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REGISTERED NUMBER: OC305527 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Adams Selfstore LLP

Adams Selfstore LLP (Registered number: OC305527)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 5


Adams Selfstore LLP

General Information
for the Year Ended 31 December 2023







DESIGNATED MEMBERS: J E Oliver
PM Aspinall
Castle Management LLC





REGISTERED OFFICE: The Swan Centre
4 Higher Swan Lane
Bolton
Lancashire
BL3 3AQ





REGISTERED NUMBER: OC305527 (England and Wales)






Adams Selfstore LLP (Registered number: OC305527)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,451,013 4,593,227

CURRENT ASSETS
Stocks 8,650 12,643
Debtors 5 355,782 453,966
Cash at bank and in hand 1,624,371 1,327,015
1,988,803 1,793,624
CREDITORS
Amounts falling due within one year 6 398,620 478,643
NET CURRENT ASSETS 1,590,183 1,314,981
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,041,196

5,908,208

CREDITORS
Amounts falling due after more than
one year

7

1,764,599

1,875,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

4,276,597

4,033,208

Adams Selfstore LLP (Registered number: OC305527)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,903,597

1,660,208

MEMBERS' OTHER INTERESTS
Capital accounts 2,373,000 2,373,000
4,276,597 4,033,208

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 1,903,597 1,660,208
Members' other interests 2,373,000 2,373,000
Amounts due from members 5 (132,491 ) (198,089 )
4,144,106 3,835,119

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Adams Selfstore LLP (Registered number: OC305527)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 6 April 2024 and were signed by:





J E Oliver - Designated member

Adams Selfstore LLP (Registered number: OC305527)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Adams Selfstore LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Property - 2% on cost
Plant and machinery - 5% reducing balance
Office Equipment - 25% on reducing balance

Stock
Stock is valued at actual purchase price after making allowances for obsolete and slow-moving stocks.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 11 (2022 - 11 ) .

Adams Selfstore LLP (Registered number: OC305527)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Office
Property machinery Equipment Totals
£    £    £    £   
COST
At 1 January 2023 5,742,050 1,535,669 21,279 7,298,998
Additions - 1,914 499 2,413
At 31 December 2023 5,742,050 1,537,583 21,778 7,301,411
DEPRECIATION
At 1 January 2023 1,745,354 939,673 20,744 2,705,771
Charge for year 114,840 29,580 207 144,627
At 31 December 2023 1,860,194 969,253 20,951 2,850,398
NET BOOK VALUE
At 31 December 2023 3,881,856 568,330 827 4,451,013
At 31 December 2022 3,996,696 595,996 535 4,593,227

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 194,234 220,630
Amounts due from members 132,491 198,089
Other debtors 350 -
Prepayments 28,707 35,247
355,782 453,966

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 3,484 31,687
VAT 109,116 98,648
Accruals and deferred income 286,020 348,308
398,620 478,643

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans more than 5 years
non-instalments

1,764,599

1,875,000

Adams Selfstore LLP (Registered number: OC305527)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.23 31.12.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years
non-instalments

1,764,599

1,875,000

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 1,764,599 1,875,000

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

10. RELATED PARTY DISCLOSURES

The amount due from members of £132,491 (2022: £198,089) represents agreed drawings in excess of profit shares to the members that carry out day to day duties for the business. There are no terms agreed with regards to repayment of these sums.