Easystore Southwest Limited

Contents

Abridged Balance Sheet	1 to 2
Notes to the Unaudited Abridged Financial Statements	3 to 6

Easystore Southwest Limited

(Registration number: 11862529)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	143,512	176,632
Tangible assets	5	176,403	194,435
		319,915	371,067
Current assets
Debtors		147,524	97,307
Cash at bank and in hand		13,718	101,836
		161,242	199,143
Creditors: Amounts falling due within one year		(343,860)	(433,042)
Net current liabilities		(182,618)	(233,899)
Total assets less current liabilities		137,297	137,168
Creditors: Amounts falling due after more than one year		(32,583)	(41,017)
Provisions for liabilities		(44,103)	(48,610)
Net assets		60,611	47,541
Capital and reserves
Called up share capital		100	100
Profit and loss account		60,511	47,441
Total equity		60,611	47,541

Easystore Southwest Limited

(Registration number: 11862529)
Abridged Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 21 July 2025 and signed on its behalf by:
 

Mr A B MacBride

Director

Mrs J MacBride

Director

Easystore Southwest Limited

Notes to the Unaudited Abridged 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:
21 Meriden Close
Bromley
BR1 2UF

The principal place of business is:
21 Meriden Close
Bromley
BR1 2UF

These financial statements were authorised for issue by the Board on 21 July 2025.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Revenue recognition

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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company 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.

The current 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Easystore Southwest Limited

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

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
Plant & machinery	4.76% Straight Line
Office equipment	20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3	Staff numbers

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

Easystore Southwest Limited

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

4	Intangible assets

	Total £
Cost or valuation
At 1 April 2024	331,200
At 31 March 2025	331,200
Amortisation
At 1 April 2024	154,568
Amortisation charge	33,120
At 31 March 2025	187,688
Carrying amount
At 31 March 2025	143,512
At 31 March 2024	176,632

5	Tangible assets

	Total £
Cost or valuation
At 1 April 2024	254,864
Additions	1,767
At 31 March 2025	256,631
Depreciation
At 1 April 2024	60,429
Charge for the year	19,799
At 31 March 2025	80,228
Carrying amount
At 31 March 2025	176,403
At 31 March 2024	194,435

6	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £97,000 (2024 - £145,500).

Easystore Southwest Limited

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

7	Related party transactions

Summary of transactions with parent

Easystore (Holdings) Limited
 At the end of the period the amount due to the subsidiary from the parent was £147,524. (2024 - £96,524).
 

8	Off-balance sheet arrangements

Parent Company Borrowings
The assets of Easystore Southwest Limited are pledged as security by way of a fixed and floating charge for borrowing in the parent company, Easystore (Holdings) Limited.