REGISTERED NUMBER: |
KELLYS SELF STORAGE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
REGISTERED NUMBER: |
KELLYS SELF STORAGE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
KELLYS SELF STORAGE LIMITED (REGISTERED NUMBER: 06588011) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 6 |
KELLYS SELF STORAGE LIMITED |
COMPANY INFORMATION |
for the year ended 30 September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Ashbourne House |
The Guildway |
Old Portsmouth Road |
Guildford |
Surrey |
GU3 1LR |
KELLYS SELF STORAGE LIMITED (REGISTERED NUMBER: 06588011) |
BALANCE SHEET |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
KELLYS SELF STORAGE LIMITED (REGISTERED NUMBER: 06588011) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Kellys Self Storage Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
On the 30 September 2023, the trade and assets of the company were transferred to two other 100% owned subsidiaries in the "Kellys" group being, Kellys Storage Limited and Spaceways Storage Limited. The company is dormant from this date and therefore the results for the year ended 30 September 2023 were treated as discontinued operations. |
Preparation of consolidated financial statements |
The financial statements contain information about Kellys Self Storage Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover in the prior year was recognised to the extent that it was probable that the economic benefits would flow to the Company and the revenue could be reliably measured. Turnover was measured at the fair value of the consideration received or receivable on self storage and associated services, excluding value added tax. |
Other income |
Other operating income related to dividends received from subsidiary companies and bank interest received on deposits. |
Investments in subsidiaries |
Investments in subsidiary companies are initially recorded at cost, being the fair value of the consideration given and including acquisition costs associated with the investment. The investments are reviewed for impairment on an annual basis and provision is made where there has been a permanent diminution in their value. |
Financial instruments |
Financial instruments are classified by directors as basic or non-basic following the conditions on FRS102 Section 11. Basic financial instruments are initially measured at transaction price and subsequently recognised at amortised cost using the effective interest method. The company does not have any financial non-basic instruments. |
Taxation |
Taxation for the prior year comprised of current and deferred tax. Tax was recognised in the Statement of Income and Retained Earnings, except to the extent that it related 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. |
KELLYS SELF STORAGE LIMITED (REGISTERED NUMBER: 06588011) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax was recognised in respect of all timing differences that had originated but were not reversed at the balance sheet date. |
Timing differences arose from the inclusion of income and expenses in tax assessments in periods different from those in which they were recognised in the financial statements. Deferred tax was measured using tax rates and laws that had been enacted or substantively enacted by the year end and that were expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets were recognised only to the extent that it was probable that they would be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operated a defined contribution pension scheme. Contributions payable to the company's pension scheme were charged to the Statement of Income and Retained Earnings in the period to which they related. |
Operating leases |
Rentals paid under operating leases were charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
Shares in group undertakings represents the investments in Chappells Storage Solutions Limited, The Archive Centre Limited and in Woodend Removals Limited. All are 100% subsidiaries of Kellys Self Storage Limited. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
KELLYS SELF STORAGE LIMITED (REGISTERED NUMBER: 06588011) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2024 |
6. | SECURED DEBTS |
Barclays Bank PLC hold a fixed charge over all assets held by Kellys Self Storage Limited. A floating charge is also held over all assets not secured by the fixed charge together with a negative pledge. |
There are also cross guarantees and debentures held by Barclays Bank between the entities in the table below. These relate to a debt owed by Henry Walter Martin Limited, a company owned and controlled by The Martin Family Trust of which P R Martin is a beneficiary. |
- Kelly's Removals & Transport (Guildford) Limited | - MB&H Limited |
- Kelly's Storage Limited | - Henry Walter Martin Limited |
- Kellys Self Storage Limited |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
In the prior year, the director owed the company £211,927, which was transferred to Kelly's Storage Limited, leaving a balance of £Nil owed to the company. This amount was interest free and repayable upon demand. |
8. | RELATED PARTY DISCLOSURES |
The company had taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. This allowed for transactions with members of the group headed by Kellys Self Storage Limited not to be disclosed on the grounds that 100% of the voting rights in the company are controlled within the group. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is P R Martin. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
KELLYS SELF STORAGE LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kellys Self Storage Limited for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Kellys Self Storage Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kellys Self Storage Limited and state those matters that we have agreed to state to the Board of Directors of Kellys Self Storage Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kellys Self Storage Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Kellys Self Storage Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kellys Self Storage Limited. You consider that Kellys Self Storage Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Kellys Self Storage Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than you, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. |
Chartered Accountants |
Ashbourne House |
The Guildway |
Old Portsmouth Road |
Guildford |
Surrey |
GU3 1LR |