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UK STORAGE SOLUTIONS LTD

Registered Number
SC604199
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2023

UK STORAGE SOLUTIONS LTD
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

HASTIE, Alistair William Park
HASTIE, Helen Evelyn

Registered Address

19 John Parker Avenue
Irvine
KA11 4FE

Registered Number

SC604199 (Scotland)
UK STORAGE SOLUTIONS LTD
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,4902,317
2,4902,317
Current assets
Debtors172,730238,486
Cash at bank and on hand74,50211,935
247,232250,421
Creditors amounts falling due within one year5(214,562)(232,901)
Net current assets (liabilities)32,67017,520
Total assets less current liabilities35,16019,837
Creditors amounts falling due after one year6(47,783)(68,160)
Accruals and deferred income-(52)
Net assets(12,623)(48,375)
Capital and reserves
Called up share capital22
Profit and loss account(12,625)(48,377)
Shareholders' funds(12,623)(48,375)
The financial statements were approved and authorised for issue by the Board of Directors on 20 February 2024, and are signed on its behalf by:
HASTIE, Alistair William Park
Director
Registered Company No. SC604199
UK STORAGE SOLUTIONS LTD
Notes to the Financial Statements
for the year ended 31 August 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Office Equipment4
2.Average number of employees

20232022
Average number of employees during the year44
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 224,869
Additions1,573
At 31 August 236,442
Depreciation and impairment
At 01 September 222,552
Charge for year1,400
At 31 August 233,951
Net book value
At 31 August 232,490
At 31 August 222,317
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables131,806220,769
Other debtors40,92417,717
Total172,730238,486
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables152,906196,163
Bank borrowings and overdrafts21,78023,597
Taxation and social security39,87613,141
Total214,562232,901
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts47,78368,160
Total47,78368,160