George Street Self Storage Limited

(Registration number: 12366592)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 17 September 2025 and signed on its behalf by:
 

C Betts Director

George Street Self Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Victoria Court
91 Huddersfield Road
Holmfirth
West Yorkshire
HD9 3JA
England

These financial statements were authorised for issue by the Board on 17 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the Financial Reporting Standard 102 Section 1A smaller entities - "The financial Reporting Standards applicable in the United Kingdon and the Republic of Ireland" and the Companies Act 2006 (as applicable to Companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rent of units 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

George Street Self Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	33% on straight line
Plant and machinery	25% on reducing balance
Office equipment	15% on straight line
Leasehold improvements	2% on straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

George Street Self Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

George Street Self Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Long leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 April 2024	4,478	2,724	115,517	539
Additions	-	775	-	-
At 31 March 2025	4,478	3,499	115,517	539
Depreciation
At 1 April 2024	358	2,111	50,539	323
Charge for the year	90	618	16,244	81
At 31 March 2025	448	2,729	66,783	404
Carrying amount
At 31 March 2025	4,030	770	48,734	135
At 31 March 2024	4,120	613	64,978	216

	Total £
Cost or valuation
At 1 April 2024	123,258
Additions	775
At 31 March 2025	124,033
Depreciation
At 1 April 2024	53,331
Charge for the year	17,033
At 31 March 2025	70,364
Carrying amount
At 31 March 2025	53,669
At 31 March 2024	69,927

George Street Self Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Debtors

	2025 £	2024 £
Trade debtors	1,186	1,052
Prepayments	1,608	-
Other debtors	20	850
	2,814	1,902

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		2,000	2,000
Trade creditors		-	1,500
Taxation and social security		9,236	10,963
Accruals and deferred income		33,349	51,248
Other creditors		4,890	4,400
		49,475	70,111

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		500	2,500
Other financial liabilities		20,000	20,000
		20,500	22,500

7	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Repayments by director £	At 31 March 2025 £
C Betts
There are no conditions attached to this loan.	829	(829)	-

George Street Self Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2024	At 1 April 2023 £	Advances to director £	At 31 March 2024 £
C Betts
There are no conditions attached to this loan.	-	829	829