IRIS Accounts Productionv24.1.4.3309341666Board of Directors1.1.2331.12.2331.12.23truefalsetruefalsefalsefalsetruefalseOrdinary A1.00000Preference shares1.00000Ordinary B1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093416662022-12-31093416662023-12-31093416662023-01-012023-12-31093416662021-12-31093416662022-01-012022-12-31093416662022-12-3109341666ns15:EnglandWales2023-01-012023-12-3109341666ns14:PoundSterling2023-01-012023-12-3109341666ns10:Director12023-01-012023-12-3109341666ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109341666ns10:SmallEntities2023-01-012023-12-3109341666ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3109341666ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109341666ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109341666ns10:FullAccounts2023-01-012023-12-310934166612023-01-012023-12-3109341666ns10:OrdinaryShareClass12023-01-012023-12-3109341666ns10:OrdinaryShareClass22023-01-012023-12-3109341666ns10:OrdinaryShareClass32023-01-012023-12-3109341666ns10:Director22023-01-012023-12-3109341666ns10:CompanySecretary12023-01-012023-12-3109341666ns10:RegisteredOffice2023-01-012023-12-3109341666ns5:CurrentFinancialInstruments2023-12-3109341666ns5:CurrentFinancialInstruments2022-12-3109341666ns5:Non-currentFinancialInstruments2023-12-3109341666ns5:Non-currentFinancialInstruments2022-12-3109341666ns5:ShareCapital2023-12-3109341666ns5:ShareCapital2022-12-3109341666ns5:RevaluationReserve2023-12-3109341666ns5:RevaluationReserve2022-12-3109341666ns5:CapitalRedemptionReserve2023-12-3109341666ns5:CapitalRedemptionReserve2022-12-3109341666ns5:RetainedEarningsAccumulatedLosses2023-12-3109341666ns5:RetainedEarningsAccumulatedLosses2022-12-3109341666ns5:NetGoodwill2023-01-012023-12-3109341666ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3109341666ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3109341666ns5:PlantMachinery2023-01-012023-12-3109341666ns5:FurnitureFittings2023-01-012023-12-3109341666ns5:ComputerEquipment2023-01-012023-12-3109341666ns5:NetGoodwill2022-12-3109341666ns5:NetGoodwill2023-12-3109341666ns5:NetGoodwill2022-12-3109341666ns5:LandBuildings2022-12-3109341666ns5:LeaseholdImprovements2022-12-3109341666ns5:PlantMachinery2022-12-3109341666ns5:LandBuildings2023-01-012023-12-3109341666ns5:LeaseholdImprovements2023-01-012023-12-3109341666ns5:LandBuildings2023-12-3109341666ns5:LeaseholdImprovements2023-12-3109341666ns5:PlantMachinery2023-12-3109341666ns5:LandBuildings2022-12-3109341666ns5:LeaseholdImprovements2022-12-3109341666ns5:PlantMachinery2022-12-3109341666ns5:FurnitureFittings2022-12-3109341666ns5:ComputerEquipment2022-12-3109341666ns5:FurnitureFittings2023-12-3109341666ns5:ComputerEquipment2023-12-3109341666ns5:FurnitureFittings2022-12-3109341666ns5:ComputerEquipment2022-12-3109341666ns5:CostValuation2022-12-3109341666ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3109341666ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109341666ns10:OrdinaryShareClass12023-12-3109341666ns10:OrdinaryShareClass22023-12-3109341666ns10:OrdinaryShareClass32023-12-3109341666ns5:RetainedEarningsAccumulatedLosses2022-12-3109341666ns5:RevaluationReserve2022-12-3109341666ns5:CapitalRedemptionReserve2022-12-3109341666ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31

REGISTERED NUMBER: 09341666 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR


MS SELF STORAGE LIMITED



MS SELF STORAGE LIMITED (REGISTERED NUMBER: 09341666)



CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023











Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





MS SELF STORAGE LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023









DIRECTORS:

S W Williams


M A Williams







SECRETARY:

M A Williams







REGISTERED OFFICE:

Westbury Badgers Holt


Storrington


Pulborough


West Sussex


RH20 3ET







REGISTERED NUMBER:

09341666 (England and Wales)







ACCOUNTANTS:

Crowe U.K. LLP


Riverside House


40-46 High Street


Maidstone


Kent


ME14 1JH



MS SELF STORAGE LIMITED (REGISTERED NUMBER: 09341666)



BALANCE SHEET

31 DECEMBER 2023



2023

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

4

166,470


293,154



Tangible assets

5

3,925,896


3,987,695



Investments

6

2,867,297


2,867,297



6,959,663


7,148,146




CURRENT ASSETS

Stocks

7,511


4,612



Debtors

7

3,410,818


3,431,434



Cash at bank

1,317,795


882,794



4,736,124


4,318,840



CREDITORS

Amounts falling due within one year

8

2,144,267


1,175,249



NET CURRENT ASSETS

2,591,857


3,143,591



TOTAL ASSETS LESS CURRENT

LIABILITIES

9,551,520


10,291,737




CREDITORS

Amounts falling due after more than one

year

9

(82,945

)

(603,275

)



PROVISIONS FOR LIABILITIES

(326,898

)

(336,555

)


NET ASSETS

9,141,677


9,351,907




CAPITAL AND RESERVES

Called up share capital

10

4,500,184


4,500,184



Revaluation reserve

11

623,200


623,200



Capital redemption reserve

11

799,816


799,816



Retained earnings

11

3,218,477


3,428,707



SHAREHOLDERS' FUNDS

9,141,677


9,351,907




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


The members have not required the company to obtain an audit of its financial statements for the year 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.



