Yourspace Projects Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10758007 (England and Wales)

YOURSPACE PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

8 MAY 2017 TO 31 MAY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C S Davey

SECRETARY:

Ms E Emlyn

REGISTERED OFFICE:

Churchgate House

3 Church Road

Whitchurch

Cardiff

SOUTH GLAMORGAN

CF14 2DX

REGISTERED NUMBER:

10758007 (England and Wales)

FIXED ASSETS

Tangible assets

4

4,327

CURRENT ASSETS

Stocks

141,975

Debtors

5

18,206

Cash at bank and in hand

13,509

173,690

CREDITORS

Amounts falling due within one year

6

155,267

NET CURRENT ASSETS

18,423

TOTAL ASSETS LESS CURRENT LIABILITIES

22,750

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

8

22,650

SHAREHOLDERS' FUNDS

22,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31 January 2019 and were signed by:

C S Davey - Director

1.	STATUTORY INFORMATION

Yourspace Projects Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past

event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be

reliable estimated.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administration expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

Additions

373

4,500

1,008

5,881

At 31 May 2018

373

4,500

1,008

5,881

DEPRECIATION

Charge for period

93

1,125

336

1,554

At 31 May 2018

93

1,125

336

1,554

NET BOOK VALUE

At 31 May 2018

280

3,375

672

4,327

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

12,202

Other debtors

5,438

Prepayments

566

18,206

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

72,832

Tax

4,298

Directors' current accounts

75,962

Accrued expenses

2,175

155,267

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

8.

RESERVES

Retained

earnings

£

Profit for the period

22,650

At 31 May 2018

22,650

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 May 2018:

£

C S Davey

Balance outstanding at start of period

-

Amounts repaid

(75,962

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(75,962

)

10.	RELATED PARTY DISCLOSURES

Included in other debtors is an amount due from Durlston Properties Limited of £1,420 and included in sales is

£243,256 of property development work completed during the period on properties owned by Durlston

Properties Limited.

Also included in sales is £47,263 of sales to SEEC Property Limited for property development work.

The Director C S Davey is both a Director and shareholder in the above Company's. All transactions have been

completed on an arms length basis.