REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31ST DECEMBER 2023 |
FOR |
BEYOND STORAGE GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31ST DECEMBER 2023 |
FOR |
BEYOND STORAGE GROUP LIMITED |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
BEYOND STORAGE GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Director: |
Registered office: |
Registered number: |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
BALANCE SHEET |
31ST DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Share premium |
Retained earnings |
Shareholders' funds |
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. |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
BALANCE SHEET - continued |
31ST DECEMBER 2023 |
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 |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | Statutory information |
Beyond Storage Group Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Beyond Storage Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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 |
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation . |
Depreciation is provided at the following rates on the straight line method in order to write off each asset over its estimated useful life: |
Freehold property | 0% & 2% |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
2. | Accounting policies - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Other financial assets |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities. |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
2. | Accounting policies - continued |
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Other financial liabilities |
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
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. |
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. |
3. | Employees (including officers) |
The average number of employees during the year was |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
4. | Tangible fixed assets |
Freehold |
property |
£ |
Cost |
At 1st January 2023 |
Additions |
At 31st December 2023 |
Depreciation |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
Net book value |
At 31st December 2023 |
At 31st December 2022 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1st January 2023 |
and 31st December 2023 |
Net book value |
At 31st December 2023 |
At 31st December 2022 |
The company's investments at the Balance sheet date in the share capital of companies include the following: |
Registered office: Lower Cleeve Farm, Hom Green, Ross-On-Wye, Herefordshire, HR9 7TD |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
5. | Fixed asset investments - continued |
Registered office: Lower Cleeve Farm, Hom Green, Ross-On-Wye, Herefordshire, HR9 7TD |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves |
Registered office: Lower Cleeve Farm, Hom Green, Ross-On-Wye, Herefordshire, HR9 7TD |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves |
Registered office: Lower Cleeve Farm, Hom Green, Ross-On-Wye, Herefordshire, HR9 7TD |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves |
Registered office: Lower Cleeve Farm, Hom Green, Ross-On-Wye, Herefordshire, HR9 7TD |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
5. | Fixed asset investments - continued |
Registered office: Lower Cleeve Farm, Hom Green, Ross-On-Wye, Herefordshire, HR9 7TD |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 | 31.12.22 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
6. | Debtors: amounts falling due within one year |
31.12.23 | 31.12.22 |
£ | £ |
Amounts owed by group undertakings |
Amounts owed by related parties | - | 2,257 |
VAT | 9 | 3,859 |
Director's loan accounts | 51,124 | 87,854 |
7. | Creditors: amounts falling due within one year |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans & overdrafts |
Amounts owed to group undertakings |
Amounts owed to related parties | 27,714 | 20,000 |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans - two to five years |
Bank loans over five years |
Amounts owed to related parties | 40,000 | 60,000 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans over five years | 286,788 | 297,503 |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
9. | Secured debts |
The bank loan is secured by a fixed and floating charge over the assets of the company. |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: |
Class: |
Nominal value: |
31.12.23 |
31.12.22 |
£ | £ | £ |
230 | Ordinary | 1 | - | 230 |
116 | Ordinary A | 1 | 116 | - |
114 | Ordinary B | 1 | 114 | - |
10 | Ordinary T | 1 | 10 | 10 |
Total | 240 | 240 |
On 20th March 2023 130 Ordinary shares were reclassified as 116 Ordinary A shares & 114 Ordinary B shares. |
11. | Contingent liabilities & lease commitments |
There were no contingent liabilities or lease commitments as at 31st December 2023. |
12. | Director's advances, credits and guarantees |
During the year, the director used a current account with the company to record amounts due to them and amounts drawn by them. Loans and advances totalling £85,778 and repayments of £122,508 were made during the year. The balance at the year end was £51,124 (2022: £87,854) owed to the company. |
The loans and advances were made interest free and were repayable on demand. |
BEYOND STORAGE GROUP LIMITED (REGISTERED NUMBER: 13232664) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
13. | Related party disclosures |
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. |
The following transactions with related parties, on normal commercial terms, took place during the year: |
Loans to/(repaid | ) | Debtor balance | Creditor balance |
£ | £ | £ |
Entities with common key management personnel | 9,971 | - | 7,714 |
Other related parties | (20,000 | ) | - | 60,000 |
£40,000 of the creditor balance is considered to be repayable in more than one year. |