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REGISTERED NUMBER: 02432138 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STORAGE SOLUTION LIMITED

STORAGE SOLUTION LIMITED (REGISTERED NUMBER: 02432138)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STORAGE SOLUTION 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: 02432138 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH

STORAGE SOLUTION LIMITED (REGISTERED NUMBER: 02432138)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,452 2,587

CURRENT ASSETS
Stocks 5 1,626 1,580
Debtors 6 2,189,077 1,269,950
Cash at bank 278,316 453,823
2,469,019 1,725,353
CREDITORS
Amounts falling due within one year 7 1,203,932 1,033,696
NET CURRENT ASSETS 1,265,087 691,657
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,266,539

694,244

PROVISIONS FOR LIABILITIES 157 358
NET ASSETS 1,266,382 693,886

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 1,265,382 692,886
SHAREHOLDERS' FUNDS 1,266,382 693,886

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.

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


STORAGE SOLUTION LIMITED (REGISTERED NUMBER: 02432138)

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


1. STATUTORY INFORMATION

Storage Solution 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Office equipment - 20% 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.

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.

STORAGE SOLUTION LIMITED (REGISTERED NUMBER: 02432138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

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.

Government Grants
Grants relate to amounts received under the Government Job Retention Scheme and Rates Relief and are accounted for on an accruals basis. These are recognised in the Income Statement as other operating income.

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 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 5,599 102,946 5,049 113,594
DEPRECIATION
At 1 January 2023 5,262 102,946 2,799 111,007
Charge for year 337 - 798 1,135
At 31 December 2023 5,599 102,946 3,597 112,142
NET BOOK VALUE
At 31 December 2023 - - 1,452 1,452
At 31 December 2022 337 - 2,250 2,587

STORAGE SOLUTION LIMITED (REGISTERED NUMBER: 02432138)

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


5. STOCKS
2023 2022
£    £   
Stocks 1,626 1,580

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,793 24,550
Amounts owed by group undertakings 2,155,695 1,234,195
Other debtors 9,589 11,205
2,189,077 1,269,950

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 767,394 658,044
Taxation and social security 157,491 129,012
Other creditors 279,047 246,640
1,203,932 1,033,696

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1.00 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 January 2023 692,886
Profit for the year 572,496
At 31 December 2023 1,265,382

10. 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 £2,236 (2022: £3,234). At the balance sheet date, outstanding contributions amounted to £483 (2022: £472).

11. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The company's immediate parent company is Make Space Self Storage Limited, a company registered in England and Wales, by virtue of it's direct shareholding. The ultimate controlling party is MS Self Storage Limited.