Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04638949 2022-04-01 2023-03-31 04638949 2021-04-01 2022-03-31 04638949 2023-03-31 04638949 2022-03-31 04638949 2021-04-01 04638949 c:Director1 2022-04-01 2023-03-31 04638949 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 04638949 d:Buildings d:ShortLeaseholdAssets 2023-03-31 04638949 d:Buildings d:ShortLeaseholdAssets 2022-03-31 04638949 d:PlantMachinery 2022-04-01 2023-03-31 04638949 d:PlantMachinery 2023-03-31 04638949 d:PlantMachinery 2022-03-31 04638949 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04638949 d:MotorVehicles 2022-04-01 2023-03-31 04638949 d:MotorVehicles 2023-03-31 04638949 d:MotorVehicles 2022-03-31 04638949 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04638949 d:FurnitureFittings 2022-04-01 2023-03-31 04638949 d:FurnitureFittings 2023-03-31 04638949 d:FurnitureFittings 2022-03-31 04638949 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04638949 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04638949 d:ComputerSoftware 2022-04-01 2023-03-31 04638949 d:ComputerSoftware 2023-03-31 04638949 d:ComputerSoftware 2022-03-31 04638949 d:CurrentFinancialInstruments 2023-03-31 04638949 d:CurrentFinancialInstruments 2022-03-31 04638949 d:Non-currentFinancialInstruments 2023-03-31 04638949 d:Non-currentFinancialInstruments 2022-03-31 04638949 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04638949 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04638949 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04638949 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04638949 d:ShareCapital 2023-03-31 04638949 d:ShareCapital 2022-03-31 04638949 d:SharePremium 2023-03-31 04638949 d:SharePremium 2022-03-31 04638949 d:CapitalRedemptionReserve 2023-03-31 04638949 d:CapitalRedemptionReserve 2022-03-31 04638949 d:RetainedEarningsAccumulatedLosses 2023-03-31 04638949 d:RetainedEarningsAccumulatedLosses 2022-03-31 04638949 c:FRS102 2022-04-01 2023-03-31 04638949 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04638949 c:FullAccounts 2022-04-01 2023-03-31 04638949 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04638949 d:WithinOneYear 2023-03-31 04638949 d:WithinOneYear 2022-03-31 04638949 d:BetweenOneFiveYears 2023-03-31 04638949 d:BetweenOneFiveYears 2022-03-31 04638949 d:MoreThanFiveYears 2023-03-31 04638949 d:MoreThanFiveYears 2022-03-31 04638949 6 2022-04-01 2023-03-31 04638949 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04638949 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 04638949 d:OtherDeferredTax 2023-03-31 04638949 d:OtherDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 04638949










STOREGROW LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
STOREGROW LIMITED
REGISTERED NUMBER: 04638949

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
41,524
62,337

Tangible assets
 5 
170,950
189,885

Investments
 6 
30,150
27,478

Current assets
  

Debtors: amounts falling due within one year
 7 
422,483
306,402

Cash at bank and in hand
  
8,089
26,501

  
430,572
332,903

Creditors: amounts falling due within one year
 8 
(395,149)
(343,773)

Net current assets/(liabilities)
  
 
 
35,423
 
 
(10,870)

Total assets less current liabilities
  
278,047
268,830

Creditors: amounts falling due after more than one year
 9 
(22,404)
(31,667)

Provisions for liabilities
  

Deferred tax
 10 
(41,418)
(34,837)

Net assets
  
214,225
202,326


Capital and reserves
  

Called up share capital 
  
960
960

Share premium account
  
19,000
19,000

Capital redemption reserve
  
40
40

Profit and loss account
  
194,225
182,326

  
214,225
202,326


Page 1

 
STOREGROW LIMITED
REGISTERED NUMBER: 04638949
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 November 2023.




R S Sadler
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Storegrow Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 04638949). Its registered office address is Heathfield Down Farmhouse, Modbury, Ivybridge, Devon, PL21 0SU. The principal activity of the Company throughout the year continued to be that of the letting of land for self storage.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation rates used are:

Short term leasehold property
-
straight line over 15 year lease
Plant and machinery
-
20 year straight line
Motor vehicles
-
4 years straight line
Fixtures and fittings
-
3 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. 

 
2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Page 4

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the revaluation model, intangible assets shall be carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent impairment losses - provided that the fair value can be determined by reference to an active market.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the Balance Sheet date.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.9

Valuation of investments

Investments in gold sovereigns and silver are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the year. 


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Cryptocurrency

£



Cost


At 1 April 2022
62,337


Revaluation deficit
(20,813)



At 31 March 2023

41,524






Net book value



At 31 March 2023
41,524



At 31 March 2022
62,337



Page 6

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost 


At 1 April 2022
126,403
507,294
15,555
17,252
666,504


Additions
-
488
563
11,727
12,778



At 31 March 2023

126,403
507,782
16,118
28,979
679,282



Depreciation


At 1 April 2022
123,879
325,749
10,618
16,373
476,619


Charge for the year on owned assets
211
25,387
3,924
2,191
31,713



At 31 March 2023

124,090
351,136
14,542
18,564
508,332



Net book value



At 31 March 2023
2,313
156,646
1,576
10,415
170,950



At 31 March 2022
2,524
181,545
4,937
879
189,885

Page 7

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Fixed asset investments





Gold and silver

£



Cost or valuation


At 1 April 2022
27,478


Additions
833


Revaluations
1,839



At 31 March 2023
30,150





7.


Debtors

2023
2022
£
£


Trade debtors
41,552
31,571

Other debtors
368,731
266,199

Prepayments and accrued income
12,200
8,632

422,483
306,402



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,974
10,000

Trade creditors
12,987
13,721

Corporation tax
79,653
47,529

Other taxation and social security
43,525
33,610

Other creditors
190,056
183,545

Accruals and deferred income
58,954
55,368

395,149
343,773


Page 8

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,404
31,667



10.


Deferred taxation




2023
2022


£

£






At beginning of year
34,837
38,252


Charged to profit or loss
6,581
(3,415)



At end of year
41,418
34,837

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
41,418
34,855

Movement in provisions
-
(18)

41,418
34,837


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,380 (2022 : £1,430). Contributions totalling £nil (2021 : £220) were payable to the fund at the Balance Sheet date and are included in creditors.

Page 9

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
119,787
119,787

Later than 1 year and not later than 5 years
479,148
479,148

Later than 5 years
79,858
199,645

678,793
798,580

 
Page 10