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REGISTERED NUMBER: 09272726 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

NETHER SELF STORAGE LTD

NETHER SELF STORAGE LTD (REGISTERED NUMBER: 09272726)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


NETHER SELF STORAGE LTD (REGISTERED NUMBER: 09272726)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 118,661 107,924

CURRENT ASSETS
Debtors 5 18,322 10,697
Cash at bank and in hand 60,595 5,643
78,917 16,340
CREDITORS
Amounts falling due within one year 6 86,794 63,764
NET CURRENT LIABILITIES (7,877 ) (47,424 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,784

60,500

CREDITORS
Amounts falling due after more than one
year

7

(4,030

)

(10,453

)

PROVISIONS FOR LIABILITIES (12,573 ) (10,079 )
NET ASSETS 94,181 39,968

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 94,081 39,868
SHAREHOLDERS' FUNDS 94,181 39,968

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.

NETHER SELF STORAGE LTD (REGISTERED NUMBER: 09272726)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by:





M Yaseen - Director


NETHER SELF STORAGE LTD (REGISTERED NUMBER: 09272726)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Nether Self Storage Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09272726

Registered office: 368 Forest Road
London
E17 5JF

The presentation currency of the financial statements is the Pound Sterling (£).


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 received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

NETHER SELF STORAGE LTD (REGISTERED NUMBER: 09272726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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.

Going concern
The company continues with the support of shareholders who will not allow any of its creditors to suffer as a result of the directors' decision to allow the company to continue to trade under the circumstances. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 November 2023 56,076 107,862 21,061 184,999
Additions 7,150 11,200 5,237 23,587
At 31 October 2024 63,226 119,062 26,298 208,586
DEPRECIATION
At 1 November 2023 - 66,929 10,146 77,075
Charge for year - 10,427 2,423 12,850
At 31 October 2024 - 77,356 12,569 89,925
NET BOOK VALUE
At 31 October 2024 63,226 41,706 13,729 118,661
At 31 October 2023 56,076 40,933 10,915 107,924

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,864 8,629
Other debtors 2,458 2,068
18,322 10,697

NETHER SELF STORAGE LTD (REGISTERED NUMBER: 09272726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 6,500 6,500
Trade creditors 28,568 705
Taxation and social security 23,390 11,982
Other creditors 28,336 44,577
86,794 63,764

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 4,030 10,453

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,500 6,500
Other loans 20,756 29,778
27,256 36,278

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,030 6,500

Amounts falling due between two and five years:
Bank loans - 2-5 years - 3,953

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

NETHER SELF STORAGE LTD (REGISTERED NUMBER: 09272726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


10. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £3,041 (2023: £12,686) owed by the company to Mr M Yaseen, the director.

Also, included in other creditors is the amount of £500 (2023: £2,500) due from connected companies.

During the year ended 31.10.20 the director Mrs S Yaseen loaned the company £110,000 for the purchase of storage containers. This loan is repayable on demand, and bears interest at 10% p.a. At the year ended 31.10.24 Mrs S Yaseen was owed £20,756 (2023: £29,778) after interest charges, by the company; this balance is included in other creditors.