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REGISTERED NUMBER: 14589576 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 12 JANUARY 2023 TO 31 MARCH 2024

FOR

STORAGE (GLOUCESTER) LTD

STORAGE (GLOUCESTER) LTD (REGISTERED NUMBER: 14589576)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 12 January 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STORAGE (GLOUCESTER) LTD

COMPANY INFORMATION
for the Period 12 January 2023 to 31 March 2024







DIRECTORS: M P Wilson
A J Wood





REGISTERED OFFICE: Flexiss Group Lower Meadow Road
Handforth
Wilmslow
SK9 3ND





REGISTERED NUMBER: 14589576 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

STORAGE (GLOUCESTER) LTD (REGISTERED NUMBER: 14589576)

BALANCE SHEET
31 March 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 4,013,949

CURRENT ASSETS
Debtors 5 166,860
Cash at bank 129,206
296,066
CREDITORS
Amounts falling due within one year 6 4,469,159
NET CURRENT LIABILITIES (4,173,093 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(159,144

)

CREDITORS
Amounts falling due after more than one
year

7

88,911
NET LIABILITIES (248,055 )

CAPITAL AND RESERVES
Called up share capital 100
Share premium 10,989
Retained earnings (259,144 )
(248,055 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

STORAGE (GLOUCESTER) LTD (REGISTERED NUMBER: 14589576)

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 Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:





M P Wilson - Director


STORAGE (GLOUCESTER) LTD (REGISTERED NUMBER: 14589576)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 12 January 2023 to 31 March 2024

1. STATUTORY INFORMATION

Storage (Gloucester) Ltd 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.

The company is dependent on the continuing support, both financial and management, of it's directors and shareholders, who have confirmed their intention to do so for the coming 12 months.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost

Tangible fixed assets are recorded at cost less depreciation and any impairment. Depreciation is provided once assets are in use.

Impairment of assets
At each reporting date 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 profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.
Amounts due to and from related undertakings, included directors, are repayable on demand and are measured at the undiscounted amount due. Other liabilities shall be measured at amortised cost using the effective interest rate.

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.


STORAGE (GLOUCESTER) LTD (REGISTERED NUMBER: 14589576)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 12 January 2023 to 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 4,013,949
At 31 March 2024 4,013,949
NET BOOK VALUE
At 31 March 2024 4,013,949

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 166,860

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other loans 3,895,271
Trade creditors 363,961
Other creditors 209,927
4,469,159

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other loans 88,911

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other loans 3,895,271

Other loans are secured by way of a debenture, together with a legal charge over the property.

STORAGE (GLOUCESTER) LTD (REGISTERED NUMBER: 14589576)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 12 January 2023 to 31 March 2024

9. 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.

During the period the directors have been paid interest amounting to £13,659 on funds introduced to the company. These funds have been repaid in full.
Included in Other loans is £38,961 due to the directors. Interest is accruing at 8%.