REGISTERED NUMBER: 12505514 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Tarka Self Storage Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M Butler

Mr E A Butler

REGISTERED OFFICE:

69 High Street

Bideford

Devon

EX39 2AT

REGISTERED NUMBER:

12505514 (England and Wales)

ACCOUNTANTS:

R T Marke & Co Ltd

Chartered Accountants

69 High Street

Bideford

Devon

EX39 2AT

FIXED ASSETS

Tangible assets

5

607,902

414,743

CURRENT ASSETS

Debtors

5,761

8,126

Cash at bank

11,868

36,526

17,629

44,652

CREDITORS

Amounts falling due within one year

302,696

232,051

NET CURRENT LIABILITIES

(285,067

)

(187,399

)

TOTAL ASSETS LESS CURRENT LIABILITIES

322,835

227,344

CREDITORS

Amounts falling due after more than one year

(210,367

)

(176,650

)

PROVISIONS FOR LIABILITIES

(13,304

)

(1,042

)

NET ASSETS

99,164

49,652

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

99,162

49,650

SHAREHOLDERS' FUNDS

99,164

49,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2025 and were signed on its behalf by:

Mrs M Butler - Director

Mr E A Butler - Director

1.	STATUTORY INFORMATION

Tarka Self Storage Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

Over period of the lease

Improvements to property

-

Straight line over 5 years

Plant and machinery

-

Straight line over 5 years and Straight line over 15 years

Motor vehicles

-

Straight line over 5 years

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

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The company has net current liabilities of £285,067 (2024 - £187,399).

The company is reliant on the continuing financial support of its creditors and while there are no reasons to doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - NIL ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

500,358

Additions

263,262

Disposals

(15,500

)

At 31 March 2025

748,120

DEPRECIATION

At 1 April 2024

85,615

Charge for year

60,803

Eliminated on disposal

(6,200

)

At 31 March 2025

140,218

NET BOOK VALUE

At 31 March 2025

607,902

At 31 March 2024

414,743

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

2025

2024

2025

2024

£

£

£

£

Net obligations repayable:

Within one year

14,702

14,702

82,493

41,143

Between one and five years

1,225

15,927

163,375

76,156

15,927

30,629

245,868

117,299

Non-cancellable

operating leases

2025

2024

£

£

Within one year

46,000

30,000

Between one and five years

169,000

40,000

In more than five years

525,000

-

740,000

70,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts and finance leases

261,795

147,928

Other loans

24,150

37,950

285,945

185,878

Other loans are secured by fixed and floating charges over the company's assets.

The hire purchase contracts and finance leases are secured over the assets to which they relate.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

9.	POST BALANCE SHEET EVENTS

Since the balance sheet date the company has entered into a lease on a to occupy a new premises for 10 years at an annual rental of £42,500.