Company registration number 04897444 (England and Wales)
STORAGE GIANT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
STORAGE GIANT LIMITED
COMPANY INFORMATION
DIRECTOR
Mr S. J. Williams
COMPANY NUMBER
04897444
REGISTERED OFFICE
Unit 16 Leeway Industrial Estate
Newport
NP19 4SL
AUDITOR
Kilsby & Williams LLP
Cedar House
Hazell Drive
Newport
South Wales
NP10 8FY
STORAGE GIANT LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3
Independent auditor's report
4 - 8
Profit and loss account
9
Statement of comprehensive income
10
Balance sheet
11 - 12
Statement of changes in equity
13
Notes to the financial statements
14 - 30
STORAGE GIANT LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The director presents the strategic report for the year ended 30 September 2025.

PRINCIPAL ACTIVITIES

The principal activity of the company continued to be that of provision of storage facilities.

REVIEW OF THE BUSINESS

The Director is pleased to report another successful year for the Company. Despite continued inflationary pressures, rising operating costs and a competitive trading environment, the business delivered profitable growth while maintaining a disciplined approach to expenditure.

Revenue increased during the financial year, supported by strong occupancy levels, continued customer demand and the effective utilisation of existing storage capacity. This growth was achieved while continuing to provide secure, reliable and competitively priced self-storage solutions.

Throughout the year, the Director remained focused on prudent financial management and careful control of operating costs. Close monitoring of overheads, energy usage, maintenance expenditure and administrative expenses enabled the business to improve efficiency while maintaining a high standard of customer service. Investment was carefully considered, with expenditure directed only towards improvements that provide clear long-term value and support sustainable growth.

Customer retention remained strong, reflecting the quality of service provided, flexible storage options and the Company's established local reputation. Demand from both domestic and commercial customers continued to strengthen throughout the year, contributing to increased occupancy and improved financial performance.

Cash flow remained healthy throughout the year, enabling the Company to meet all of its financial commitments while maintaining a strong balance sheet. This financial discipline provides a solid foundation for continued growth and future investment opportunities.

PRINCIPAL RISKS AND UNCERTAINTIES

As with any business, the Company faces a number of risks that are actively monitored by the Director. Economic conditions, including inflation and changes in consumer confidence, may influence customer demand for self-storage services. The Company seeks to mitigate these risks by maintaining competitive pricing, flexible storage solutions and strong customer service.

The business also operates in an increasingly competitive market where new self-storage developments or local competitors may impact occupancy levels and pricing. The Director continues to monitor market conditions closely and focuses on maintaining high occupancy, operational efficiency and customer satisfaction to preserve the Company's competitive position.

Other risks include increases in utility and property operating costs, potential interruptions to business operations, cyber security risks relating to customer data and booking systems, and the ongoing requirement to maintain a safe and secure storage environment. Appropriate insurance cover, regular maintenance programmes, robust security systems and prudent financial management remain central to the Company's risk management strategy.

STORAGE GIANT LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
KEY PERFORMANCE INDICATORS

The Company monitors a number of key performance indicators to measure operational and financial performance. The principal objective remains the delivery of sustainable year-on-year revenue growth through increasing occupancy, effective pricing strategies and strong customer retention. Turnover for 2025 is £8.66m (2024: £7.25m)

Alongside revenue growth, EBITDA remains a key financial measure used by the Director to assess the underlying profitability and operational efficiency of the business. Maintaining healthy EBITDA margins through careful cost management and operational discipline continues to be a primary focus, ensuring the Company generates sufficient cash to support future investment and long-term sustainable growth.

In addition to revenue and EBITDA, the Director closely monitors the Company's net asset position as a key indicator of long-term financial strength. The Company's strategy is to continue growing its net assets through retained profits and disciplined financial management, with expansion and capital investment being primarily self-funded wherever practical. This approach supports the development of a resilient balance sheet, reduces reliance on external borrowing and provides the flexibility to invest in future growth opportunities while maintaining the Company's financial stability.

FUTURE OUTLOOK

The Director remains confident in the long-term prospects of the business. The strategy for the coming year is to continue increasing occupancy, improve operational efficiency and make selective investments where there is a clear commercial return.

