Registered number
11983929
Tamworth Self Storage Limited
Filleted Accounts
31 May 2024
Tamworth Self Storage Limited
Registered number: 11983929
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 367,949 181,074
Current assets
Debtors 4 37,788 27,837
Cash at bank and in hand 270,166 124,820
307,954 152,657
Creditors: amounts falling due within one year 5 (557,507) (319,388)
Net current liabilities (249,553) (166,731)
Net assets 118,396 14,343
Capital and reserves
Called up share capital 100 100
Profit and loss account 118,296 14,243
Shareholders' funds 118,396 14,343
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.
J Rogers
Director
Approved by the board on 3 February 2025
Tamworth Self Storage Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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:
Land and buildings over 10 years
Plant and machinery over 10 years
Office equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Office equipment Total
£ £ £ £
Cost
At 1 June 2023 65,759 177,554 691 244,004
Additions 7,794 207,101 326 215,221
At 31 May 2024 73,553 384,655 1,017 459,225
Depreciation
At 1 June 2023 16,778 45,872 280 62,930
Charge for the year 6,997 21,147 202 28,346
At 31 May 2024 23,775 67,019 482 91,276
Net book value
At 31 May 2024 49,778 317,636 535 367,949
At 31 May 2023 48,981 131,682 411 181,074
4 Debtors 2024 2023
£ £
Trade debtors 3,083 6,250
Other debtors 34,705 21,587
37,788 27,837
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 33,528 14,998
Taxation and social security costs (23,393) 11,035
Other creditors 547,372 293,355
557,507 319,388
6 Other information
Tamworth Self Storage Limited is a private company limited by shares and incorporated in England. Its registered office is:
102 Tettenhall Road
Wolverhampton
WV6 0BW
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