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Registered number: 12372708
STORSPACE SELF STORAGE LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2024
Pink Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12372708
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 625,000 625,000
Tangible Assets 5 631,565 349,031
1,256,565 974,031
CURRENT ASSETS
Debtors 6 62,658 13,311
Cash at bank and in hand 18,742 117,698
81,400 131,009
Creditors: Amounts Falling Due Within One Year 7 (1,308,478 ) (806,794 )
NET CURRENT ASSETS (LIABILITIES) (1,227,078 ) (675,785 )
TOTAL ASSETS LESS CURRENT LIABILITIES 29,487 298,246
Creditors: Amounts Falling Due After More Than One Year 8 (106,235 ) (124,216 )
NET (LIABILITIES)/ASSETS (76,748 ) 174,030
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (76,749 ) 174,029
SHAREHOLDERS' FUNDS (76,748) 174,030
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jonathan Pace
Director
31/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
STORSPACE SELF STORAGE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 12372708 . The registered office is 2 Orwell Road, Walsall, WS1 2PJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% SLM
Fixtures & Fittings 15% SLM
Computer Equipment 25% SLM
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 1)
3 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 625,000
As at 31 December 2024 625,000
Net Book Value
As at 31 December 2024 625,000
As at 1 January 2024 625,000
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Page 4
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 6,000 649,346 694 656,040
Additions - 402,522 20,471 422,993
As at 31 December 2024 6,000 1,051,868 21,165 1,079,033
Depreciation
As at 1 January 2024 3,000 303,662 347 307,009
Provided during the period 1,500 135,171 3,788 140,459
As at 31 December 2024 4,500 438,833 4,135 447,468
Net Book Value
As at 31 December 2024 1,500 613,035 17,030 631,565
As at 1 January 2024 3,000 345,684 347 349,031
6. Debtors
2024 2023
£ £
Due within one year
Intercompany Tern Valley Ltd 3,000 -
Pension 1,110 -
VAT 58,548 10,204
Other taxes and social security - 3,107
62,658 13,311
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 163,333 -
Trade creditors 11,017 1,186
Other taxes and social security 1,427 -
Net wages 2,547 -
Other creditor 120,610 -
Accruals and deferred income 292 -
Director's loan account 1,009,252 805,608
1,308,478 806,794
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 21,394 24,216
HP > 1 year 84,841 -
Other creditors - 100,000
106,235 124,216
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Page 5
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 163,333 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5