Registered number
11025873
Simply Storage - Dangerfield Co Ltd
Report and Accounts
30 September 2024
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Simply Storage - Dangerfield Co Ltd
Registered number: 11025873
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 46,964 29,177
Current assets
Stocks 2,500 2,000
Debtors 4 30 -
Cash at bank and in hand 117,543 66,886
120,073 68,886
Creditors: amounts falling due within one year 5 (82,588) (58,040)
Net current assets 37,485 10,846
Total assets less current liabilities 84,449 40,023
Creditors: amounts falling due after more than one year 6 (44,093) (17,783)
Provisions for liabilities (10,975) (6,376)
Net assets 29,381 15,864
Capital and reserves
Called up share capital 100 100
Profit and loss account 29,281 15,764
Shareholders' funds 29,381 15,864
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ricky Dangerfield
Director
Approved by the board on 4 October 2024
Simply Storage - Dangerfield Co Ltd
Notes to the Accounts
for the period from 1 November 2023 to 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% straight line
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 39,844 - 39,844
Additions - 39,458 39,458
At 30 September 2024 39,844 39,458 79,302
Depreciation
At 1 November 2023 10,667 - 10,667
Charge for the period 11,806 9,865 21,671
At 30 September 2024 22,473 9,865 32,338
Net book value
At 30 September 2024 17,371 29,593 46,964
At 31 October 2023 29,177 - 29,177
4 Debtors 2024 2023
£ £
Other debtors 30 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,600 2,600
Obligations under finance lease and hire purchase contracts 9,721 5,281
Trade creditors 3,092 3,286
Corporation tax 17,840 7,802
Other taxes and social security costs 931 9,749
Other creditors 48,404 29,322
82,588 58,040
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 42,360 13,667
Other creditors 1,733 4,116
44,093 17,783
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