| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| Kitley Self Storage Ltd |
| REGISTERED NUMBER: |
| 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: |
| Registered office: |
| Registered number: |
| Accountants: |
| 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 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) |
| Provisions for liabilities | 8 |
| Net assets/(liabilities) | ( |
) |
| Capital and reserves |
| Called up share capital | 9 |
| Retained earnings | ( |
) |
| Shareholders' funds | ( |
) |
| Kitley Self Storage Ltd (Registered number: 13725575) |
| BALANCE SHEET - continued |
| 31 December 2024 |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Storage containers | - |
| Improvements to property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Storage | to | and | Computer |
| containers | property | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 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 |
| Other debtors |
| 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 |
| Taxation and social security |
| Other creditors |
| 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 |
| Between one and five years |
| In more than five years |
| 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 |
| 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: | £ | £ |
| 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. |