 |
| At 30 November 2021 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2021 |
| Revaluations | 50,000 |
| At 30 November 2022 |
| NET BOOK VALUE |
| At 30 November 2022 |
| At 30 November 2021 |
| MY NEW SPACE LTD (REGISTERED NUMBER: 09878907) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2022 |
| 6. | INVESTMENT PROPERTY - continued |
| Fair value at 30 November 2022 is represented by: |
| £ |
| Valuation in 2021 | 67,745 |
| Valuation in 2022 | 50,000 |
| Cost | 882,255 |
| 1,000,000 |
| Investment properties were valued on an open market basis on 30 November 2022 by the directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| The bank loans are secured by way of a fixed and floating charge over the fixed asset investment properties and includes a negative pledge. |
| 11. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 December 2021 |
| Transfer | 40,500 |
| At 30 November 2022 |