3 28/02/2023 2023-02-28 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-03-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP SC567488 2022-03-01 2023-02-28 SC567488 2023-02-28 SC567488 2022-02-28 SC567488 2021-03-01 2022-02-28 SC567488 2022-02-28 SC567488 2021-02-28 SC567488 bus:RegisteredOffice 2022-03-01 2023-02-28 SC567488 bus:Director1 2022-03-01 2023-02-28 SC567488 bus:CompanySecretary1 2022-03-01 2023-02-28 SC567488 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 SC567488 core:PlantMachinery 2022-02-28 SC567488 core:MotorVehicles 2022-02-28 SC567488 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 SC567488 core:PlantMachinery 2023-02-28 SC567488 core:FurnitureFittingsToolsEquipment 2023-02-28 SC567488 core:MotorVehicles 2023-02-28 SC567488 core:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 SC567488 core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 SC567488 core:WithinOneYear 2023-02-28 SC567488 core:WithinOneYear 2022-02-28 SC567488 core:ShareCapital 2023-02-28 SC567488 core:ShareCapital 2022-02-28 SC567488 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC567488 core:RetainedEarningsAccumulatedLosses 2022-02-28 SC567488 core:ShareCapital 2021-02-28 SC567488 core:RetainedEarningsAccumulatedLosses 2021-02-28 SC567488 core:LandBuildings core:ShortLeaseholdAssets 2022-03-01 2023-02-28 SC567488 core:PlantMachinery 2022-03-01 2023-02-28 SC567488 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 SC567488 core:MotorVehicles 2022-03-01 2023-02-28 SC567488 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 SC567488 core:PlantMachinery 2022-02-28 SC567488 core:MotorVehicles 2022-02-28 SC567488 bus:Director1 2023-02-28 SC567488 bus:Director1 2022-02-28 SC567488 bus:SmallEntities 2022-03-01 2023-02-28 SC567488 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 SC567488 bus:FullAccounts 2022-03-01 2023-02-28 SC567488 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 SC567488 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
Company registration number: SC567488
LADYBIRD SELF STORAGE LTD
Unaudited filleted financial statements
28 February 2023
LADYBIRD SELF STORAGE LTD
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
LADYBIRD SELF STORAGE LTD
Directors and other information
Director James Brown
Secretary Toni Brown
Company number SC567488
Registered office 24 Macmerry Industrial Estate
Tranent
East Lothian
EH33 1RD
Business address 24 Macmerry Industrial Estate
Macmerry
East Lothian
EH33 1RD
LADYBIRD SELF STORAGE LTD
Statement of financial position
28 February 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 559,231 593,193
_______ _______
559,231 593,193
Current assets
Debtors 6 178,673 226,286
Cash at bank and in hand 385,788 133,268
_______ _______
564,461 359,554
Creditors: amounts falling due
within one year 7 ( 428,663) ( 456,548)
_______ _______
Net current assets/(liabilities) 135,798 ( 96,994)
_______ _______
Total assets less current liabilities 695,029 496,199
_______ _______
Net assets 695,029 496,199
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 694,929 496,099
_______ _______
Shareholder funds 695,029 496,199
_______ _______
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
James Brown
Director
LADYBIRD SELF STORAGE LTD
Statement of changes in equity
Year ended 28 February 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 March 2021 100 290,922 291,022
Profit for the year 205,177 205,177
_______ _______ _______
Total comprehensive income for the year - 205,177 205,177
_______ _______ _______
At 28 February 2022 and 1 March 2022 100 496,099 496,199
Profit for the year 198,830 198,830
_______ _______ _______
Total comprehensive income for the year - 198,830 198,830
_______ _______ _______
At 28 February 2023 100 694,929 695,029
_______ _______ _______
LADYBIRD SELF STORAGE LTD
Notes to the financial statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 24 Macmerry Industrial Estate, Tranent, East Lothian, EH33 1RD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Staff costs
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 125,728 62,314
_______ _______
5. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 March 2022 71,057 651,188 - 9,800 732,045
Additions 33,813 - 1,033 - 34,846
_______ _______ _______ _______ _______
At 28 February 2023 104,870 651,188 1,033 9,800 766,891
_______ _______ _______ _______ _______
Depreciation
At 1 March 2022 - 136,371 - 2,480 138,851
Charge for the year - 66,849 - 1,960 68,809
_______ _______ _______ _______ _______
At 28 February 2023 - 203,220 - 4,440 207,660
_______ _______ _______ _______ _______
Carrying amount
At 28 February 2023 104,870 447,968 1,033 5,360 559,231
_______ _______ _______ _______ _______
At 28 February 2022 71,057 514,817 - 7,320 593,194
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors 178,673 226,286
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 124,332
Corporation tax 68,752 39,396
Other creditors 359,911 292,820
_______ _______
428,663 456,548
_______ _______
8. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2023 2022
£ £
James Brown 278 278
_______ _______