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Company No: 08173936 (England and Wales)

STOCK N LOCK SELF STORAGE LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

STOCK N LOCK SELF STORAGE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

STOCK N LOCK SELF STORAGE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
STOCK N LOCK SELF STORAGE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 8,280,853 8,025,587
Investments 4 802,030 666,075
9,082,883 8,691,662
Current assets
Debtors 5 149,148 170,282
Cash at bank and in hand 210,621 131,195
359,769 301,477
Creditors: amounts falling due within one year 6 ( 286,099) ( 91,083)
Net current assets 73,670 210,394
Total assets less current liabilities 9,156,553 8,902,056
Creditors: amounts falling due after more than one year 7 ( 7,770,951) ( 7,783,875)
Provision for liabilities 8 ( 239,365) ( 132,852)
Net assets 1,146,237 985,329
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 1,146,137 985,229
Total shareholder's funds 1,146,237 985,329

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Stock N Lock Self Storage Limited (registered number: 08173936) were approved and authorised for issue by the Director on 21 March 2025. They were signed on its behalf by:

C W G Rodway
Director
STOCK N LOCK SELF STORAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
STOCK N LOCK SELF STORAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stock N Lock Self Storage Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Crown House Blackpole East, Blackpole Road, Worcester, WR3 8SG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Leasehold improvements 10 years straight line
Assets under construction not depreciated
Vehicles 4 years straight line
Fixtures and fittings 4 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 10 12

3. Tangible assets

Land and buildings Leasehold improve-
ments
Assets under construc-
tion
Vehicles Fixtures and fittings Total
£ £ £ £ £ £
Cost
At 01 October 2023 2,208,052 1,523,762 4,299,332 55,721 574,362 8,661,229
Additions 461,129 0 0 3,458 158,707 623,294
Transfers 4,289,832 0 ( 4,299,332) 9,500 0 0
At 30 September 2024 6,959,013 1,523,762 0 68,679 733,069 9,284,523
Accumulated depreciation
At 01 October 2023 69,473 170,086 0 32,603 363,480 635,642
Charge for the financial year 137,217 152,376 0 10,594 67,841 368,028
Transfers 42,892 ( 39,385) 0 0 ( 3,507) 0
At 30 September 2024 249,582 283,077 0 43,197 427,814 1,003,670
Net book value
At 30 September 2024 6,709,431 1,240,685 0 25,482 305,255 8,280,853
At 30 September 2023 2,138,579 1,353,676 4,299,332 23,118 210,882 8,025,587

4. Fixed asset investments

Listed investments Other investments Total
£ £ £
Cost or valuation before impairment
At 01 October 2023 666,075 0 666,075
Additions 16,923 32,791 49,714
Disposals ( 4,451) 0 ( 4,451)
Movement in fair value 90,692 0 90,692
At 30 September 2024 769,239 32,791 802,030
Carrying value at 30 September 2024 769,239 32,791 802,030
Carrying value at 30 September 2023 666,075 0 666,075

5. Debtors

2024 2023
£ £
Trade debtors 2,538 5,125
Amounts owed by director 372 203
Prepayments 146,238 85,166
VAT recoverable 0 79,788
149,148 170,282

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 193,594 70,661
Accruals 21,160 20,422
Taxation and social security 71,345 0
286,099 91,083

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 7,770,951 7,783,875

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 132,852) ( 203,714)
(Charged)/credited to the Statement of Income and Retained Earnings ( 106,513) 70,862
At the end of financial year ( 239,365) ( 132,852)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed by directors 372 203

During the financial year, advances were made to directors totalling £64,413, credits were made totalling £64,616. Interest was charged at 2.25%, totalling £372. During the year, dividends were declared totalling £20,000.