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REGISTERED NUMBER: SC200748 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

U Store (Scotland) Limited

U Store (Scotland) Limited (Registered number: SC200748)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


U Store (Scotland) Limited (Registered number: SC200748)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,721 4,135
Investment property 5 388,500 388,500
392,221 392,635

CURRENT ASSETS
Debtors 6 104,057 93,267
Cash at bank 579,665 560,256
683,722 653,523
CREDITORS
Amounts falling due within one year 7 (110,239 ) (105,484 )
NET CURRENT ASSETS 573,483 548,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

965,704

940,674

PROVISIONS FOR LIABILITIES - (960 )
NET ASSETS 965,704 939,714

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 145,205 145,205
Retained earnings 819,499 793,509
965,704 939,714

U Store (Scotland) Limited (Registered number: SC200748)

Balance Sheet - continued
31 October 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:





Mr J S Frew - Director


U Store (Scotland) Limited (Registered number: SC200748)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

U Store (Scotland) Limited is a private company, limited by shares, domiciled in Scotland, registration number SC200748. The registered office is U Store, Burnbank Ind Est, Burnbank Road, Falkirk, Stirlingshire, FK2 7PE.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services in respect of letting real estate, excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

U Store (Scotland) Limited (Registered number: SC200748)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 20,077
DEPRECIATION
At 1 November 2023 15,942
Charge for year 414
At 31 October 2024 16,356
NET BOOK VALUE
At 31 October 2024 3,721
At 31 October 2023 4,135

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 388,500
NET BOOK VALUE
At 31 October 2024 388,500
At 31 October 2023 388,500

The directors have reviewed the value of the investment properties held by the company and believe that there is no material change from the last valuation.

U Store (Scotland) Limited (Registered number: SC200748)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2017 126,705
Valuation in 2023 18,500
Cost 243,295
388,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 6,247 2,891
Amounts owed by related parties 97,343 90,148
Other debtors 467 228
104,057 93,267

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 2,089 24
Taxation and social security 23,900 21,710
Other creditors 84,250 83,750
110,239 105,484

8. RESERVES
Revaluation
reserve
£   
At 1 November 2023
and 31 October 2024 145,205

9. RELATED PARTY DISCLOSURES

At the year end the company was owed £97,343 (2023 - £90,148) from a partnership owned by the shareholders. Loan interest of £7,104 (2023 - £24,905) was received during the year.