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Registered Number: 05587468
England and Wales

 

 

 

EASY ACCESS SELF STORAGE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 31 October 2022

End date: 30 October 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2,652,984    2,697,809 
2,652,984    2,697,809 
Current assets      
Stocks 5,500    5,500 
Debtors 792,410    772,096 
Cash at bank and in hand 2,422    123,366 
800,332    900,962 
Creditors: amount falling due within one year (795,733)   (631,408)
Net current assets 4,599    269,554 
 
Total assets less current liabilities 2,657,583    2,967,363 
Creditors: amount falling due after more than one year (1,654,545)   (1,859,874)
Provisions for liabilities (1,301)   (108,788)
Net assets 1,001,737    998,701 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 1,001,637    998,601 
Shareholders' funds 1,001,737    998,701 
 


For the year ended 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 01 July 2024 and were signed on its behalf by:


-------------------------------
Bernard Bailey
Director
1
General Information
Easy Access Self Storage Limited is a private company, limited by shares, registered in England and Wales, registration number 05587468, registration address Oldmoor Road, Bredbury, Stockport, SK6 2QE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over 10 years during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold properties 10% Straight Line
Plant and Machinery 4% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Leasehold properties   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 31 October 2022 2,252,121    616,430    66,577    385,403    3,320,531 
Additions     5,833    44,014    49,847 
Disposals        
At 30 October 2023 2,252,121    616,430    72,410    429,417    3,370,378 
Depreciation
At 31 October 2022 62,583    252,773    21,931    285,435    622,722 
Charge for year 10,687    24,657    11,283    48,045    94,672 
On disposals        
At 30 October 2023 73,270    277,430    33,214    333,480    717,394 
Net book values
Closing balance as at 30 October 2023 2,178,851    339,000    39,196    95,937    2,652,984 
Opening balance as at 31 October 2022 2,189,538    363,657    44,646    99,968    2,697,809 

The net book value of Leasehold properties includes £ 33,596 (2022 £44,283) in respect of assets leased under finance leases or hire purchase contracts.

4.

Share Capital

Authorised
85 Class A shares of £1.00 each
5 Class B shares of £1.00 each
5 Class C shares of £1.00 each
5 Class D shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
85 Class A shares of £1.00 each 85    85 
5 Class B shares of £1.00 each  
5 Class C shares of £1.00 each  
5 Class D shares of £1.00 each  
100    100 

2