REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
J28 Self Storage Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
J28 Self Storage Limited |
J28 Self Storage Limited (Registered number: 09159100) |
Contents of the Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
J28 Self Storage Limited |
Company Information |
for the Period 1 January 2023 to 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
J28 Self Storage Limited (Registered number: 09159100) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
J28 Self Storage Limited (Registered number: 09159100) |
Notes to the Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
J28 Self Storage Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Taxation |
Taxation for the period 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. |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
J28 Self Storage Limited (Registered number: 09159100) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
J28 Self Storage Limited (Registered number: 09159100) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 24,852 | 11,632 |
Other creditors |
Loan a/c: Alexandria | 501,066 | 612,610 |
Directors' current accounts | 5,101 | 1,336 |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2022 |
£ | £ |
Within one year |
Between one and five years |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2022 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Credit to Income Statement during period | ( |
) |
Balance at 31 March 2024 |
Deferred taxation relates to accelerated capital allowances and has been calculated using the corporation tax rate of 25%. |
10. | OTHER FINANCIAL COMMITMENTS |
The company along with K & M Developments South West Ltd is subject to a cross guarantee and right of set off in respect of bank loans of £1.8M to Alexandria Properties LLP. |
11. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £1,667 (2022 - £3,333) were paid to the directors . |
J28 Self Storage Limited (Registered number: 09159100) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
11. | RELATED PARTY DISCLOSURES - continued |
Alexandria Properties LLP |
A business in which two of the directors are members. |
Included in creditors are balances of £501,066 (2022 : £705,885) due to Alexandria Properties LLP. |
The company rents one of its premises from Alexandria Properties LLP at an annual rent of £65,000 (2022: £65,000). |
Management charges receivable of £30,000 (2022: £24,000) were included in the profit and loss account from Alexandria Properties LLP in the period. Included in debtors is £74,270 (2022: £45,500) due to the company. |
The company along with K & M Developments South West Ltd is subject to a cross guarantee and right of set off in respect of bank loans of £1.8M to Alexandria Properties LLP. |
K & M Developments South West Ltd |
A business under common control. |
Included in creditors is a balance of £37,000 to K & M Developments South West Ltd (2022: £20,000). |