MS SELF STORAGE LIMITED (REGISTERED NUMBER: 09341666)



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 Income Statement has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:






M A Williams - Director




MS SELF STORAGE LIMITED (REGISTERED NUMBER: 09341666)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023



1.

STATUTORY INFORMATION



MS 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.


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 as modified by the revaluation of certain assets.    



Going concern


Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive cash and shareholder reserves.



Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.



Related party exemption


The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.



Turnover

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


Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its useful life of 10 years.


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.  


Freehold property

-

2% on cost


Plant and machinery

-

25% on reducing balance


Fixtures and fittings

-

15% on cost


Office equipment

-

15% on cost



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.



MS SELF STORAGE LIMITED (REGISTERED NUMBER: 09341666)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023



2.

ACCOUNTING POLICIES - continued


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.


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


Short term debtors are measured at transaction price, less impairment.



Cash and cash equivalents


Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.  Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.



Financial instruments


The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.



Creditors


Short term creditors are measured at the transaction price.



Financial reporting standard 102 - reduced disclosure exemptions


The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":


- the requirements of Section 7 Statement of Cash Flows;


- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);


- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;


- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;


- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;


- the requirements of Section 33 Related Party Disclosures paragraph 33.7.


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 6 (2022 - 6 ) .



MS SELF STORAGE LIMITED (REGISTERED NUMBER: 09341666)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023



4.

INTANGIBLE FIXED ASSETS


Goodwill

£   



COST


At 1 January 2023


and 31 December 2023

1,266,845




AMORTISATION


At 1 January 2023

973,691




Charge for year

126,684




At 31 December 2023

1,100,375




NET BOOK VALUE


At 31 December 2023

166,470




At 31 December 2022

293,154




5.

TANGIBLE FIXED ASSETS


Improvements



Freehold


to


Plant and


property


property


machinery

£   

£   

£   



COST OR VALUATION


At 1 January 2023

3,517,858


749,289


92,828




Additions

-


-


-




At 31 December 2023

3,517,858


749,289


92,828




DEPRECIATION


At 1 January 2023

260,366


42,454


74,755




Charge for year

46,511


13,942


4,519




At 31 December 2023

306,877


56,396


79,274




NET BOOK VALUE


At 31 December 2023

3,210,981


692,893


13,554




At 31 December 2022

3,257,492


706,835


18,073





Fixtures



and


Office



fittings


equipment


Totals

£   

£   

£   



COST OR VALUATION


At 1 January 2023

296,791


10,832


4,667,598




Additions

300


4,445


4,745




At 31 December 2023

297,091


15,277


4,672,343




DEPRECIATION


At 1 January 2023

296,285


6,043


679,903




Charge for year

260


1,312


66,544




At 31 December 2023

296,545


7,355


746,447




NET BOOK VALUE


At 31 December 2023

546


7,922


3,925,896




At 31 December 2022

506


4,789


3,987,695





MS SELF STORAGE LIMITED (REGISTERED NUMBER: 09341666)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023



5.

TANGIBLE FIXED ASSETS - continued



Cost or valuation at 31 December 2023 is represented by:



Improvements



Freehold


to


Plant and


property


property


machinery

£   

£   

£   



Valuation in 2015

747,572


-


-




Cost

2,770,286


749,289


92,828



3,517,858


749,289


92,828





Fixtures



and


Office



fittings


equipment


Totals

£   

£   

£   



Valuation in 2015

-


-


747,572




Cost

297,091


15,277


3,924,771



297,091


15,277


4,672,343




6.

FIXED ASSET INVESTMENTS


Other


investments

£   



COST


At 1 January 2023


and 31 December 2023

2,867,297




NET BOOK VALUE


At 31 December 2023

2,867,297




At 31 December 2022

2,867,297




7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Trade debtors

26,149


14,022




Amounts owed by group undertakings

3,358,859


3,414,115




Other debtors

25,810


3,297



3,410,818


3,431,434




8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Trade creditors

15,121


-




Amounts owed to group undertakings

1,714,886


831,780




Taxation and social security

204,266


163,011




Other creditors

209,994


180,458



2,144,267


1,175,249




9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR


2023

2022


£   

£   



Other creditors

82,945


603,275





MS SELF STORAGE LIMITED (REGISTERED NUMBER: 09341666)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023



10.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2023

2022



value:

£   

£   



56

Ordinary A

£1.00

56


56




4,500,000

Preference shares

£1.00

4,500,000


4,500,000




128

Ordinary B

£1.00

128


128



4,500,184


4,500,184




Only Ordinary A shares have voting rights.

During the prior year, the company repurchased and cancelled 799,800 preference shares.

11.

RESERVES


Capital



Retained


Revaluation


redemption



earnings


reserve


reserve


Totals

£   

£   

£   

£   




At 1 January 2023

3,428,707


623,200


799,816


4,851,723




Profit for the year

604,541


604,541




Dividends

(814,771

)

(814,771

)



At 31 December 2023

3,218,477


623,200


799,816


4,641,493




12.

PENSION COMMITMENTS


The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charged represents contributions payable by the company to the fund and amounted to £13,566 (2022: £12,563). At the balance sheet date, outstanding contributions amounted to £1,631 (2022: £930).

13.

CONTROLLING PARTY



The company is controlled by its directors by virtue of their shareholdings.