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REGISTERED NUMBER: 08913552 (England and Wales)









Oakenholt Selfstorage Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Oakenholt Selfstorage Limited (Registered number: 08913552)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oakenholt Selfstorage Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: D Lawlor
Mrs L Lawlor





REGISTERED OFFICE: Bwthyn
Foel Gron
Bagillt
CH6 6BB





REGISTERED NUMBER: 08913552 (England and Wales)





ACCOUNTANTS: Henry R. Davis & Co. Limited
Chartered Accountants
33 Chester Road West
Queensferry
Deeside
Flintshire
CH5 1SA

Oakenholt Selfstorage Limited (Registered number: 08913552)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,695 47,033
Investment property 5 250,000 250,000
294,695 297,033

CURRENT ASSETS
Debtors 6 17,825 19,163
Cash at bank and in hand 17,441 5,066
35,266 24,229
CREDITORS
Amounts falling due within one year 7 71,452 75,664
NET CURRENT LIABILITIES (36,186 ) (51,435 )
TOTAL ASSETS LESS CURRENT LIABILITIES 258,509 245,598

PROVISIONS FOR LIABILITIES 33,651 33,651
NET ASSETS 224,858 211,947

CAPITAL AND RESERVES
Called up share capital 3 3
Fair value reserve 9 109,570 109,570
Retained earnings 115,285 102,374
224,858 211,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Oakenholt Selfstorage Limited (Registered number: 08913552)

Balance Sheet - continued
29 February 2024


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 29 November 2024 and were signed on its behalf by:





Mrs L Lawlor - Director


Oakenholt Selfstorage Limited (Registered number: 08913552)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Oakenholt Selfstorage 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - at variable rates on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Oakenholt Selfstorage Limited (Registered number: 08913552)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 88,766
Additions 12,560
At 29 February 2024 101,326
DEPRECIATION
At 1 March 2023 41,733
Charge for year 14,898
At 29 February 2024 56,631
NET BOOK VALUE
At 29 February 2024 44,695
At 28 February 2023 47,033

5. INVESTMENT PROPERTY

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in the Income Statement in the period they arise.

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2020 80,000
Valuation in 2022 25,000
Valuation in 2023 29,285
Cost 115,715
250,000

If historical cost had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 115,000 115,000

Investment property was valued on an open market basis on 6 November 2024 by Mr and Mrs Lawlor .

Oakenholt Selfstorage Limited (Registered number: 08913552)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS
29.2.24 28.2.23
£    £   
Amounts falling due within one year:
Trade debtors 3,845 4,183

Amounts falling due after more than one year:
Other debtors 13,980 14,980

Aggregate amounts 17,825 19,163

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 56,217 62,143
Taxation and social security 3,577 2,351
Other creditors 11,658 11,170
71,452 75,664

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank Loans - 56,666

The loan is secured against the investment property and other assets.

9. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 109,570

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs Lawlor.

11. LOANS

A bank loan amounting to £3,499 relates to a loan provided under the Bounce Back Loan Scheme. This
scheme provides the lender with a government-backed guarantee (100%) against the outstanding facility
balance (principal and interest). No interest is payable in the first 12 months. Interest is then charged at 2.5%
per annum.