Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Miss L.G.R. Overy 18/04/2017 16 July 2024 The principal activity of the Company during the financial year was container storage and sales of containers. 10726526 2024-04-30 10726526 bus:Director1 2024-04-30 10726526 2023-04-30 10726526 core:CurrentFinancialInstruments 2024-04-30 10726526 core:CurrentFinancialInstruments 2023-04-30 10726526 core:Non-currentFinancialInstruments 2024-04-30 10726526 core:Non-currentFinancialInstruments 2023-04-30 10726526 core:ShareCapital 2024-04-30 10726526 core:ShareCapital 2023-04-30 10726526 core:RetainedEarningsAccumulatedLosses 2024-04-30 10726526 core:RetainedEarningsAccumulatedLosses 2023-04-30 10726526 core:PlantMachinery 2023-04-30 10726526 core:Vehicles 2023-04-30 10726526 core:PlantMachinery 2024-04-30 10726526 core:Vehicles 2024-04-30 10726526 bus:OrdinaryShareClass1 2024-04-30 10726526 bus:OrdinaryShareClass2 2024-04-30 10726526 2023-05-01 2024-04-30 10726526 bus:FilletedAccounts 2023-05-01 2024-04-30 10726526 bus:SmallEntities 2023-05-01 2024-04-30 10726526 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10726526 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10726526 bus:Director1 2023-05-01 2024-04-30 10726526 core:PlantMachinery 2023-05-01 2024-04-30 10726526 core:Vehicles 2023-05-01 2024-04-30 10726526 2022-05-01 2023-04-30 10726526 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 10726526 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 10726526 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 10726526 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10726526 (England and Wales)

TWO COUNTY STORAGE SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

TWO COUNTY STORAGE SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

TWO COUNTY STORAGE SOLUTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
TWO COUNTY STORAGE SOLUTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR Miss L.G.R. Overy
REGISTERED OFFICE 57 Great Fen Road
Soham
Ely
Cambridgeshire
CB7 5UH
United Kingdom
BUSINESS ADDRESS Station Yard
Station Road
Fordham
Ely
Cambridgeshire
United Kingdom
CB7 5LW
COMPANY NUMBER 10726526 (England and Wales)
ACCOUNTANT Corbett Accountants Limited
Bakersfield
82 Station Road
Soham
Ely
Cambridgeshire
CB7 5DZ
TWO COUNTY STORAGE SOLUTIONS LIMITED

BALANCE SHEET

As at 30 April 2024
TWO COUNTY STORAGE SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 79,087 94,659
79,087 94,659
Current assets
Debtors 4 14,234 12,011
Cash at bank and in hand 37,288 52,191
51,522 64,202
Creditors: amounts falling due within one year 5 ( 161,611) ( 99,448)
Net current liabilities (110,089) (35,246)
Total assets less current liabilities (31,002) 59,413
Creditors: amounts falling due after more than one year 6 ( 4,951) ( 9,626)
Provision for liabilities 7 ( 15,027) ( 17,985)
Net (liabilities)/assets ( 50,980) 31,802
Capital and reserves
Called-up share capital 8 500 500
Profit and loss account ( 51,480 ) 31,302
Total shareholders' (deficit)/funds ( 50,980) 31,802

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Two County Storage Solutions Limited (registered number: 10726526) were approved and authorised for issue by the Director on 16 July 2024. They were signed on its behalf by:

Miss L.G.R. Overy
Director
TWO COUNTY STORAGE SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
TWO COUNTY STORAGE SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Two County Storage Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 57 Great Fen Road, Soham, Ely, Cambridgeshire, CB7 5UH, United Kingdom. The principal place of business is Station Yard, Station Road, Fordham, Ely, Cambridgeshire, United Kingdom, CB7 5LW.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 May 2023 161,428 12,500 173,928
Additions 4,200 0 4,200
At 30 April 2024 165,628 12,500 178,128
Accumulated depreciation
At 01 May 2023 76,769 2,500 79,269
Charge for the financial year 17,772 2,000 19,772
At 30 April 2024 94,541 4,500 99,041
Net book value
At 30 April 2024 71,087 8,000 79,087
At 30 April 2023 84,659 10,000 94,659

4. Debtors

2024 2023
£ £
Trade debtors 13,234 7,110
Other debtors 1,000 4,901
14,234 12,011

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 4,632 4,620
Trade creditors 0 2,242
Amounts owed to director 60,999 70,929
Other loans 4,320 10,320
Other taxation and social security 10,332 4,762
Other creditors 81,328 6,575
161,611 99,448

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,951 9,626

7. Provision for liabilities

2024 2023
£ £
Deferred tax 15,027 17,985

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
260 A ordinary shares of £ 1.00 each 260 260
240 B ordinary shares of £ 1.00 each 240 240
500 500

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Dividends were paid in the year in respect of shares held by the company's director. 0 13,000
The director charged the company during the year for use of office. 1,800 1,500
Included in creditors is a director's loan. The loan is interest free and there are no repayment terms. 60,999 70,929