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Registered number: 07953988
Bath Self Storage Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Chippendale and Clark
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07953988
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 123,325 142,006
123,325 142,006
CURRENT ASSETS
Debtors 4 12,845 9,394
Cash at bank and in hand 130,626 127,276
143,471 136,670
Creditors: Amounts Falling Due Within One Year 5 (57,116 ) (52,990 )
NET CURRENT ASSETS (LIABILITIES) 86,355 83,680
TOTAL ASSETS LESS CURRENT LIABILITIES 209,680 225,686
Creditors: Amounts Falling Due After More Than One Year 6 (21,216 ) (34,503 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,853 ) (16,736 )
NET ASSETS 173,611 174,447
CAPITAL AND RESERVES
Called up share capital 8 110 110
Profit and Loss Account 173,501 174,337
SHAREHOLDERS' FUNDS 173,611 174,447
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 John Perry
Director
23/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 10 Years Straight Line
Plant & Machinery 10 Years Straight Line
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
1.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2022: 3)
3 3
3. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 17,262 218,423 26,109 10,497 272,291
Additions - 4,150 - 765 4,915
Disposals - - - (1,339 ) (1,339 )
As at 31 December 2023 17,262 222,573 26,109 9,923 275,867
Depreciation
As at 1 January 2023 3,452 116,857 6,527 3,449 130,285
Provided during the period 1,727 14,637 4,896 1,469 22,729
Disposals - - - (472 ) (472 )
As at 31 December 2023 5,179 131,494 11,423 4,446 152,542
Net Book Value
As at 31 December 2023 12,083 91,079 14,686 5,477 123,325
As at 1 January 2023 13,810 101,566 19,582 7,048 142,006
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,506 4,180
Prepayments and accrued income 3,104 3,866
Net wages - 1,000
Director's loan account 7,887 -
12,497 9,046
Due after more than one year
Other debtors 348 348
348 348
12,845 9,394
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5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,795 3,795
Trade creditors 1,195 6,814
Bank loans and overdrafts 9,492 9,258
Corporation tax 10,030 -
Other taxes and social security - 1,466
VAT 8,728 5,182
Other creditors - 5,378
Accruals and deferred income 23,876 20,304
Director's loan account - 793
57,116 52,990
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 5,693 9,488
Bank loans 15,523 25,015
21,216 34,503
7. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The maturity of these amounts is as follows:
Within one year 3,795 3,795
Between one and five years 5,693 9,488
9,488 13,283
9,488 13,283
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 110 110
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr John Perry - 7,866 - - 7,866
The above loan is unsecured, interest free and repayable on demand.
10. General Information
Bath Self Storage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07953988 . The registered office is 7/8 Avon Reach Monkton Hill, Chippenham, Wiltshire, SN15 1EE.
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