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REGISTERED NUMBER: 06831577 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

InnerSpaces Self Storage Limited

InnerSpaces Self Storage Limited (Registered number: 06831577)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


InnerSpaces Self Storage Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R Hampson





REGISTERED OFFICE: Moore
6th Floor
Whitefriars, Lewins Mead
Bristol
BS1 2NT





REGISTERED NUMBER: 06831577 (England and Wales)





ACCOUNTANTS: Moore
Chartered Accountants
6th Floor
Whitefriars
Lewins Mead
Bristol
BS1 2NT

InnerSpaces Self Storage Limited (Registered number: 06831577)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,092 41,047
37,092 41,047

CURRENT ASSETS
Stocks 3,300 3,720
Debtors 6 108,170 87,923
Cash at bank and in hand 26,903 100,799
138,373 192,442
CREDITORS
Amounts falling due within one year 7 114,717 152,126
NET CURRENT ASSETS 23,656 40,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,748

81,363

PROVISIONS FOR LIABILITIES 8 4,079 4,079
NET ASSETS 56,669 77,284

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 56,569 77,184
SHAREHOLDERS' FUNDS 56,669 77,284

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 director acknowledges his 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.

InnerSpaces Self Storage Limited (Registered number: 06831577)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 21 August 2024 and were signed by:





R Hampson - Director


InnerSpaces Self Storage Limited (Registered number: 06831577)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

InnerSpaces Self Storage 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Equipment - 33% 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.


InnerSpaces Self Storage Limited (Registered number: 06831577)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,217
AMORTISATION
At 1 April 2023
and 31 March 2024 30,217
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

InnerSpaces Self Storage Limited (Registered number: 06831577)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 27,641 3,155 90,265 11,789 132,850
Additions - - 3,470 - 3,470
At 31 March 2024 27,641 3,155 93,735 11,789 136,320
DEPRECIATION
At 1 April 2023 8,292 2,536 70,157 10,818 91,803
Charge for year 3,248 154 3,537 486 7,425
At 31 March 2024 11,540 2,690 73,694 11,304 99,228
NET BOOK VALUE
At 31 March 2024 16,101 465 20,041 485 37,092
At 31 March 2023 19,349 619 20,108 971 41,047

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 53,488 52,632
Other debtors - 783
Prepayments and accrued income 54,682 34,508
108,170 87,923

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Payments on account 48,464 59,411
Trade creditors 19,361 28,617
Tax 24,945 29,352
Social security and other taxes 2,551 2,175
VAT 5,952 12,683
Other creditors 410 -
Accrued expenses 13,034 19,888
114,717 152,126

InnerSpaces Self Storage Limited (Registered number: 06831577)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 4,079 4,079

Deferred
tax
£   
Balance at 1 April 2023 4,079
Balance at 31 March 2024 4,079

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 77,184
Profit for the year 79,385
Dividends (100,000 )
At 31 March 2024 56,569

11. RELATED PARTY DISCLOSURES

The company is controlled by the director who owns 75% of the issued share capital.