I have read about limiting size of directory - like creating big files, formatting,mount,.. etc. But this all very complicated. Does exist utility or something else to set limit on already existing directory?
Quota is based upon filesystems, but you can always create a virtual filesystem and mount it on a specific (empty) directory with the usrquota and/or grpquota flags.
In steps this will be:
mount -o loop,rw,usrquota,grpquota /path/to/the/formatted/disk/space /path/of/mount/point