STORAGE123 LTD
Statement of financial position
as at 30 November 2024
Tangible assets
91,725
97,800
Cash at bank and in hand
3,907
4,667
Creditors: amounts falling due within one year
(83,109)
(92,481)
Net current liabilities
(77,703)
(87,710)
Profit and loss account
14,022
10,090
Shareholders' funds
14,022
10,090
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2025 and were signed on its behalf by
NARBUTIS Arturas
Director
Company Registration No. SC680282
STORAGE123 LTD
Notes to the Accounts
for the year ended 30 November 2024
STORAGE123 LTD is a private company, limited by shares, registered in Scotland, registration number SC680282. The registered office is 29 NEWTON ROAD, NEWTONHILL, STONEHAVEN, AB39 3TU, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 November 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 December 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
STORAGE123 LTD
Notes to the Accounts
for the year ended 30 November 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2023
45,000
9,079
77,560
131,639
At 30 November 2024
45,000
9,079
87,060
141,139
At 1 December 2023
-
2,924
30,915
33,839
Charge for the year
-
1,539
14,036
15,575
At 30 November 2024
-
4,463
44,951
49,414
At 30 November 2024
45,000
4,616
42,109
91,725
At 30 November 2023
45,000
6,155
46,645
97,800
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
85,464
101,829
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).