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REGISTERED NUMBER: 05001136 (England and Wales)





















LOC-BOX SELF STORAGE LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2023 TO 31 DECEMBER 2023






LOC-BOX SELF STORAGE LIMITED (REGISTERED NUMBER: 05001136)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


LOC-BOX SELF STORAGE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 DECEMBER 2023







DIRECTORS: J W Matts
G F W Matts





REGISTERED OFFICE: The Office
Grooms Lane
Creaton
Northamptonshire
NN6 8NN





REGISTERED NUMBER: 05001136 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

LOC-BOX SELF STORAGE LIMITED (REGISTERED NUMBER: 05001136)

BALANCE SHEET
31 DECEMBER 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,082,064 2,128,856

CURRENT ASSETS
Debtors 5 74,291 28,864
Cash at bank 51,975 157,402
126,266 186,266
CREDITORS
Amounts falling due within one year 6 549,884 623,144
NET CURRENT LIABILITIES (423,618 ) (436,878 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,658,446 1,691,978

CREDITORS
Amounts falling due after more than one
year

7

(271,637

)

(416,314

)

PROVISIONS FOR LIABILITIES (334,804 ) (330,638 )
NET ASSETS 1,052,005 945,026

CAPITAL AND RESERVES
Called up share capital 9 3,507 3,507
Retained earnings 1,048,498 941,519
SHAREHOLDERS' FUNDS 1,052,005 945,026

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

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

The directors acknowledge their 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.

LOC-BOX SELF STORAGE LIMITED (REGISTERED NUMBER: 05001136)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:





J W Matts - Director


LOC-BOX SELF STORAGE LIMITED (REGISTERED NUMBER: 05001136)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 DECEMBER 2023


1. STATUTORY INFORMATION

Loc-Box Self Storage Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land - not provided
Short leasehold improvements - Straight line over 6 years
Office - Straight line over 10 years
Plant and equipment - Straight line over 6 years
Storage containers - 3% - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

No depreciation is provided on the freehold land as this is not required under FRS102.

Taxation
Taxation for the period 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 period 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.

LOC-BOX SELF STORAGE LIMITED (REGISTERED NUMBER: 05001136)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Short
leasehold Plant and
Land improvements Office equipment
£    £    £    £   
COST
At 1 February 2023 327,830 4,776 37,950 509,573
Additions - - - 111,985
At 31 December 2023 327,830 4,776 37,950 621,558
DEPRECIATION
At 1 February 2023 - 4,776 1,265 296,830
Charge for period - - 3,479 72,704
At 31 December 2023 - 4,776 4,744 369,534
NET BOOK VALUE
At 31 December 2023 327,830 - 33,206 252,024
At 31 January 2023 327,830 - 36,685 212,743

LOC-BOX SELF STORAGE LIMITED (REGISTERED NUMBER: 05001136)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Storage Motor Computer
containers vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 2,154,147 19,700 38,257 3,092,233
Additions 48,100 - - 160,085
At 31 December 2023 2,202,247 19,700 38,257 3,252,318
DEPRECIATION
At 1 February 2023 636,176 4,068 20,262 963,377
Charge for period 120,930 3,556 6,208 206,877
At 31 December 2023 757,106 7,624 26,470 1,170,254
NET BOOK VALUE
At 31 December 2023 1,445,141 12,076 11,787 2,082,064
At 31 January 2023 1,517,971 15,632 17,995 2,128,856


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 38,266 24,854
Other debtors - 186
Prepayments and accrued income 36,025 3,824
74,291 28,864

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts 23,333 23,333
Hire purchase contracts (see note 8) 193,009 219,710
Trade creditors 7,469 32,748
Accruals and deferred income 118,886 153,727
Corporation tax 115,093 109,407
Social security and other taxes 7,390 5,354
VAT 20,947 55,538
Other creditors 8,495 2,189
Directors' current accounts 55,262 21,138
549,884 623,144

LOC-BOX SELF STORAGE LIMITED (REGISTERED NUMBER: 05001136)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Bank loans - 2-5 years 73,255 107,120
Bank loans more 5 yr by instal 116,401 98,620
Hire purchase contracts (see note 8) 81,981 210,574
271,637 416,314

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 116,401 98,620

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2023
£    £   
Net obligations repayable:
Within one year 193,009 219,710
Between one and five years 81,981 210,574
274,990 430,284

Non-cancellable operating leases
2023 2023
£    £   
Within one year 299,500 229,500
Between one and five years 998,000 768,000
In more than five years 4,015,000 2,794,500
5,312,500 3,792,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2023
value: £    £   
3,507 Ordinary £1 3,507 3,507