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REGISTERED NUMBER: 09236631 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

STORAGE PLANET LTD

STORAGE PLANET LTD (REGISTERED NUMBER: 09236631)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STORAGE PLANET LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Miss E A Edwards
Miss N J Edwards





REGISTERED OFFICE: Unit 6
Headcorn Business Park
Maidstone Road
Headcorn
Kent
TN27 9PJ





REGISTERED NUMBER: 09236631 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

STORAGE PLANET LTD (REGISTERED NUMBER: 09236631)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 263,679 287,577
263,679 287,577

CURRENT ASSETS
Inventories 3,000 7,000
Debtors 6 - 7,493
Cash at bank and in hand 66,867 127,940
69,867 142,433
CREDITORS
Amounts falling due within one year 7 79,479 90,869
NET CURRENT (LIABILITIES)/ASSETS (9,612 ) 51,564
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,067

339,141

CREDITORS
Amounts falling due after more than one
year

8

-

(60,000

)

PROVISIONS FOR LIABILITIES (65,653 ) (54,392 )
NET ASSETS 188,414 224,749

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 188,314 224,649
SHAREHOLDERS' FUNDS 188,414 224,749

STORAGE PLANET LTD (REGISTERED NUMBER: 09236631)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 19 July 2024 and were signed on its behalf by:





Miss E A Edwards - Director


STORAGE PLANET LTD (REGISTERED NUMBER: 09236631)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Storage Planet Ltd 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.

Revenue
Revenue represents the total value, excluding value added tax, of sales earned during the period.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and Straight line over 15 years

Inventories
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

STORAGE PLANET LTD (REGISTERED NUMBER: 09236631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023
and 31 March 2024 20,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 352,239
DEPRECIATION
At 1 April 2023 64,662
Charge for year 23,898
At 31 March 2024 88,560
NET BOOK VALUE
At 31 March 2024 263,679
At 31 March 2023 287,577

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors - 7,493

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 35,051 53,149
Other creditors 44,428 37,720
79,479 90,869

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors - 60,000

STORAGE PLANET LTD (REGISTERED NUMBER: 09236631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. ULTIMATE CONTROLLING PARTY

The controlling party is the Board of Directors by virtue of the directors' shareholdings.