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SLEAFORD SELF STORE LIMITED

Registered Number
06781847
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

SLEAFORD SELF STORE LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

Mr RG Leighton
Mrs TJ Leighton

Company Secretary

Mrs TJ Leighton

Registered Address

Amesbury House Main Street
Dorrington
Lincoln
LN4 3PX

Registered Number

06781847 (England and Wales)
SLEAFORD SELF STORE LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3397,281375,935
397,281375,935
Current assets
Stocks4138,439173,048
Debtors51,05731,729
Cash at bank and on hand26,91641,721
166,412246,498
Creditors amounts falling due within one year6(526,271)(584,514)
Net current assets (liabilities)(359,859)(338,016)
Total assets less current liabilities37,42237,919
Creditors amounts falling due after one year7(2,600)(6,500)
Provisions for liabilities8(8,391)(8,120)
Net assets26,43123,299
Capital and reserves
Called up share capital10,00010,000
Profit and loss account16,43113,299
Shareholders' funds26,43123,299
The financial statements were approved and authorised for issue by the Board of Directors on 21 May 2025, and are signed on its behalf by:
Mr RG Leighton
Director
Registered Company No. 06781847
SLEAFORD SELF STORE LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Land & buildings are not depreciated

Reducing balance (%)Straight line (years)
Plant and machinery10-
Fixtures and fittings-4
Office Equipment-4
Stocks and work in progress
The company treats containers purchased for storage as stock items. Stock is amortised over five years.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 October 23331,165123,28210,1152,203466,765
Additions20,2851,2987,659-29,242
At 30 September 24351,450124,58017,7742,203496,007
Depreciation and impairment
At 01 October 23-87,1141,8791,83790,830
Charge for year-3,7223,8083667,896
At 30 September 24-90,8365,6872,20398,726
Net book value
At 30 September 24351,45033,74412,087-397,281
At 30 September 23331,16536,1688,236366375,935
Included within the net book value of land and buildings above is £351,450 (2023 - £331,165) in respect of freehold land and buildings.
4.Stocks

2024

2023

££
Other stocks138,439173,048
Total138,439173,048
5.Debtors: amounts due within one year

2024

2023

££
Other debtors1,04431,729
Prepayments and accrued income13-
Total1,05731,729
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,1251,084
Bank borrowings and overdrafts3,9003,900
Taxation and social security6,643886
Other creditors501,938570,696
Accrued liabilities and deferred income12,6657,948
Total526,271584,514
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,6006,500
Total2,6006,500
Bounce back loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 20 May 2026. The carrying amount at year end is £6,500 (2023 - £10,400).
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8,3918,120
Total8,3918,120