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COMPANY REGISTRATION NUMBER: 03326371
We R Storage Limited
Filleted Unaudited Abridged Financial Statements
30 April 2024
We R Storage Limited
Abridged Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
425,464
647,180
Current assets
Debtors
128,159
28,167
Cash at bank and in hand
224,554
92,082
---------
---------
352,713
120,249
Creditors: amounts falling due within one year
11,047
9,664
---------
---------
Net current assets
341,666
110,585
---------
---------
Total assets less current liabilities
767,130
757,765
---------
---------
Net assets
767,130
757,765
---------
---------
We R Storage Limited
Abridged Statement of Financial Position (continued)
30 April 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
422,002
422,002
Profit and loss account
345,128
335,763
---------
---------
Shareholders funds
767,130
757,765
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 10 January 2025 , and are signed on behalf of the board by:
M C W Shirlaw
Director
Company registration number: 03326371
We R Storage Limited
Notes to the Abridged Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Station Road, Wimborne, BH21 1RG, England.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year excluding value added tax.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
10% / 25% reducing balance
(f) Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
£
Cost
At 1 May 2023
650,036
Additions
341
Disposals
( 221,660)
---------
At 30 April 2024
428,717
---------
Depreciation
At 1 May 2023
2,856
Charge for the year
397
---------
At 30 April 2024
3,253
---------
Carrying amount
At 30 April 2024
425,464
---------
At 30 April 2023
647,180
---------
In the opinion of the directors the value of the companies investment properties are fairly stated above .
6. Director's advances, credits and guarantees
At the year end £127,200 was owed by the director (2023 - £27,391). This was repaid after the year end.