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REGISTERED NUMBER: 13365513 (England and Wales)















SPECIALIST STORAGE PRODUCTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






SPECIALIST STORAGE PRODUCTS LTD (REGISTERED NUMBER: 13365513)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


SPECIALIST STORAGE PRODUCTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Ms H D White





REGISTERED OFFICE: 15-17 Church Street
Stourbridge
West Midlands
DY8 1LU





REGISTERED NUMBER: 13365513 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SPECIALIST STORAGE PRODUCTS LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Specialist Storage Products Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Specialist Storage Products Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Specialist Storage Products Ltd and state those matters that we have agreed to state to the director of Specialist Storage Products Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Specialist Storage Products Ltd and its director for our work or for this report.

It is your duty to ensure that Specialist Storage Products Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Specialist Storage Products Ltd. You consider that Specialist Storage Products Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Specialist Storage Products Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


14 December 2023

SPECIALIST STORAGE PRODUCTS LTD (REGISTERED NUMBER: 13365513)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 120,000 120,000
Tangible assets 5 8,286 2,287
128,286 122,287

CURRENT ASSETS
Stocks 263,000 200,899
Debtors 6 269,278 254,841
Cash at bank 63,530 66,440
595,808 522,180
CREDITORS
Amounts falling due within one year 7 399,564 369,879
NET CURRENT ASSETS 196,244 152,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,530

274,588

CREDITORS
Amounts falling due after more than one year 8 (229,932 ) (229,932 )

PROVISIONS FOR LIABILITIES (2,072 ) (435 )
NET ASSETS 92,526 44,221

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 92,426 44,121
SHAREHOLDERS' FUNDS 92,526 44,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

SPECIALIST STORAGE PRODUCTS LTD (REGISTERED NUMBER: 13365513)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 December 2023 and were signed by:





Ms H D White - Director


SPECIALIST STORAGE PRODUCTS LTD (REGISTERED NUMBER: 13365513)

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


1. STATUTORY INFORMATION

Specialist Storage Products Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net sales of goods/services, excluding value added tax

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SPECIALIST STORAGE PRODUCTS LTD (REGISTERED NUMBER: 13365513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 120,000
NET BOOK VALUE
At 31 March 2023 120,000
At 31 March 2022 120,000

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022 3,050
Additions 8,761
At 31 March 2023 11,811
DEPRECIATION
At 1 April 2022 763
Charge for year 2,762
At 31 March 2023 3,525
NET BOOK VALUE
At 31 March 2023 8,286
At 31 March 2022 2,287

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 269,278 254,841

SPECIALIST STORAGE PRODUCTS LTD (REGISTERED NUMBER: 13365513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 90,000 25,000
Trade creditors 140,824 219,334
Amounts owed to group undertakings 43,170 24,920
Taxation and social security 90,197 43,352
Other creditors 35,373 57,273
399,564 369,879

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 229,932 229,932

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 229,932 229,932

9. RELATED PARTY DISCLOSURES

Bridge Investment Group Limited own all of the ordinary A shares in Specialist Storage Products Limited.