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COMPANY REGISTRATION NUMBER: 08168058
BEVERLEY 24 HOUR SELF STORE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2023
BEVERLEY 24 HOUR SELF STORE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
BEVERLEY 24 HOUR SELF STORE LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
R Booty
D M Booty
Registered office
10-12 High Street
Barnes
London
SW13 9LW
Accountants
Wilkins Southworth
Chartered Certified Accountants
10-12 High Street
Barnes
London
SW13 9LW
BEVERLEY 24 HOUR SELF STORE LIMITED
STATEMENT OF FINANCIAL POSITION
31 August 2023
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
5
927,847
956,969
CURRENT ASSETS
Stocks
2,290
Debtors
6
551,747
311,552
Cash at bank and in hand
133,651
89,257
-----------
-----------
685,398
403,099
CREDITORS: amounts falling due within one year
7
( 247,967)
( 243,385)
-----------
-----------
NET CURRENT ASSETS
437,431
159,714
--------------
--------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,365,278
1,116,683
CREDITORS: amounts falling due after more than one year
8
( 1,104,825)
( 855,268)
--------------
--------------
NET ASSETS
260,453
261,415
--------------
--------------
CAPITAL AND RESERVES
Called up share capital
104
103
Profit and loss account
260,349
261,312
-----------
-----------
SHAREHOLDERS FUNDS
260,453
261,415
-----------
-----------
These 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 comprehensive income has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BEVERLEY 24 HOUR SELF STORE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 27 February 2025 , and are signed on behalf of the board by:
D M Booty
Director
Company registration number: 08168058
BEVERLEY 24 HOUR SELF STORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10-12 High Street, Barnes, London, SW13 9LW.
2. Statement of compliance
These 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
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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.
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:
Long leasehold property
-
4% straight line
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
The finance element of the rental payment is charged to the income statement on a straight line basis.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 6 ).
5. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Sep 2022
682,736
721,836
18,953
56,733
10,957
1,491,215
Additions
12,341
76,018
2,101
90,460
-----------
-----------
---------
---------
---------
--------------
At 31 Aug 2023
695,077
797,854
18,953
56,733
13,058
1,581,675
-----------
-----------
---------
---------
---------
--------------
Depreciation
At 1 Sep 2022
79,682
426,109
6,452
14,183
7,820
534,246
Charge for the year
17,098
88,661
1,875
10,638
1,310
119,582
-----------
-----------
---------
---------
---------
--------------
At 31 Aug 2023
96,780
514,770
8,327
24,821
9,130
653,828
-----------
-----------
---------
---------
---------
--------------
Carrying amount
At 31 Aug 2023
598,297
283,084
10,626
31,912
3,928
927,847
-----------
-----------
---------
---------
---------
--------------
At 31 Aug 2022
603,054
295,727
12,501
42,550
3,137
956,969
-----------
-----------
---------
---------
---------
--------------
6. Debtors
2023
2022
£
£
Trade debtors
43,304
26,516
Other debtors
508,443
285,036
-----------
-----------
551,747
311,552
-----------
-----------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
120,960
92,137
Trade creditors
13,451
83,526
Social security and other taxes
1,928
1,599
Other creditors
111,628
66,123
-----------
-----------
247,967
243,385
-----------
-----------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
877,150
648,212
Other creditors
227,675
207,056
--------------
-----------
1,104,825
855,268
--------------
-----------
9. Directors' advances
The following is a summary of the directors' transactions with the company during the year.
£
Balance b/fwd as at 1 September 2022 139,240
Amount advanced 89,709
Interest charged 4,078
-----------
Balance due to the company as at 31 August 2023 233,027
-----------
The above loans are unsecured and repayable on demand.