The Company will continue to focus on increasing revenue, strengthening EBITDA performance, controlling costs, delivering excellent customer service and achieving sustainable organic growth. Maintaining financial resilience will remain a priority, ensuring the business is well positioned to respond to future opportunities and changing market conditions.

The Director would like to thank the Company's customers, suppliers and everyone who has supported the business throughout another successful year.

On behalf of the board

Mr S. J. Williams
Director
19 August 2026
STORAGE GIANT LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -

The director presents his annual report and financial statements for the year ended 30 September 2025.

DIRECTOR

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr S. J. Williams
STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT OF DISCLOSURE TO AUDITOR

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr S. J. Williams
DIRECTOR
19 August 2026
STORAGE GIANT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF STORAGE GIANT LIMITED
- 4 -
Opinion

We have audited the financial statements of Storage Giant Limited (the 'company') for the year ended 30 September 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

STORAGE GIANT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF STORAGE GIANT LIMITED (CONTINUED)
- 5 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the director's r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of director's remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

STORAGE GIANT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF STORAGE GIANT LIMITED (CONTINUED)
- 6 -
Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
STORAGE GIANT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF STORAGE GIANT LIMITED (CONTINUED)
- 7 -
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
•
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
•
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
•
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
•
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.
•
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

The corresponding figures in the 2024 year end have not been audited. Where applicable, 2024 closing balances have been verified and tested for the purposes of the 2025 year end audit.

STORAGE GIANT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF STORAGE GIANT LIMITED (CONTINUED)
- 8 -

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Ataf Salim
Senior Statutory Auditor
For and on behalf of
Kilsby & Williams LLP
Chartered accountants & statutory auditor
Cedar House
Hazell Drive
Newport
South Wales
NP10 8FY
19 August 2026
STORAGE GIANT LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 9 -
2025
2024
as restated
Notes
£
£
TURNOVER
2
8,663,443
7,249,756
Cost of sales
(361,567)
(287,618)
GROSS PROFIT
8,301,876
6,962,138
Administrative expenses
(3,729,362)
(3,545,543)
Other operating income
100,036
31,043
OPERATING PROFIT
3
4,672,550
3,447,638
Income from shares in group undertakings
5
899,723
1,800,000
Other interest receivable and similar income
5
95,042
98,638
Interest payable and similar expenses
6
(1,458,395)
(1,536,768)
PROFIT BEFORE TAXATION
4,208,920
3,809,508
Tax on profit
7
(804,854)
(709,259)
PROFIT FOR THE FINANCIAL YEAR
3,404,066
3,100,249

The profit and loss account has been prepared on the basis that all operations are continuing operations.

STORAGE GIANT LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
2025
2024
as restated
£
£
PROFIT FOR THE YEAR
3,404,066
3,100,249
OTHER COMPREHENSIVE INCOME
-
-
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
3,404,066
3,100,249
STORAGE GIANT LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 11 -
2025
2024
as restated
Notes
£
£
FIXED ASSETS
Tangible assets
10
38,199,640
35,958,262
Investments
11
2,602,793
2,162,581
40,802,433
38,120,843
CURRENT ASSETS
Stocks
13
31,050
33,148
Debtors
14
2,072,501
1,205,003
Cash at bank and in hand
1,406,618
3,440,020
3,510,169
4,678,171
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
15
(7,101,982)
(9,637,970)
NET CURRENT LIABILITIES
(3,591,813)
(4,959,799)
TOTAL ASSETS LESS CURRENT LIABILITIES
37,210,620
33,161,044
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
16
(16,070,231)
(15,525,277)
PROVISIONS FOR LIABILITIES
Provisions
19
(50,000)
-
0
Deferred tax liability
20
(915,487)
(864,931)
NET ASSETS
20,174,902
16,770,836
CAPITAL AND RESERVES
Called up share capital
23
1
1
Profit and loss reserves
20,174,901
16,770,835
TOTAL EQUITY
20,174,902
16,770,836

