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Registered number: 08321074
Secure Storage (South Yorkshire) Limited
Unaudited Financial Statements
For The Year Ended 27 December 2023
Access Accounts Services Ltd
Office 11 Navigation Business Centre
Mill Gate
Newark
Nottinghamshire
NG24 4TS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08321074
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 315,934 347,761
315,934 347,761
CURRENT ASSETS
Debtors 6 32,373 43,238
Cash at bank and in hand 51,501 26,369
83,874 69,607
Creditors: Amounts Falling Due Within One Year 7 (384,798 ) (411,090 )
NET CURRENT ASSETS (LIABILITIES) (300,924 ) (341,483 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,010 6,278
NET ASSETS 15,010 6,278
CAPITAL AND RESERVES
Called up share capital 8 20 20
Profit and Loss Account 14,990 6,258
SHAREHOLDERS' FUNDS 15,010 6,278
Page 1
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For the year ending 27 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Matthew Topham
Director
16 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Secure Storage (South Yorkshire) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08321074 . The registered office is Unit 5 Moor Lane, Aubourn, Lincoln, LN5 9DX.
2. Accounting Policies
2.1. 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.
2.2. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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:
Leasehold 5% straight line
Plant & Machinery 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.5. 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 years 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 assets reflect 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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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 28 December 2022 62,871
As at 27 December 2023 62,871
Amortisation
As at 28 December 2022 62,871
As at 27 December 2023 62,871
Net Book Value
As at 27 December 2023 -
As at 28 December 2022 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 28 December 2022 312,220 205,141 44,355 6,524 568,240
Additions - 5,474 - 3,874 9,348
As at 27 December 2023 312,220 210,615 44,355 10,398 577,588
Depreciation
As at 28 December 2022 70,247 125,736 19,568 4,928 220,479
Provided during the period 15,611 21,316 3,718 530 41,175
As at 27 December 2023 85,858 147,052 23,286 5,458 261,654
Net Book Value
As at 27 December 2023 226,362 63,563 21,069 4,940 315,934
As at 28 December 2022 241,973 79,405 24,787 1,596 347,761
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 500
Prepayments and accrued income 2,654 11,654
Other debtors 11,094 13,599
Amounts owed by other participating interests 18,625 17,485
32,373 43,238
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,177 940
Corporation tax 5,875 2,672
Other taxes and social security 25,799 21,234
Other creditors 1,167 1,206
Accruals and deferred income 199,108 184,038
Directors' loan accounts 149,672 201,000
384,798 411,090
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20 20
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