URBAN SPACE POTENTIAL LIMITED

URBAN SPACE POTENTIAL LIMITED

URBAN SPACE POTENTIAL LIMITED - Company Information

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Company Registration No. 11043243 (England and Wales)
URBAN SPACE POTENTIAL LIMITED Filleted Accounts for the year ended 31 December 2023
URBAN SPACE POTENTIAL LIMITED Filleted Accounts Contents
Page
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URBAN SPACE POTENTIAL LIMITED Company Information for the year ended 31 December 2023
Director
John Skinner
Company Number
11043243 (England and Wales)
Registered Office
8 Belle Vue Street York Yorkshire YO10 5AY United Kingdom
Accountants
SSJ Accountants Ltd 173A High Street Beckenham Kent BR3 1AH
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of URBAN SPACE POTENTIAL LIMITED for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of URBAN SPACE POTENTIAL LIMITED for the year ended 31 December 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of URBAN SPACE POTENTIAL LIMITED, as a body, in accordance with the terms of our engagement letter dated 26 April 2018. Our work has been undertaken solely to prepare for your approval the accounts of URBAN SPACE POTENTIAL LIMITED and state those matters that we have agreed to state to the Board of Directors of URBAN SPACE POTENTIAL LIMITED, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than URBAN SPACE POTENTIAL LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that URBAN SPACE POTENTIAL LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of URBAN SPACE POTENTIAL LIMITED. You consider that URBAN SPACE POTENTIAL LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of URBAN SPACE POTENTIAL LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
SSJ Accountants Ltd Chartered Accountants 173A High Street Beckenham Kent BR3 1AH 24 April 2024
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URBAN SPACE POTENTIAL LIMITED Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
1,938 
1,689 
Current assets
Debtors
5
5,400 
5,162 
Cash at bank and in hand
37,958 
15,732 
43,358 
20,894 
Creditors: amounts falling due within one year
6
(1,084)
10,300 
Net current assets
42,274 
31,194 
Net assets
44,212 
32,883 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
43,212 
31,883 
Shareholders' funds
44,212 
32,883 
For the year ending 31 December 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 April 2024 and were signed on its behalf by
John Skinner Director Company Registration No. 11043243
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URBAN SPACE POTENTIAL LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
URBAN SPACE POTENTIAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11043243. The registered office is 8 Belle Vue Street, York, Yorkshire, YO10 5AY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% RB
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2023
3,928 
Additions
895 
At 31 December 2023
4,823 
Depreciation
At 1 January 2023
2,239 
Charge for the year
646 
At 31 December 2023
2,885 
Net book value
At 31 December 2023
1,938 
At 31 December 2022
1,689 
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URBAN SPACE POTENTIAL LIMITED Notes to the Accounts for the year ended 31 December 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,400 
5,162 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
492 
- 
Taxes and social security
7,481 
9,513 
Loans from directors
(6,889)
(19,813)
1,084 
(10,300)
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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