Waterpark Storage Limited |
Registered number: |
05094452 |
Balance Sheet |
as at 30 April 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
17,932 |
|
|
20,450 |
|
Current assets |
Debtors |
4 |
|
2,572 |
|
|
4,747 |
Cash at bank and in hand |
|
|
23,783 |
|
|
29,278 |
|
|
|
26,355 |
|
|
34,025 |
|
Creditors: amounts falling due within one year |
5 |
|
(16,426) |
|
|
(17,902) |
|
Net current assets |
|
|
|
9,929 |
|
|
16,123 |
|
Total assets less current liabilities |
|
|
|
27,861 |
|
|
36,573 |
|
|
Provisions for liabilities |
|
|
|
(1,726) |
|
|
(2,440) |
|
|
Net assets |
|
|
|
26,135 |
|
|
34,133 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
26,035 |
|
|
34,033 |
|
Shareholder's funds |
|
|
|
26,135 |
|
|
34,133 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his 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. |
|
|
|
|
Alex Oram |
Director |
Approved by the board on 20 January 2025 |
|
Waterpark Storage Limited |
Notes to the Accounts |
for the year ended 30 April 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS102) and the Companies Act 2006 (as applicable to companies subject to the small company regime). The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all year presented unless otherwise stated. |
|
|
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 rental of storage facilities and related ancillary services and the sale of goods. Turnover from the rental of storage facilities is recognised over the period of the rental agreement on a straight line basis. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. When the outcome of a transaction can be estimated reliably 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. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
|
|
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: |
|
|
Equipment and fittings |
25% straight line |
|
Security, access and lighting systems |
10% straight line |
|
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), 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. 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. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Equipment and fittings |
|
Security, access and lighting systems |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 May 2023 |
6,901 |
|
24,337 |
|
31,238 |
|
Additions |
558 |
|
- |
|
558 |
|
At 30 April 2024 |
7,459 |
|
24,337 |
|
31,796 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2023 |
5,914 |
|
4,874 |
|
10,788 |
|
Charge for the year |
636 |
|
2,440 |
|
3,076 |
|
At 30 April 2024 |
6,550 |
|
7,314 |
|
13,864 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2024 |
909 |
|
17,023 |
|
17,932 |
|
At 30 April 2023 |
987 |
|
19,463 |
|
20,450 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
1,615 |
|
2,713 |
|
Other debtors |
957 |
|
2,034 |
|
|
|
|
|
|
2,572 |
|
4,747 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
6,496 |
|
5,507 |
|
Other creditors |
9,930 |
|
12,395 |
|
|
|
|
|
|
16,426 |
|
17,902 |
|
|
|
|
|
|
|
|
|
|
6 |
Related party transactions |
|
|
The director has lent various amounts, interest free, to the company during the year. The property the company operates from is rented from the director. Rent paid in the year amounted to £30,000.(2023- £30,000). The amount due to the director at 30th April 2024 was £6,144. (2023- £8,298). |
|
|
7 |
Other information |
|
|
Waterpark Storage Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
4 Ermin Way Barns |
|
The Street |
|
Latton |
|
Nr Cricklade |
|
SN6 6DN |