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 19 August 2026
STORAGE GIANT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 12 -
Mr S. J. Williams
Director
Company registration number 04897444 (England and Wales)
STORAGE GIANT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
AS RESTATED FOR THE PERIOD ENDED 30 SEPTEMBER 2024:
BALANCE AT 1 OCTOBER 2023
1
12,276,810
12,276,811
Effect of change in accounting policy
-
1,394,776
1,394,776
AS RESTATED
1
13,671,586
13,671,587
YEAR ENDED 30 SEPTEMBER 2024:
Profit and total comprehensive income
-
3,100,249
3,100,249
Dividends
8
-
(1,000)
(1,000)
BALANCE AT 30 SEPTEMBER 2024
1
16,770,835
16,770,836
YEAR ENDED 30 SEPTEMBER 2025:
Profit and total comprehensive income
-
3,404,066
3,404,066
BALANCE AT 30 SEPTEMBER 2025
1
20,174,901
20,174,902
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 14 -
1
ACCOUNTING POLICIES
Company information

Storage Giant Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 16 Leeway Industrial Estate, Newport, NP19 4SL.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland", and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Carini Holdings Limited. These consolidated financial statements are available from its registered office, Unit 16, Leeway Industrial Estate, Newport, Gwent, NP19 4SL.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for storage services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
ACCOUNTING POLICIES
(Continued)
- 15 -

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
2% on cost
Leasehold land and buildings
Depreciated over lease term
Plant and machinery
10% on cost
Fixtures and fittings
20% on cost
Computers
20% on cost

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.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
ACCOUNTING POLICIES
(Continued)
- 16 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
ACCOUNTING POLICIES
(Continued)
- 17 -
1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
ACCOUNTING POLICIES
(Continued)
- 18 -
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
ACCOUNTING POLICIES
(Continued)
- 19 -
1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

2
TURNOVER AND OTHER REVENUE
2025
2024
£
£
Turnover analysed by class of business
Storage Facilities
8,238,890
6,921,885
Rent
424,553
327,871
8,663,443
7,249,756
2025
2024
£
£
Other revenue
Interest income
95,042
98,638
Dividends received
899,723
1,800,000
3
OPERATING PROFIT
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
15,000
-
0
Depreciation of tangible fixed assets
627,334
613,007
Impairment of trade debtors
6,704
-
Operating lease charges
765,308
787,503
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 20 -
4
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Employees
55
46

