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Company No: 15486556 (England and Wales)

# CSS NB ASSET LIMITED

### Unaudited Financial Statements
For the financial period from 13 February 2024 to 31 March 2025
Pages for filing with the registrar

CSS NB ASSET LIMITED

## Unaudited Financial Statements

For the financial period from 13 February 2024 to 31 March 2025

Contents

CSS NB ASSET LIMITED

## COMPANY INFORMATION

For the financial period from 13 February 2024 to 31 March 2025
CSS NB ASSET LIMITED

## COMPANY INFORMATION (continued)

For the financial period from 13 February 2024 to 31 March 2025

Directors | D Davies (Appointed 13 February 2024)
| G Norman (Appointed 13 February 2024)
| J Sandelson (Appointed 13 February 2024)

Registered office | 2nd Floor
| 168 Shoreditch High Street
| London
| E1 6RA
| United Kingdom

Company number | 15486556 (England and Wales)

Accountant | Kreston Reeves LLP
| 2nd Floor
| 168 Shoreditch High Street
| London
| E1 6RA

CSS NB ASSET LIMITED

## BALANCE SHEET

As at 31 March 2025
CSS NB ASSET LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 31.03.2025
|  | £
Fixed assets |  |
Tangible assets | 3 | 8,169,102
|  | 8,169,102
Current assets |  |
Debtors | 4 | 113,019
Cash at bank and in hand | 5 | 13,488
|  | 126,507
Creditors: amounts falling due within one year | 6 | ( 1,334,076)
Net current liabilities |  | (1,207,569)
Total assets less current liabilities |  | 6,961,533
Creditors: amounts falling due after more than one year | 7 | ( 7,597,681)
Net liabilities |  | ( 636,148)
Capital and reserves |  |
Called-up share capital | 8 | 1
Profit and loss account |  | ( 636,149 )
Total shareholder's deficit |  | ( 636,148)

For the financial period ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of CSS NB Asset Limited (registered number: 15486556) were approved and authorised for issue by the Board of Directors on 13 February 2026. They were signed on its behalf by:

J Sandelson Director |

CSS NB ASSET LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 13 February 2024 to 31 March 2025
CSS NB ASSET LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 13 February 2024 to 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

##### General information and basis of accounting

CSS NB Asset Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA, United Kingdom. The principal activity of the company is to develop property for self storage solutions.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Going Concern

The financial statements have been prepared on a going concern basis despite the company reporting a loss of £636,149 and net liabilities of £636,148 for the period ended 31 March 2025.
The company is reliant upon the continued financial support of its parent company.

#### 2. Employees

| Period from 13.02.2024 to 31.03.2025
| Number
Monthly average number of persons employed by the Company during the period, including directors | 3

#### 3. Tangible assets

| Land and buildings |  | Total
| £ |  | £
Cost |  |  |
At 13 February 2024 | 0 |  | 0
Additions | 8,169,102 |  | 8,169,102
At 31 March 2025 | 8,169,102 |  | 8,169,102
Accumulated depreciation |  |  |
At 13 February 2024 | 0 |  | 0
At 31 March 2025 | 0 |  | 0
Net book value |  |  |
At 31 March 2025 | 8,169,102 |  | 8,169,102

#### 4. Debtors

| 31.03.2025
| £
Trade debtors | 35,000
Amounts owed by Group undertakings | 50,000
Prepayments | 5,318
VAT recoverable | 22,701
| 113,019

#### 5. Cash and cash equivalents

| 31.03.2025
| £
Cash at bank and in hand | 13,488

#### 6. Creditors: amounts falling due within one year

| 31.03.2025
| £
Trade creditors | 105,215
Amounts owed to Group undertakings | 106,401
Accruals | 3,500
Other creditors | 1,118,960
| 1,334,076

Other loans falling due within one year relate to an external loan. The loan is unsecured and repayable 18 months from the drawdown date of 20 May 2024. Interest is payable at the agreed rate.

#### 7. Creditors: amounts falling due after more than one year

| 31.03.2025
| £
Other loans | 7,597,681

Other loans falling due after more than one year comprise shareholder and third party loans.

#### 8. Called-up share capital

| 31.03.2025
| £
Allotted, called-up and fully-paid |
1 ordinary share of £ 1.00 | 1

#### 9. Related party transactions

The company undertakes intercompany loan and funding transactions with other entities within its corporate group.
At the period end, the company had net amounts owed to group undertakings of £3,754,082. This comprises £50,000 due from group companies, included within Debtors: amounts owed by group undertakings, £106,401 due to group undertakings, included within Creditors: amounts falling due within one year and £3,697,681 due to group undertakings, included within Creditors: amounts falling due after more than one year.

#### 10. Ultimate controlling party

The ultimate controlling party is CSS Group Holdings Limited.