Your Store Exeter Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

Your Store Exeter Limited

(Registration number: 08404488)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	4	516,127	559,367
Current assets
Debtors	5	162,960	76,694
Cash at bank and in hand		85,238	120,541
		248,198	197,235
Creditors: Amounts falling due within one year	6	(20,929)	(22,105)
Net current assets		227,269	175,130
Total assets less current liabilities		743,396	734,497
Creditors: Amounts falling due after more than one year	6	(555,000)	(565,000)
Provisions for liabilities		(32,625)	(26,138)
Net assets		155,771	143,359
Capital and reserves
Called up share capital		100,000	100,000
Profit and loss account		55,771	43,359
Shareholders' funds		155,771	143,359

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 14 August 2026 and signed on its behalf by:
 

Mr S Fitton Director

Your Store Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is providing self storage.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Your Store Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Prior period errors

Error on depreciation policy used on storage containers held within fixed assets.

During the period it came to light that an error had been made in determining the deprecation policy on the containers.

A useful life of 12 years had previously been used but this ignored the residual value of the steel containers when scraped and also understated the useful life of the assets. The policy should have been a useful life or 20 years with a residual value of 10% of original cost.

The depreciation charges have been overstated in previous years and in turn the value of the containers in the fixed assets understated. In addition the deferred tax provision was incorrect.
At the 31 December 2024
The fixed assets were understated by £248,761.
The deferred tax provision was understated by £26,138
The profit and loss reserve account understated by £203,587.
In the 2024 accounts the depreciation charge was overstated by £30,987, and a deferred tax charge of £11,951 was required.

	Relating to the current period disclosed in these financial statements £	Relating to the prior period disclosed in these financial statements £	Relating to periods before the prior period disclosed in these financial statements £
Depreciation change for the year overstated	-	(30,987)	(30,987)
Deferred tax charge for the year understated	-	11,951	14,188
Fixed assets understated	-	248,761	217,774
Deferred tax provision understated	-	(26,138)	(14,188)
Profit and loss reserve account understated	-	(203,587)	(186,787)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Your Store Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold properties	Straight line over the life of the lease
Plant and machinery	25% reducing balance
Fittings, fixtures and equipment	25% reducing balance
Motor vehicles	25% reducing balance
Containers	Over 20 years with 10% residual value

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Your Store Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 2).

Your Store Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Short leasehold property £	Plant and machinery £	Fixtures, fittings and equipment £	Motor vehicles  £	Containers £	Total £
Cost or valuation
At 1 January 2025	80,860	8,552	22,963	7,095	808,346	927,816
Additions	-	1,111	904	-	-	2,015
At 31 December 2025	80,860	9,663	23,867	7,095	808,346	929,831
Depreciation
At 1 January 2025	33,601	7,124	20,283	4,323	303,118	368,449
Charge for the year	6,656	635	896	693	36,375	45,255
At 31 December 2025	40,257	7,759	21,179	5,016	339,493	413,704
Carrying amount
At 31 December 2025	40,603	1,904	2,688	2,079	468,853	516,127
At 31 December 2024	47,259	1,428	2,680	2,772	505,228	559,367

5

Debtors

	2025 £	2024 £
Trade debtors	71,204	66,507
Other debtors	79,241	-
Prepayments	12,515	10,187
	162,960	76,694

Your Store Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	5,000	5,000
Trade creditors		1,372	1,372
Taxation and social security		11,979	13,273
Accruals and deferred income		2,578	2,460
		20,929	22,105