REGISTERED NUMBER: 12903072 (England and Wales)

STORAGE INNOVATION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

6

ASSETS

FIXED ASSETS

Tangible assets

4

13,990

31,784

CURRENT ASSETS

Stocks

18,300

20,000

Debtors

5

534,221

518,052

Cash at bank

18,213

4,365

570,734

542,417

584,724

574,201

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES

Called up share capital

6

300

300

Retained earnings

(226,704

)

(183,899

)

SHAREHOLDERS' FUNDS

(226,404

)

(183,599

)

CREDITORS

Amounts falling due within one year

7

82,529

62,024

Amounts falling due after more than one year

8

728,599

695,776

811,128

757,800

584,724

574,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

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 25th September 2025 and were signed on its behalf by:

M J Walton - Director

1.	STATUTORY INFORMATION

Storage Innovation Limited 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:

12903072

Registered office:

7 Woodland Close

Wetherby

Leeds

LS22 6BJ

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Going concern basis of accounting

The director has assessed the working capital requirements of the business and his continued provision to the company of the long term director loan account facility. As a result the director considers that the company will be able to operate within available banking facilities for at least a period of 12 months from the date of approval of the financial statements. Accordingly the director considers the going concern basis of accounting is applicable.

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

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 33% on cost

Fixtures and fittings - 33% on cost

Motor Vehicles - 25% on cost

Computer Equipment- 33% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where applicable.

Financial instruments

The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company's balance sheet when it becomes party to the contractual provisions of

the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st October 2023

328,059

Additions

12,769

At 30th September 2024

340,828

DEPRECIATION

At 1st October 2023

296,275

Charge for year

30,563

At 30th September 2024

326,838

NET BOOK VALUE

At 30th September 2024

13,990

At 30th September 2023

31,784

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

532,154

515,106

Other debtors

2,067

2,946

534,221

518,052

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

100

100

Ordinary C

£1

100

100

300

300

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

4,026

1,496

Hire purchase contracts (see note 9)

-

5,853

Trade creditors

58,850

20,130

Taxation and social security

3,316

2,611

Other creditors

16,337

31,934

82,529

62,024

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

728,599

695,776

The other creditors represents a directors loan account.

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Net obligations repayable:

Within one year

-

5,853