9 7 Storage Equipment Experts Limited 08957747 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of providing racking safety inspections. Digita Accounts Production Advanced 6.30.9574.0 true 08957747 2023-09-01 2024-08-31 08957747 2024-08-31 08957747 core:RetainedEarningsAccumulatedLosses 2024-08-31 08957747 core:ShareCapital 2024-08-31 08957747 core:CurrentFinancialInstruments 2024-08-31 08957747 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 08957747 core:FurnitureFittingsToolsEquipment 2024-08-31 08957747 core:OtherPropertyPlantEquipment 2024-08-31 08957747 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-08-31 08957747 1 2024-08-31 08957747 bus:SmallEntities 2023-09-01 2024-08-31 08957747 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 08957747 bus:FilletedAccounts 2023-09-01 2024-08-31 08957747 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 08957747 bus:RegisteredOffice 2023-09-01 2024-08-31 08957747 bus:Director2 2023-09-01 2024-08-31 08957747 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08957747 core:ComputerEquipment 2023-09-01 2024-08-31 08957747 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 08957747 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 08957747 core:PlantMachinery 2023-09-01 2024-08-31 08957747 countries:England 2023-09-01 2024-08-31 08957747 1 2023-09-01 2024-08-31 08957747 2023-08-31 08957747 core:FurnitureFittingsToolsEquipment 2023-08-31 08957747 core:OtherPropertyPlantEquipment 2023-08-31 08957747 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-08-31 08957747 1 2023-08-31 08957747 2022-09-01 2023-08-31 08957747 2023-08-31 08957747 core:RetainedEarningsAccumulatedLosses 2023-08-31 08957747 core:ShareCapital 2023-08-31 08957747 core:CurrentFinancialInstruments 2023-08-31 08957747 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 08957747 core:FurnitureFittingsToolsEquipment 2023-08-31 08957747 core:OtherPropertyPlantEquipment 2023-08-31 08957747 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-08-31 08957747 2022-08-31 08957747 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-08-31 xbrli:pure iso4217:GBP

Registration number: 08957747

Storage Equipment Experts Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Storage Equipment Experts Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Storage Equipment Experts Limited

Company Information

Director

J O'Sullivan

Registered office

The Townhouse Hertford
114-116 Fore Street
Hertford
Herts
SG14 1AJ

 

Storage Equipment Experts Limited

(Registration number: 08957747)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23,948

12,820

Current assets

 

Debtors

5

141,712

117,134

Cash at bank and in hand

 

178,310

215,241

 

320,022

332,375

Creditors: Amounts falling due within one year

6

(165,942)

(157,018)

Net current assets

 

154,080

175,357

Total assets less current liabilities

 

178,028

188,177

Provisions for liabilities

(5,149)

(2,756)

Net assets

 

172,879

185,421

Capital and reserves

 

Called up share capital

2

2

Retained earnings

172,877

185,419

Shareholders' funds

 

172,879

185,421

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 May 2025
 

.........................................
J O'Sullivan
Director

 

Storage Equipment Experts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England. The address of the registered office is given in the company information page of these financial statements.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements for the year ended 31 August 2024 comply with Financial Reporting Standard 102 Section 1A small entities, The Financial Reporting Standard applicable in the UK and Republic of Ireland' and also comply with the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Storage Equipment Experts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Computer equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss
Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable
and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement
of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 7).

 

Storage Equipment Experts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

20,039

4,661

24,700

Additions

19,217

2,308

21,525

Disposals

(2,273)

-

(2,273)

At 31 August 2024

36,983

6,969

43,952

Depreciation

At 1 September 2023

9,614

2,266

11,880

Charge for the year

8,953

1,444

10,397

Eliminated on disposal

(2,273)

-

(2,273)

At 31 August 2024

16,294

3,710

20,004

Carrying amount

At 31 August 2024

20,689

3,259

23,948

At 31 August 2023

10,425

2,395

12,820

5

Debtors

Current

2024
£

2023
£

Trade debtors

120,768

98,374

Prepayments

13,634

10,839

Other debtors

7,310

7,921

 

141,712

117,134

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

8,154

8,587

Taxation and social security

109,248

103,294

Accruals and deferred income

41,018

38,850

Other creditors

7,522

6,287

165,942

157,018

 

Storage Equipment Experts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Related party transactions

Transactions with the director

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

During the year the company made advances to a director. The advance is subject to HMRC's official rate of interest and is repayable on demand.

(1,328)

3,000

(2,290)

(618)

 

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

3,500

3,500

At end of period

3,500

3,500

2023

Entities with joint control or significant influence
£

Total
£

At start of period

3,500

3,500

At end of period

3,500

3,500