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REGISTERED NUMBER: 09998711 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

PINK SELF STORAGE LIMITED

PINK SELF STORAGE LIMITED (REGISTERED NUMBER: 09998711)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PINK SELF STORAGE LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Evans
Miss L Furlong





SECRETARY:





REGISTERED OFFICE: Unit 11
Coopers Terrace
Ystrad Mynach
Rhondda Cynon Taff
CF82 7EP





REGISTERED NUMBER: 09998711 (England and Wales)





ACCOUNTANTS: James de Frias
Chartered Accountants
Llanover House
Llanover Road
Pontypridd
Rhondda Cynon Taff
CF37 4DY

PINK SELF STORAGE LIMITED (REGISTERED NUMBER: 09998711)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,333 43,333
Tangible assets 5 3,547,740 1,834,770
3,571,073 1,878,103

CURRENT ASSETS
Debtors 6 720,062 388,763
Cash at bank and in hand 200,436 214,784
920,498 603,547
CREDITORS
Amounts falling due within one year 7 1,135,593 383,176
NET CURRENT (LIABILITIES)/ASSETS (215,095 ) 220,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,355,978

2,098,474

CREDITORS
Amounts falling due after more than one
year

8

(1,378,783

)

(653,689

)

PROVISIONS FOR LIABILITIES (466,860 ) (348,606 )
NET ASSETS 1,510,335 1,096,179

CAPITAL AND RESERVES
Called up share capital 105 105
Revaluation reserve 9 525,690 525,690
Retained earnings 984,540 570,384
SHAREHOLDERS' FUNDS 1,510,335 1,096,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

PINK SELF STORAGE LIMITED (REGISTERED NUMBER: 09998711)

Balance Sheet - continued
31 December 2023


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 28 November 2024 and were signed on its behalf by:





S Evans - Director


PINK SELF STORAGE LIMITED (REGISTERED NUMBER: 09998711)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Pink Self Storage Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on reducing balance
Plant and machinery - 10% on reducing balance
Computer equipment - 33% on cost and 25% on cost

The Director have considered the current depreciation policy and deemed this to be too aggressive and not in line with residual and used 2nd hand pricing.
The Director has therefore changed the following depreciation policies:

Leasehold Improvements from 20% Straight Line to 20% Reducing Balance.

Plant and Machinery from 25% Straight Line to 10% Reducing Balance.

To reflect a more market approach to the value of the Companies assets.

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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PINK SELF STORAGE LIMITED (REGISTERED NUMBER: 09998711)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 100,000
AMORTISATION
At 1 January 2023 56,667
Charge for year 20,000
At 31 December 2023 76,667
NET BOOK VALUE
At 31 December 2023 23,333
At 31 December 2022 43,333

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and Computer
property leasehold machinery equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2023 135,000 665,226 1,450,339 16,503 2,267,068
Additions - 297,486 1,801,987 9,233 2,108,706
At 31 December 2023 135,000 962,712 3,252,326 25,736 4,375,774
DEPRECIATION
At 1 January 2023 - 151,509 276,830 3,959 432,298
Charge for year - 131,132 258,928 5,676 395,736
At 31 December 2023 - 282,641 535,758 9,635 828,034
NET BOOK VALUE
At 31 December 2023 135,000 680,071 2,716,568 16,101 3,547,740
At 31 December 2022 135,000 513,717 1,173,509 12,544 1,834,770

Included in cost or valuation of land and buildings is freehold land of £ 135,000 (2022 - £ 135,000 ) which is not depreciated.

During the year the Company transferred Nil (2022: 123) Containers from "Hire" to "Ownership", at the cost of the final hire charge.

Included within the fixed assets above, the following net book value of assets are held under finance £2,081,195.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 87,176 74,110
Other debtors 632,886 314,653
720,062 388,763

PINK SELF STORAGE LIMITED (REGISTERED NUMBER: 09998711)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 510,870 119,885
Other creditors 614,723 253,291
1,135,593 383,176

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 19,270 29,039
Other creditors 1,359,513 624,650
1,378,783 653,689

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 525,690

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
S Evans
Balance outstanding at start of year 160,488 237,950
Amounts advanced 354,100 292,538
Amounts repaid (70,000 ) (370,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 444,588 160,488

11. ULTIMATE CONTROLLING PARTY

The controlling party is S Evans.

The ultimate controlling party is S Evans.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Pink Self Storage Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pink Self Storage Limited for the year ended 31 December 2023 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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






James de Frias
Chartered Accountants
Llanover House
Llanover Road
Pontypridd
Rhondda Cynon Taff
CF37 4DY


28 November 2024