REGISTERED NUMBER: |
JUMBO SELF STORAGE LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
REGISTERED NUMBER: |
JUMBO SELF STORAGE LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
JUMBO SELF STORAGE LIMITED (REGISTERED NUMBER: 04931394) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 29 February 2024 |
Page |
Abridged Balance Sheet | 1 | to | 2 |
Notes to the Financial Statements | 3 | to | 5 |
JUMBO SELF STORAGE LIMITED (REGISTERED NUMBER: 04931394) |
ABRIDGED BALANCE SHEET |
29 February 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
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. |
JUMBO SELF STORAGE LIMITED (REGISTERED NUMBER: 04931394) |
ABRIDGED BALANCE SHEET - continued |
29 February 2024 |
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 |
JUMBO SELF STORAGE LIMITED (REGISTERED NUMBER: 04931394) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Jumbo Self Storage Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis. No material uncertainties that may cast significant doubt about the ability of the company to continue to trade as a going concern have been identified by the directors. |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
JUMBO SELF STORAGE LIMITED (REGISTERED NUMBER: 04931394) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 29 February 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 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. |
Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. |
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. |
Rentals paid under operating leases are charged to income on as incurred over the lease term. |
Pension costs and other post-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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | SECURED DEBTS |
The British Arab Commercial Bank Plc have fixed and floating charges over the company's assets. |
JUMBO SELF STORAGE LIMITED (REGISTERED NUMBER: 04931394) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 29 February 2024 |
6. | OTHER FINANCIAL COMMITMENTS |
The company has future operating lease commitments of £699,683 (2023: £714,896) in respect of rent. |
The company has future operating lease commitments of £22,617 (2023: £30,600) in respect of vehicle leases. |
7. | 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. |
There have been no material transactions with any related parties, other than those with the directors. |
8. | ULTIMATE CONTROLLING PARTY |
Cedrus Storage Limited own 100% of the company's share capital. Cedrus Storage Limited is controlled by the directors. |