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Registered number: 05325014
U Storeall Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
AGM Financial Ltd
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05325014
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 222,480 175,781
222,480 175,781
CURRENT ASSETS
Stocks 11,287 8,736
Debtors 5 58,415 37,402
Cash at bank and in hand 217,591 201,725
287,293 247,863
Creditors: Amounts Falling Due Within One Year 6 (102,237 ) (67,756 )
NET CURRENT ASSETS (LIABILITIES) 185,056 180,107
TOTAL ASSETS LESS CURRENT LIABILITIES 407,536 355,888
NET ASSETS 407,536 355,888
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 407,436 355,788
SHAREHOLDERS' FUNDS 407,536 355,888
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Shufflebotham
Director
26 July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
U Storeall Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05325014 . The registered office is Cheerbrook Farm, Newcastle Road, Willaston, Nantwich, Cheshire, CW5 7EL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 5% Straight line
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2023 79,153 122,350 159,551 361,054
Additions 16,863 45,371 27,000 89,234
As at 31 March 2024 96,016 167,721 186,551 450,288
...CONTINUED
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Page 4
Depreciation
As at 1 April 2023 23,704 63,128 98,441 185,273
Provided during the period 4,801 15,707 22,027 42,535
As at 31 March 2024 28,505 78,835 120,468 227,808
Net Book Value
As at 31 March 2024 67,511 88,886 66,083 222,480
As at 1 April 2023 55,449 59,222 61,110 175,781
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 37,071 16,058
Prepayments and accrued income 21,344 21,344
58,415 37,402
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,131 1,964
Corporation tax 28,850 11,368
VAT 15,502 17,550
Other creditors 33,564 34,684
Accruals and deferred income 20,600 1,600
Directors' loan accounts 590 590
102,237 67,756
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Ultimate Controlling Party
The company is controlled by its Directors
Page 4