Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3132023-04-01falseNo description of principal activity4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04638949 2023-04-01 2024-03-31 04638949 2022-04-01 2023-03-31 04638949 2024-03-31 04638949 2023-03-31 04638949 2022-04-01 04638949 c:Director1 2023-04-01 2024-03-31 04638949 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 04638949 d:Buildings d:ShortLeaseholdAssets 2024-03-31 04638949 d:Buildings d:ShortLeaseholdAssets 2023-03-31 04638949 d:PlantMachinery 2023-04-01 2024-03-31 04638949 d:PlantMachinery 2024-03-31 04638949 d:PlantMachinery 2023-03-31 04638949 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04638949 d:MotorVehicles 2023-04-01 2024-03-31 04638949 d:MotorVehicles 2024-03-31 04638949 d:MotorVehicles 2023-03-31 04638949 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04638949 d:FurnitureFittings 2023-04-01 2024-03-31 04638949 d:FurnitureFittings 2024-03-31 04638949 d:FurnitureFittings 2023-03-31 04638949 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04638949 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04638949 d:ComputerSoftware 2023-04-01 2024-03-31 04638949 d:ComputerSoftware 2024-03-31 04638949 d:ComputerSoftware 2023-03-31 04638949 d:CurrentFinancialInstruments 2024-03-31 04638949 d:CurrentFinancialInstruments 2023-03-31 04638949 d:Non-currentFinancialInstruments 2024-03-31 04638949 d:Non-currentFinancialInstruments 2023-03-31 04638949 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04638949 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04638949 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04638949 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04638949 d:UKTax 2023-04-01 2024-03-31 04638949 d:UKTax 2022-04-01 2023-03-31 04638949 d:ShareCapital 2024-03-31 04638949 d:ShareCapital 2023-03-31 04638949 d:SharePremium 2024-03-31 04638949 d:SharePremium 2023-03-31 04638949 d:CapitalRedemptionReserve 2024-03-31 04638949 d:CapitalRedemptionReserve 2023-03-31 04638949 d:RetainedEarningsAccumulatedLosses 2024-03-31 04638949 d:RetainedEarningsAccumulatedLosses 2023-03-31 04638949 c:FRS102 2023-04-01 2024-03-31 04638949 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04638949 c:FullAccounts 2023-04-01 2024-03-31 04638949 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04638949 d:WithinOneYear 2024-03-31 04638949 d:WithinOneYear 2023-03-31 04638949 d:BetweenOneFiveYears 2024-03-31 04638949 d:BetweenOneFiveYears 2023-03-31 04638949 d:MoreThanFiveYears 2024-03-31 04638949 d:MoreThanFiveYears 2023-03-31 04638949 6 2023-04-01 2024-03-31 04638949 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 04638949 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04638949 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04638949










STOREGROW LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
STOREGROW LIMITED
REGISTERED NUMBER: 04638949

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
100,428
41,524

Tangible assets
 6 
141,652
170,950

Investments
 7 
33,430
30,150

Current assets
  

Debtors: amounts falling due within one year
 8 
453,124
422,483

Cash at bank and in hand
  
18,315
8,089

  
471,439
430,572

Creditors: amounts falling due within one year
 9 
(453,165)
(395,149)

Net current assets
  
 
 
18,274
 
 
35,423

Total assets less current liabilities
  
293,784
278,047

Creditors: amounts falling due after more than one year
 10 
(12,197)
(22,404)

Provisions for liabilities
  

Deferred tax
 11 
(34,294)
(41,418)

Net assets
  
247,293
214,225


Capital and reserves
  

Called up share capital 
  
960
960

Share premium account
  
19,000
19,000

Capital redemption reserve
  
40
40

Profit and loss account
  
227,293
194,225

  
247,293
214,225


Page 1

 
STOREGROW LIMITED
REGISTERED NUMBER: 04638949
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2024.




R S Sadler
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Storegrow Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 04638949). Its registered office address is Heathfield Down Farmhouse, Modbury, Ivybridge, Devon, PL21 0SU. The principal activity of the Company throughout the year continued to be that of the letting of land for self storage.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation rates used are:

Short term leasehold property
-
straight line over 15 year lease
Plant and machinery
-
20 year straight line
Motor vehicles
-
4 years straight line
Fixtures and fittings
-
3 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. 

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the revaluation model, intangible assets shall be carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent impairment losses - provided that the fair value can be determined by reference to an active market.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the Balance Sheet date.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.8

Valuation of investments

Investments in gold sovereigns and silver are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the year. 


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).

Page 5

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
74,085
59,209


Deferred tax


Origination and reversal of timing differences
(7,124)
6,563

Movement in provisions
-
18

Total deferred tax
(7,124)
6,581


Tax on profit
66,961
65,790

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
330,029
277,689


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
82,507
52,761

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
(15,546)
3,817

Capital allowances for year in excess of depreciation
-
(728)

Other differences leading to an increase (decrease) in the tax charge
-
9,940

Total tax charge for the year
66,961
65,790





Page 6

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets




Cryptocurrency

£



Cost


At 1 April 2023
41,524


Revaluation surplus
58,904



At 31 March 2024

100,428






Net book value



At 31 March 2024
100,428



At 31 March 2023
41,524



Page 7

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost 


At 1 April 2023
126,403
507,782
16,118
28,979
679,282


Additions
-
-
-
2,407
2,407



At 31 March 2024

126,403
507,782
16,118
31,386
681,689



Depreciation


At 1 April 2023
124,090
351,136
14,542
18,564
508,332


Charge for the year on owned assets
135
25,389
1,189
4,992
31,705



At 31 March 2024

124,225
376,525
15,731
23,556
540,037



Net book value



At 31 March 2024
2,178
131,257
387
7,830
141,652



At 31 March 2023
2,313
156,646
1,576
10,415
170,950

Page 8

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Fixed asset investments





Gold and silver

£



Cost or valuation


At 1 April 2023
30,150


Revaluations
3,280



At 31 March 2024
33,430





8.


Debtors

2024
2023
£
£


Trade debtors
43,828
41,552

Other debtors
367,914
368,731

Prepayments and accrued income
41,382
12,200

453,124
422,483



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,226
9,974

Trade creditors
63,391
12,987

Corporation tax
114,990
79,653

Other taxation and social security
33,130
43,525

Other creditors
177,951
190,056

Accruals and deferred income
53,477
58,954

453,165
395,149


Page 9

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,197
22,404



11.


Deferred taxation




2024
2023


£

£






At beginning of year
(41,418)
(34,837)


Charged to profit or loss
7,124
(6,581)



At end of year
(34,294)
(41,418)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
34,294
41,418

34,294
41,418


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,598 (2023 : £1,380). Contributions totalling £148 (2023 : £NIL) were payable to the fund at the Balance Sheet date and are included in creditors.

Page 10

 
STOREGROW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
119,787
119,787

Later than 1 year and not later than 5 years
439,219
479,148

Later than 5 years
-
79,858

559,006
678,793

 
Page 11