Company registration number 10811479 (England and Wales)
SELF STORAGE CONCIERGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SELF STORAGE CONCIERGE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SELF STORAGE CONCIERGE LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
30 November 2023
31 May 2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
12,224
Tangible assets
5
381,379
398,130
381,379
410,354
Current assets
Stocks
560
988
Debtors
6
49,507
58,763
Cash at bank and in hand
27,353
47,371
77,420
107,122
Creditors: amounts falling due within one year
7
(731,353)
(784,600)
Net current liabilities
(653,933)
(677,478)
Total assets less current liabilities
(272,554)
(267,124)
Creditors: amounts falling due after more than one year
8
-
0
(7,626)
Provisions for liabilities
(2,485)
(2,485)
Net liabilities
(275,039)
(277,235)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(275,139)
(277,335)
Total equity
(275,039)
(277,235)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SELF STORAGE CONCIERGE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 August 2024 and are signed on its behalf by:
M Coath
Director
Company Registration No. 10811479
SELF STORAGE CONCIERGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Self Storage Concierge Limited is a private company limited by shares incorporated in England and Wales. The registered office is James Taylor House, St. Albans Road East, Hertford, Hatfield, Hertfordshire, United Kingdom, AL10 0HE.

1.1
Reporting period

The company has changed its accounting reference to 30 November 2023 to be consistent with the the year ends of other companies in the group. These financial statements therefore cover the period from 1 May 2022 to 30 November 2023. The prior year figures are for 12 months and therefore will not be comparable to the current reporting period as it is over 18 months.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The financial statements have been prepared on the going concern basis, notwithstanding net liabilities oftrue £275,039 (2022: £277,235) which the directors believe to be appropriate for the following reason. The company is reliant for its working capital on funds provided to it by it's parent company (and other companies within the group), which has provided the company with an undertaking that it will continue to make available such funds as are needed by the company and in particular will not seek repayment of the amounts currently made available.

 

This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. Based on this understanding the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

1.4
Turnover

Turnover relates to income earned from the provision of management services and is recognised upon the delivery of services.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
5 years straight line
SELF STORAGE CONCIERGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
Over the life of the lease
Plant and equipment
20% Straight line
Fixtures and fittings
20% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting date, tangible fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SELF STORAGE CONCIERGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against future taxable profits or against the reversal of deferred tax liabilities.

 

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

1.10
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.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no significant judgements or estimates in the preparation of these financial statements.

SELF STORAGE CONCIERGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
2
9
4
Intangible fixed assets
Other
£
Cost
At 1 June 2022 and 30 November 2023
61,121
Amortisation and impairment
At 1 June 2022
48,897
Amortisation charged for the period
12,224
At 30 November 2023
61,121
Carrying amount
At 30 November 2023
-
0
At 31 May 2022
12,224
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2022 and 30 November 2023
420,000
35,056
455,056
Depreciation and impairment
At 1 June 2022
34,255
22,671
56,926
Depreciation charged in the period
8,936
7,815
16,751
At 30 November 2023
43,191
30,486
73,677
Carrying amount
At 30 November 2023
376,809
4,570
381,379
At 31 May 2022
385,745
12,385
398,130
SELF STORAGE CONCIERGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 7 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
11,959
13,351
Amounts owed by group undertakings
-
0
3,600
Other debtors
37,548
41,812
49,507
58,763
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
9,508
28,580
Amounts owed to group undertakings
670,012
721,646
Taxation and social security
9,825
4,347
Other creditors
42,008
30,027
731,353
784,600

Amounts owed to pension funds of £188 are included in other creditors (2022: £424).

8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
-
0
7,626
9
Operating lease commitments
Lessee

At 30 Nov 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £5,231,287 (2022: £5,328,787).

 

The prior year figure has been restated due to a change in methodology.

10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11
Ultimate parent company
The directors regard James Taylor Group Limited as the ultimate parent company. The registered office of James Taylor Group Limited is James Taylor House, St Albans Road East, Hatfield, Hertfordshire, AL10 0HE.
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