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,447,601
1,219,553
Social security costs
152,742
143,859
Pension costs
26,717
25,666
1,627,060
1,389,078
5
INTEREST RECEIVABLE AND SIMILAR INCOME
2025
2024
£
£
Interest income
Interest on bank deposits
95,042
98,638
Income from fixed asset investments
Income from shares in group undertakings
899,723
1,800,000
Total income
994,765
1,898,638
Disclosed on the profit and loss account as follows:
Income from shares in group undertakings
899,723
1,800,000
Other interest receivable and similar income
95,042
98,638
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 21 -
6
INTEREST PAYABLE AND SIMILAR EXPENSES
2025
2024
£
£
Interest on bank overdrafts and loans
1,381,529
1,460,674
Other interest
76,866
76,094
1,458,395
1,536,768
7
TAXATION
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
853,158
644,396
Adjustments in respect of prior periods
(98,860)
(2,353)
Total current tax
754,298
642,043
Deferred tax
Origination and reversal of timing differences
50,556
67,216
Total tax charge
804,854
709,259
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
7
TAXATION
(Continued)
- 22 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
4,208,920
3,809,508
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
1,052,230
952,377
Tax effect of expenses that are not deductible in determining taxable profit
2,712
1,826
Adjustments in respect of prior years
-
0
36,175
Depreciation on assets not qualifying for tax allowances
97,645
146,945
Under/(over) provided in prior years
(98,860)
(2,353)
Deferred tax adjustments in respect of prior years
(23,942)
24,289
Dividend income
(224,931)
(450,000)
Taxation charge for the year
804,854
709,259
8
DIVIDENDS
2025
2024
£
£
Final paid
-
0
1,000
9
INTANGIBLE FIXED ASSETS
Goodwill
£
Cost
At 1 October 2024 and 30 September 2025
375,855
Amortisation and impairment
At 1 October 2024 and 30 September 2025
375,855
Carrying amount
At 30 September 2025
-
0
At 30 September 2024
-
0
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 23 -
10
TANGIBLE FIXED ASSETS
Freehold property
Leasehold land and buildings
Assets under construction
Plant and machinery
Fixtures and fittings
Computers
Total
£
£
£
£
£
£
£
Cost
At 1 October 2024
24,858,792
8,660,614
3,609,805
2,661,094
1,665,225
115,187
41,570,717
Additions
45,760
29,005
3,133,478
10,214
-
0
461
3,218,918
Disposals
(166,840)
(39,017)
(105,708)
(37,752)
(1,908)
-
0
(351,225)
Transfers
17,620
500
(18,120)
-
0
-
0
-
0
-
0
At 30 September 2025
24,755,332
8,651,102
6,619,455
2,633,556
1,663,317
115,648
44,438,410
Depreciation and impairment
At 1 October 2024
1,095,088
1,465,947
-
0
1,401,842
1,557,409
92,169
5,612,455
Depreciation charged in the year
258,258
159,414
-
0
173,003
27,495
9,164
627,334
Eliminated in respect of disposals
(333)
-
0
-
0
(629)
(57)
-
0
(1,019)
At 30 September 2025
1,353,013
1,625,361
-
0
1,574,216
1,584,847
101,333
6,238,770
Carrying amount
At 30 September 2025
23,402,319
7,025,741
6,619,455
1,059,340
78,470
14,315
38,199,640
At 30 September 2024
23,763,704
7,194,667
3,609,805
1,259,252
107,816
23,018
35,958,262
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 24 -
11
FIXED ASSET INVESTMENTS
2025
2024
Notes
£
£
Investments in subsidiaries
12
2,602,793
2,162,581
MOVEMENTS IN FIXED ASSET INVESTMENTS
Shares in subsidiaries
£
Cost or valuation
At 1 October 2024
2,162,581
Additions
440,212
At 30 September 2025
2,602,793
Carrying amount
At 30 September 2025
2,602,793
At 30 September 2024
2,162,581
12
SUBSIDIARIES

Details of the company's subsidiaries at 30 September 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Space Place Self Storage Ltd
Unit 16 Leeway Industrial Estate, Newport, Gwent, NP19 4SL
Ordinary Shares
100.00
Space Place Self Storage Telford Limited
Unit 16 Leeway Industrial Estate, Newport, Gwent, NP19 4SL
Ordinary Shares
100.00
Strykers Developments Ltd
Unit 16 Leeway Industrial Estate, Newport, Gwent, NP19 4SL
Ordinary Shares
100.00
13
STOCKS
2025
2024
£
£
Raw materials and consumables
31,050
33,148
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 25 -
14
DEBTORS
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
88,184
45,422
Amounts owed by group undertakings
1,572,965
524,806
Other debtors
411,352
634,775
2,072,501
1,205,003
15
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Notes
£
£
Bank loans
17
2,262,798
3,942,232
Bills of exchange
17
6,023
5,845
Trade creditors
600,076
1,152,068
Amounts owed to group undertakings
475,250
680,972
Corporation tax
791,164
1,025,411
Other taxation and social security
254,937
322,186
Deferred income
21
474,429
396,344
Other creditors
2,237,305
2,112,912
7,101,982
9,637,970

The above includes secured creditors of £2,262,798 (202 4 - £3,942,232).

At the year end, there was a balance owed of £943,882 (2024: £943,882) to Stone2010 Limited, an entity with common ownership. This balance is not due for immediate repayment.

16
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025
2024
Notes
£
£
Bank loans and overdrafts
17
13,388,633
12,651,967
Other borrowings
17
2,681,598
2,873,310
16,070,231
15,525,277
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
16
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
(Continued)
- 26 -
Creditors which fall due after five years are payable as follows:
Payable by instalments
4,337,440
5,908,445

The above includes secured creditors of £13,388,633 (202 4 - £1 2,651,967).

17
LOANS AND OVERDRAFTS
2025
2024
£
£
Bank loans
15,651,431
16,594,199
Bills of exchange
6,023
5,845
Other loans
2,681,598
2,873,310
18,339,052
19,473,354
Payable within one year
2,268,821
3,948,077
Payable after one year
16,070,231
15,525,277

The long-term loans are secured by fixed charges over all properties and their contents.

