Caseware UK (AP4) 2024.0.164 2024.0.164 true2023-08-012falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09120622 2023-08-01 2024-07-31 09120622 2022-08-01 2023-07-31 09120622 2024-07-31 09120622 2023-07-31 09120622 c:Director1 2023-08-01 2024-07-31 09120622 d:PlantMachinery 2023-08-01 2024-07-31 09120622 d:PlantMachinery 2024-07-31 09120622 d:PlantMachinery 2023-07-31 09120622 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09120622 d:MotorVehicles 2023-08-01 2024-07-31 09120622 d:MotorVehicles 2024-07-31 09120622 d:MotorVehicles 2023-07-31 09120622 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09120622 d:FurnitureFittings 2023-08-01 2024-07-31 09120622 d:FurnitureFittings 2024-07-31 09120622 d:FurnitureFittings 2023-07-31 09120622 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09120622 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09120622 d:CurrentFinancialInstruments 2024-07-31 09120622 d:CurrentFinancialInstruments 2023-07-31 09120622 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 09120622 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 09120622 d:ShareCapital 2024-07-31 09120622 d:ShareCapital 2023-07-31 09120622 d:RetainedEarningsAccumulatedLosses 2024-07-31 09120622 d:RetainedEarningsAccumulatedLosses 2023-07-31 09120622 c:OrdinaryShareClass1 2023-08-01 2024-07-31 09120622 c:OrdinaryShareClass1 2024-07-31 09120622 c:OrdinaryShareClass1 2023-07-31 09120622 c:FRS102 2023-08-01 2024-07-31 09120622 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09120622 c:FullAccounts 2023-08-01 2024-07-31 09120622 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09120622 2 2023-08-01 2024-07-31 09120622 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09120622










MySpace Self Storage Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 July 2024

 
MySpace Self Storage Limited
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of MySpace Self Storage Limited for the year ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MySpace Self Storage Limited for the year ended 31 July 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the director of MySpace Self Storage Limited in accordance with the terms of our engagement letter dated 3 November 2023Our work has been undertaken solely to prepare for your approval the financial statements of MySpace Self Storage Limited and state those matters that we have agreed to state to the director of MySpace Self Storage Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MySpace Self Storage Limited and its director for our work or for this report. 

It is your duty to ensure that MySpace 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 MySpace Self Storage Limited. You consider that MySpace Self Storage Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of MySpace 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.

  





Kreston Reeves LLP
Chartered Accountants
Canterbury
24 April 2025
Page 1

 
MySpace Self Storage Limited
Registered number: 09120622

Balance sheet
As at 31 July 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
55,249
50,137

  
55,249
50,137

Current assets
  

Stocks
  
2,182
2,760

Debtors: amounts falling due within one year
 5 
33,298
29,382

Cash at bank and in hand
  
22,249
42,108

  
57,729
74,250

Creditors: amounts falling due within one year
 6 
(65,318)
(78,009)

Net current liabilities
  
 
 
(7,589)
 
 
(3,759)

Total assets less current liabilities
  
47,660
46,378

  

Net assets
  
47,660
46,378


Capital and reserves
  

Called up share capital 
 7 
200
200

Profit and loss account
  
47,460
46,178

  
47,660
46,378


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 April 2025.




G Homewood
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MySpace Self Storage Limited
 

 
Notes to the financial statements
For the year ended 31 July 2024

1.


General information

MySpace Self Storage Limited is a private company limited by shares and is incorporated in England and Wales with registration number 09120622. The registered office address of the company is C/O Kreston Reeves LLP Innovation House, Ramsgate Road, Sandwich, Kent, United Kingdom, CT13 9FF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

These financial statements are rounded to the nearest pound.
The company's functional and presentational currency is Pounds Sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MySpace Self Storage Limited
 

 
Notes to the financial statements
For the year ended 31 July 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
25%
Fixtures and fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
MySpace Self Storage Limited
 

 
Notes to the financial statements
For the year ended 31 July 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
 
 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
MySpace Self Storage Limited
 

 
Notes to the financial statements
For the year ended 31 July 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2023
97,968
24,141
5,115
127,224


Additions
13,115
4,166
-
17,281


Disposals
-
(4,725)
-
(4,725)



At 31 July 2024

111,083
23,582
5,115
139,780



Depreciation


At 1 August 2023
63,716
10,589
2,782
77,087


Charge for the year on owned assets
5,718
5,845
606
12,169


Disposals
-
(4,725)
-
(4,725)



At 31 July 2024

69,434
11,709
3,388
84,531



Net book value



At 31 July 2024
41,649
11,873
1,727
55,249



At 31 July 2023
34,252
13,552
2,333
50,137

Page 6

 
MySpace Self Storage Limited
 

 
Notes to the financial statements
For the year ended 31 July 2024

5.


Debtors

2024
2023
£
£


Trade debtors
12,009
8,599

Other debtors
21,289
20,783

33,298
29,382



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
9,355
7,837

Corporation tax
7,546
10,348

Other taxation and social security
9,497
10,237

Other creditors
38,920
49,587

65,318
78,009



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.00 each
200
200



8.


Related party transactions

All related party transactions during the period were made under normal market conditions.


9.


Controlling party

The ultimate controlling party is G Homewood by viritue of his ownership of 100% of the issued share capital in the company.


Page 7