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COMPANY REGISTRATION NUMBER: 09132666
4 Secure Self-Storage Limited
Unaudited financial statements
31 March 2024
4 Secure Self-Storage Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
125,355
145,996
Current assets
Debtors
6
38,952
33,488
Cash at bank and in hand
217,247
188,059
---------
---------
256,199
221,547
Creditors: Amounts falling due within one year
7
( 73,942)
( 80,096)
---------
---------
Net current assets
182,257
141,451
---------
---------
Total assets less current liabilities
307,612
287,447
Provisions
Taxation including deferred tax
( 23,768)
( 28,752)
---------
---------
Net assets
283,844
258,695
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
283,744
258,595
---------
---------
Shareholders funds
283,844
258,695
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 4 August 2024 , and are signed on behalf of the board by:
S F Long
Director
Company registration number: 09132666
4 Secure Self-Storage Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Howlett Way, Thetford, Norfolk, IP24 1HZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
4-20% reducing balance
Motor Vehicles
-
25% straight line
Leasehold Improvements
-
2% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of employees during the year was 5 (2023: 5 ).
5. Tangible assets
Plant and Machinery
Motor Vehicles
Leasehold Improve- ments
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
128,910
38,833
37,079
204,822
---------
-------
-------
---------
Depreciation
At 1 April 2023
38,583
14,709
5,534
58,826
Charge for the year
10,302
9,708
631
20,641
---------
-------
-------
---------
At 31 March 2024
48,885
24,417
6,165
79,467
---------
-------
-------
---------
Carrying amount
At 31 March 2024
80,025
14,416
30,914
125,355
---------
-------
-------
---------
At 31 March 2023
90,327
24,124
31,545
145,996
---------
-------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
11,053
6,066
Other debtors
27,899
27,422
-------
-------
38,952
33,488
-------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
5,575
17,895
Social security and other taxes
63,347
56,798
Other creditors
5,020
5,403
-------
-------
73,942
80,096
-------
-------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
174,000
174,000
---------
---------
9. Contingencies
The company has provided security to Natwest in relation to loans taken out by Mr S F Long , the director of the company. The total liability due in respect of the bank loans as at 31 March 2024 was £2,189,078. No liability is expected to arise from this guarantee.