Company registration number 05915396 (England and Wales)
ARDEN SELF STORAGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ARDEN SELF STORAGE LIMITED
COMPANY INFORMATION
Directors
Mr F R Cookes
Executors of R M Cookes Deceased
Secretary
Executors of R M Cookes Deceased
Company number
05915396
Registered office
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Accountants
Ellacotts LLP
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
ARDEN SELF STORAGE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
ARDEN SELF STORAGE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ARDEN SELF STORAGE LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arden Self Storage Limited for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Arden Self Storage Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Arden Self Storage Limited and state those matters that we have agreed to state to the board of directors of Arden Self Storage Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arden Self Storage Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Arden Self Storage Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arden Self Storage Limited. You consider that Arden Self Storage Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Arden Self Storage Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ellacotts LLP
Chartered Accountants
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Date:
10 September 2024
ARDEN SELF STORAGE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,054,405
2,111,838
Current assets
Stocks
1,048
2,910
Debtors
4
106,993
108,157
Cash at bank and in hand
75,989
394
184,030
111,461
Creditors: amounts falling due within one year
5
(475,688)
(544,202)
Net current liabilities
(291,658)
(432,741)
Total assets less current liabilities
1,762,747
1,679,097
Provisions for liabilities
(114,807)
(119,123)
Net assets
1,647,940
1,559,974
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,647,840
1,559,874
Total equity
1,647,940
1,559,974

For the financial year ended 31 March 2024 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 of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 August 2024 and are signed on its behalf by:
Mr F R Cookes
Director
Company registration number 05915396 (England and Wales)
ARDEN SELF STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Arden Self Storage Limited is a private company limited by shares incorporated in England and Wales. The registered office is Countrywide House, 23 West Bar, Banbury, Oxfordshire, England, OX16 9SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
No depreciation
Building improvements
5% Reducing balance
Plant and machinery
20% Reducing balance
Solar panels
4% Straight line
Motor vehicles
25% Reducing balance

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

ARDEN SELF STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
ARDEN SELF STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Freehold property
Building improvements
Plant and machinery
Solar panels
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
1,040,563
939,575
589,593
601,506
33,500
3,204,737
Additions
-
0
-
0
31,854
-
0
7,500
39,354
Disposals
-
0
-
0
(4,500)
-
0
-
0
(4,500)
At 31 March 2024
1,040,563
939,575
616,947
601,506
41,000
3,239,591
Depreciation and impairment
At 1 April 2023
-
0
436,231
442,157
206,240
8,271
1,092,899
Depreciation charged in the year
-
0
25,165
34,958
23,982
8,182
92,287
At 31 March 2024
-
0
461,396
477,115
230,222
16,453
1,185,186
Carrying amount
At 31 March 2024
1,040,563
478,179
139,832
371,284
24,547
2,054,405
At 31 March 2023
1,040,563
503,344
147,436
395,266
25,229
2,111,838
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
40,183
34,339
Other debtors
66,810
73,818
106,993
108,157
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
110,976
Trade creditors
9,887
13,544
Corporation tax
113,676
80,200
Other taxation and social security
24,526
27,520
Other creditors
327,599
311,962
475,688
544,202

Bank loans and overdrafts falling due within one year amounting to £nil (2023 - £110,976) are secured by a fixed and floating charge over the assets of the company.

ARDEN SELF STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Directors' transactions

Dividends totalling £189,000 (2023 - £106,000) were paid in the year in respect of shares held by the company's directors.

As at 31 March 2024, the directors owed the company £57,661. The loans were repaid within 9 months after the year end. Arden Self Storage Limited charges interest at the HM Revenue & Customs official rate of interest of 2.25% on overdrawn directors' loan account balances.

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