Drive Up Storage Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 14454699 (England and Wales)

Unaudited Financial Statements

for the Period

1 December 2023 to 31 March 2025

for

Drive Up Storage Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

D T Jackson

C J Vitoria

REGISTERED OFFICE:

The Old Palace Lodge

Christs Hospital Terrace

Lincoln

Lincolnshire

LN2 1LY

REGISTERED NUMBER:

14454699 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Drive Up Storage Ltd for the period ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Drive Up Storage Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Drive Up Storage Ltd and state those matters that we have agreed to state to the Board of Directors of Drive Up Storage Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Drive Up Storage Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Drive Up Storage Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Drive Up Storage Ltd. You consider that Drive Up Storage Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Drive Up Storage Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

19 December 2025

FIXED ASSETS

Intangible assets

4

14,625

-

Tangible assets

5

361,092

-

Investments

6

154,840

-

530,557

-

CURRENT ASSETS

Debtors

7

435,335

1

Cash at bank

2,433

-

437,768

1

CREDITORS

Amounts falling due within one year

8

1,006,303

-

NET CURRENT (LIABILITIES)/ASSETS

(568,535

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

(37,978

)

1

CAPITAL AND RESERVES

Called up share capital

11

1

Retained earnings

(37,979

)

-

SHAREHOLDERS' FUNDS

(37,978

)

1

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

D T Jackson - Director

1.	STATUTORY INFORMATION

Drive Up 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.

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.

At the year end the company had total net assets of £37,978. Within other creditors there is a directors loan account of £687,079. The director will continue to support the business and not call in this loan balance. Therefore, the accounts have been prepared on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Customer database are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on reducing balance

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

Additions

10,000

5,000

15,000

At 31 March 2025

10,000

5,000

15,000

AMORTISATION

Charge for period

250

125

375

At 31 March 2025

250

125

375

NET BOOK VALUE

At 31 March 2025

9,750

4,875

14,625

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

COST

Additions

31,230

7,995

372,395

8,382

420,002

At 31 March 2025

31,230

7,995

372,395

8,382

420,002

DEPRECIATION

Charge for period

4,155

2,496

48,879

3,380

58,910

At 31 March 2025

4,155

2,496

48,879

3,380

58,910

NET BOOK VALUE

At 31 March 2025

27,075

5,499

323,516

5,002

361,092

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

154,840

At 31 March 2025

154,840

NET BOOK VALUE

At 31 March 2025

154,840

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

Trade debtors

460

-

Amounts owed by group undertakings

69,938

-

Other debtors

364,937

1

435,335

1

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

Trade creditors

80,551

-

Taxation and social security

1,359

-

Other creditors

924,393

-

1,006,303

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2023

£

Within one year

75,000

-

Between one and five years

300,000

-

In more than five years

2,000,000

-

2,375,000

-

The company has a contractual lease of 25 years on the business property starting December 2024. Rent is due annually in advance and agreed until December 2028. Amounts owing relating to this contractual obligation not shown elsewhere in the accounts is above. A rent review is performed every 5 years. Above assumes the rent continues at the same rate.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2023

£

Other loans

228,375

-

The loan is secured over all assets of the Company.

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2023

value:

£

1

Share capital 1

£1

1