18
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Include within creditors due after more than one year is a balance of £2,681,598 (202 4 - £2,873,310) which is due to the director.

19
PROVISIONS FOR LIABILITIES
2025
2024
£
£
50,000
-
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
19
PROVISIONS FOR LIABILITIES
(Continued)
- 27 -
Movements on provisions:
£
Additional provisions in the year
50,000

Provisions of £50k in the year relate to estimated dilapidation costs on one of the properties.

20
DEFERRED TAXATION

The following are the major deferred tax liabilities and assets recognised by the company:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
916,993
866,437
Other timing
(1,506)
(1,506)
915,487
864,931
2025
Movements in the year:
£
Liability at 1 October 2024
864,931
Charge to profit or loss
50,556
Liability at 30 September 2025
915,487

21
DEFERRED INCOME
2025
2024
£
£
Other deferred income
474,429
396,344
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 28 -
22
RETIREMENT BENEFIT SCHEMES
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
26,717
25,666

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

23
SHARE CAPITAL
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
24
OPERATING LEASE COMMITMENTS
AS LESSEE

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
75,000
250,950
Years 2-5
300,000
1,103,800
After 5 years
1,350,000
724,800
1,725,000
2,079,550
25
CAPITAL COMMITMENTS

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
1,854,839
1,083,250
STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 29 -
27
ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party of the company is Carini Holdings Limited, a private company incorporated in Wales. The smallest and largest group producing accounts into which the results of the company for the year ended 30 September 2025 are consolidated is Carini Holdings Limited. The accounts of Carini Holdings Limited are available from Companies House, Crown Way, Cardiff CF14 3UZ.

28
PRIOR PERIOD ADJUSTMENT
CHANGES TO THE BALANCE SHEET
As previously reported
Adjustment
As restated at 30 Sep 2024
£
£
£
Fixed assets
Tangible assets
34,311,839
1,646,423
35,958,262
Creditors due within one year
Other creditors
(3,945,949)
(3)
(3,945,952)
Deferred income
-
(396,344)
(396,344)
Net assets
15,520,760
1,250,076
16,770,836
Capital and reserves
Profit and loss reserves
15,520,759
1,250,076
16,770,835
CHANGES TO THE PROFIT AND LOSS ACCOUNT
As previously reported
Adjustment
As restated
Period ended 30 September 2024
£
£
£
Turnover
7,646,103
(396,347)
7,249,756
Administrative expenses
(3,797,190)
251,647
(3,545,543)
Profit for the financial period
3,244,949
(144,700)
3,100,249
NOTES TO RECONCILIATION
DEPRECIATION OF FREEHOLD LAND

The Group processed a prior year adjustment to reverse historical depreciation on freehold land, after an exercise was conducted to split the value of the land and buildings from the original purchase. The total depreciation relating to freehold land was £1,914,012, with £272,525 affecting the prior year's depreciation charge in the profit and loss, and the remaining £1,641,487 related to pre 2024.

STORAGE GIANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
28
PRIOR PERIOD ADJUSTMENT
(Continued)
- 30 -
DEFERRED INCOME ADJUSTMENT

During the year, an exercise was undertaken to determine the amount of income that should be deferred based on tenants paying in advance for their storage. It was determined that the prior year effect of this within Storage Giant was £396,347. This amount is increasing creditors via deferred income, and decreasing sales and thus profit.

DEPRECIATION OF LEASEHOLD LAND

After factoring the prior year adjustment regarding depreciation of land, a determination was made to depreciate the leasehold land interests over the term of the lease. £267,589 was calculated as the prior year effect of the leasehold land depreciation, with £20,878 affecting depreciation charge, and the remaining £246,711 taken to retained earnings as it relates to before 2024.

TRANSFER FROM FREEHOLD TO LEASEHOLD

As part of work completed on the fixed asset register, it was determined that there are a number of properties that lie on leasehold land, despite Storage Giant having a freehold interest in the property. These properties have been reallocated from freehold to leasehold, profit or reserves have not been affected from this reallocation.

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