SPACE_WORLDWIDE_LIMITED - Accounts

SPACE WORLDWIDE LIMITED - Company Information

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Company Registration No. 03478888 (England and Wales)

SPACE WORLDWIDE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

SPACE WORLDWIDE LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

SPACE WORLDWIDE LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SPACE WORLDWIDE LIMITED FOR THE YEAR ENDED 31 JANUARY 2016

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Space Worldwide Limited for the year ended 31 January 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Space Worldwide Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Space Worldwide Limited and state those matters that we have agreed to state to the Board of Directors of Space Worldwide Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Space Worldwide Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Space Worldwide Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Space Worldwide Limited. You consider that Space Worldwide 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 financial statements of Space Worldwide 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 financial statements.

Carpenter Box

27 October 2016

Chartered Accountants

Amelia House

Crescent Road

Worthing

West Sussex

BN11 1QR

SPACE WORLDWIDE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

15,593

16,798

Current assets

Debtors

64,753

80,794

Cash at bank and in hand

152,088

84,600

216,841

165,394

Creditors: amounts falling due within one year

(111,860)

(148,689)

Net current assets

104,981

16,705

Total assets less current liabilities

120,574

33,503

Provisions for liabilities

(2,594)

(2,719)

117,980

30,784

Capital and reserves

Called up share capital

100

Profit and loss account

117,880

30,684

Shareholders' funds

117,980

30,784

For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 October 2016

Mr G Tillyard

Director

Company Registration No. 03478888

SPACE WORLDWIDE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer and office equipment

25% reducing balance per annum

Fixtures, fittings and equipment

20% reducing balance per annum

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Group relief

During the year, the company claimed group relief of £1,193 from Space Holdings Limited.

SPACE WORLDWIDE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 February 2015

41,793

Additions

807

At 31 January 2016

42,600

Depreciation

At 1 February 2015

24,995

Charge for the year

2,012

At 31 January 2016

27,007

Net book value

At 31 January 2016

15,593

At 31 January 2015

16,798

Share capital

2016

2015

Allotted, called up and fully paid

80 Ordinary 'A' shares of £1 each

20 Ordinary 'B' shares of £1 each

100

Ultimate parent company

The company is under the control of Space Holdings Limited, the ultimate parent company.

Mr G Tillyard and Mrs E Tillyard were the ultimate controlling party of Space Holdings Limited during the year, by virtue of their controlling shareholding. The company was therefore under the control of Mr G Tillyard and Mrs E Tillyard, the directors' of the company.