Steadfast Secure Storage Limited

Registered number

06047781

Filleted Accounts

31 December 2024

Steadfast Secure Storage Limited
Registered number:		06047781
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		1,316,800			1,356,345

Current assets
Stocks		(600)			-
Debtors	4	588,404			734,166
Cash at bank and in hand		30,293			12,261
		618,097			746,427

Creditors: amounts falling due within one year	5	(910,532)			(1,127,255)

Net current liabilities			(292,435)			(380,828)

Total assets less current liabilities			1,024,365			975,517

Creditors: amounts falling due after more than one year	6		(304,195)			(345,204)



Net assets			720,170			630,313

Capital and reserves
Called up share capital			40,000			40,000
Profit and loss account			680,170			590,313

Shareholders' funds			720,170			630,313

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Paul Harbord
Director
Approved by the board on 13 January 2025

Steadfast Secure Storage Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	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
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	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.

	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					19		19


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	1,026,532		96,721		511,880		1,635,133
	At 31 December 2024	1,026,532		96,721		511,880		1,635,133

	Depreciation
	At 1 January 2024	-		21,424		257,364		278,788
	Charge for the year	-		6,626		32,919		39,545
	At 31 December 2024	-		28,050		290,283		318,333

	Net book value
	At 31 December 2024	1,026,532		68,671		221,597		1,316,800
	At 31 December 2023	1,026,532		75,297		254,516		1,356,345


4	Debtors					2024		2023
£							£

	Trade debtors					410,948		455,903
	Other debtors					177,456		278,263
						588,404		734,166


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					207,960		268,936
	Obligations under finance lease and hire purchase contracts					(27,915)		50,786
	Trade creditors					72,702		136,667
	Taxation and social security costs					597,507		260,353
	Other creditors					60,278		410,513
						910,532		1,127,255


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					304,195		345,204


7	Other information

	Steadfast Secure Storage Limited is a private company limited by shares and incorporated in England. Its registered office is:
	1 Hackworth Road
	Niorth West Industrial Estate
	Peterlee
	SR8 2JQ