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REGISTERED NUMBER: 13725575 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

Kitley Self Storage Ltd

Kitley Self Storage Ltd (Registered number: 13725575)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Kitley Self Storage Ltd

COMPANY INFORMATION
for the year ended 31 December 2024







Directors: C R Wotton
Mrs M T Wotton





Registered office: Fallapit Barton
Fallapit
East Allington
Totnes
Devon
TQ9 7QE





Registered number: 13725575 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

Kitley Self Storage Ltd (Registered number: 13725575)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 148,790 144,901

Current assets
Debtors 5 40,597 32,523
Cash at bank 17,262 8,659
57,859 41,182
Creditors
Amounts falling due within one year 6 146,690 187,145
Net current liabilities (88,831 ) (145,963 )
Total assets less current liabilities 59,959 (1,062 )

Provisions for liabilities 8 10,000 -
Net assets/(liabilities) 49,959 (1,062 )

Capital and reserves
Called up share capital 9 200 200
Retained earnings 49,759 (1,262 )
Shareholders' funds 49,959 (1,062 )

Kitley Self Storage Ltd (Registered number: 13725575)

BALANCE SHEET - continued
31 December 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:





C R Wotton - Director


Kitley Self Storage Ltd (Registered number: 13725575)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Kitley Self Storage Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale and hire of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of goods have transferred to the buyer. Turnover from the hire of goods is recognised according to the period of hire.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Storage containers - 5% on cost
Improvements to property - 5% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Kitley Self Storage Ltd (Registered number: 13725575)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Storage to and Computer
containers property fittings equipment Totals
£    £    £    £    £   
Cost
At 1 January 2024 120,900 31,715 1,073 2,078 155,766
Additions - 11,078 1,300 - 12,378
At 31 December 2024 120,900 42,793 2,373 2,078 168,144
Depreciation
At 1 January 2024 8,026 1,588 167 1,084 10,865
Charge for year 5,628 1,765 410 686 8,489
At 31 December 2024 13,654 3,353 577 1,770 19,354
Net book value
At 31 December 2024 107,246 39,440 1,796 308 148,790
At 31 December 2023 112,874 30,127 906 994 144,901

Kitley Self Storage Ltd (Registered number: 13725575)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,074 9,113
Other debtors 28,523 23,410
40,597 32,523

Other debtors includes £5,157 in respect of a loan to a connected company. The loan is repayable on demand and has no fixed date for renewal.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 25,798 36,063
Taxation and social security 3,409 4,311
Other creditors 117,483 146,771
146,690 187,145

Other creditors includes £42,923 n respect of loans to connected companies. The loans are repayable on demand and have no fixed date for repayment.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 19,100 19,100
Between one and five years 76,400 76,400
In more than five years 76,400 95,500
171,900 191,000

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,000 -

Deferred
tax
£   
Accelerated capital allowances 22,000
Trading losses carried forward (12,000 )
Balance at 31 December 2024 10,000

Kitley Self Storage Ltd (Registered number: 13725575)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 200 200

10. RELATED PARTY DISCLOSURES

At the balance sheets date the company owed £36,621 to Mr and Mrs Wotton jointly.

The company also owed and was (owed) the following amounts to connected companies:

Justeel Limited - £(5,157) - a company owned and controlled by Mr and Mrs Wotton.
Newbury Container Storage Ltd - £42,923 - a company owned and controlled by Mr and Mrs Wotton.

The company paid £4,080 to Newbury Container Storage for admin support.

The outstanding amounts have no fixed date for repayment and carry no interest.

11. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by its directors, Mr and Mrs Wotton.