General Information
Easy Access Self Storage Limited is a private company, limited by shares, registered in England and Wales, registration number 05587468, registration address Oldmoor Road, Bredbury, Stockport, SK6 2QE.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over 10 years during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Leasehold properties |
10% Straight Line |
| Plant and Machinery |
15% Straight Line
|
| Motor Vehicles |
25% Straight Line
|
| Fixtures and Fittings |
15% Straight Line
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 9 (2023 : 9).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Leasehold properties |
|
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 31 October 2023 |
2,252,121 |
|
616,430 |
|
72,410 |
|
429,417 |
|
3,370,378 |
| Additions |
- |
|
- |
|
- |
|
16,961 |
|
16,961 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 30 October 2024 |
2,252,121 |
|
616,430 |
|
72,410 |
|
446,378 |
|
3,387,339 |
| Depreciation |
| At 31 October 2023 |
73,270 |
|
277,430 |
|
33,214 |
|
333,480 |
|
717,394 |
| Charge for year |
10,687 |
|
24,657 |
|
9,800 |
|
30,243 |
|
75,387 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 30 October 2024 |
83,957 |
|
302,087 |
|
43,014 |
|
363,723 |
|
792,781 |
| Net book values |
| Closing balance as at 30 October 2024 |
2,168,164 |
|
314,343 |
|
29,396 |
|
82,655 |
|
2,594,558 |
| Opening balance as at 31 October 2023 |
2,178,851 |
|
339,000 |
|
39,196 |
|
95,937 |
|
2,652,984 |
The net book value of Leasehold properties includes £ 22,909 (2023 £33,596) in respect of assets leased under finance leases or hire purchase contracts.
|
| 4. |
Share Capital
Authorised
85 Class A shares of £1.00 each
5 Class B shares of £1.00 each
5 Class C shares of £1.00 each
5 Class D shares of £1.00 each
Allotted, called up and fully paid
|
2024
£ |
|
2023
£ |
|
85
Class A shares of £1.00 each |
85 |
|
85 |
|
5
Class B shares of £1.00 each |
5 |
|
5 |
|
5
Class C shares of £1.00 each |
5 |
|
5 |
|
5
Class D shares of £1.00 each |
5 |
|
5 |
|
100 |
|
100 |
|
2
|