Atlas Self Storage Ltd 12848074 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is offering storage facilities. Digita Accounts Production Advanced 6.30.9574.0 true 12848074 2022-04-01 2023-03-31 12848074 2023-03-31 12848074 core:RetainedEarningsAccumulatedLosses 2023-03-31 12848074 core:ShareCapital 2023-03-31 12848074 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12848074 bus:SmallEntities 2022-04-01 2023-03-31 12848074 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12848074 bus:FullAccounts 2022-04-01 2023-03-31 12848074 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12848074 bus:RegisteredOffice 2022-04-01 2023-03-31 12848074 bus:Director1 2022-04-01 2023-03-31 12848074 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12848074 core:Buildings 2022-04-01 2023-03-31 12848074 core:PlantMachinery 2022-04-01 2023-03-31 12848074 core:OtherRelatedParties 2022-04-01 2023-03-31 12848074 countries:AllCountries 2022-04-01 2023-03-31 12848074 2022-03-31 12848074 2021-04-01 2022-03-31 12848074 2022-03-31 12848074 core:RetainedEarningsAccumulatedLosses 2022-03-31 12848074 core:ShareCapital 2022-03-31 12848074 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 12848074

Atlas Self Storage Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

Atlas Self Storage Ltd

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Atlas Self Storage Ltd

(Registration number: 12848074)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

80,775

75,891

Current assets

 

Debtors

10,667

10,671

Cash at bank and in hand

 

23,544

52,467

 

34,211

63,138

Creditors: Amounts falling due within one year

(102,172)

(134,368)

Net current liabilities

 

(67,961)

(71,230)

Net assets

 

12,814

4,661

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

12,714

4,561

Total equity

 

12,814

4,661

For the financial year ending 31 March 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 of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 5 October 2023
 

Mr R J Carroll

Director

 

Atlas Self Storage Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14a Frederick Road
Bridgwater
Somerset
TA6 4NF
England

These financial statements were authorised for issue by the director on 5 October 2023.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Atlas Self Storage Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% Straight line

Freehold property

10% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Total
£

Cost or valuation

At 1 April 2022

85,084

Additions

14,880

At 31 March 2023

99,964

Depreciation

At 1 April 2022

9,193

Charge for the year

9,996

At 31 March 2023

19,189

Carrying amount

At 31 March 2023

80,775

At 31 March 2022

75,891

5

Related party transactions

Summary of transactions with other related parties

Included within creditors are interest free loans of £20,100 which have been provided to a company, in which the director is a director and shareholder, and are repayable on demand.