Launceston Self Storage Ltd - Accounts to registrar (filleted) - small 18.2
Launceston Self Storage Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2019 |
| for |
| Launceston Self Storage Ltd |
| Launceston Self Storage Ltd (Registered number: 06380992) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| Launceston Self Storage Ltd |
| Company Information |
| for the Year Ended 31 March 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 9 Western Road |
| Launceston |
| Cornwall |
| PL15 7AR |
| Launceston Self Storage Ltd (Registered number: 06380992) |
| Balance Sheet |
| 31 March 2019 |
| 31.3.19 | 31.3.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings |
| 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. |
| Launceston Self Storage Ltd (Registered number: 06380992) |
| Balance Sheet - continued |
| 31 March 2019 |
| 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 on |
| Launceston Self Storage Ltd (Registered number: 06380992) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2019 |
| 1. | STATUTORY INFORMATION |
| Launceston Self Storage Ltd is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year 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 year 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Launceston Self Storage Ltd (Registered number: 06380992) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 April 2018 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2018 |
| and 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 | 124,591 |
| Charge for year | 41,567 |
| At 31 March 2019 | 166,158 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Launceston Self Storage Ltd (Registered number: 06380992) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | PROVISIONS FOR LIABILITIES |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Deferred tax | 147,694 | 144,615 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2018 |
| Provided during year |
| Balance at 31 March 2019 |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2018 |
| and 31 March 2019 |
| 10. | RELATED PARTY DISCLOSURES |
| As at 31 March the company owed Andrew Greenaway shareholder and director, £80,000 (31 March 2018 |
| £155,000). This loan is charged with an interest rate of 0%, and is repayable on demand. |
| During the year, the company entered into the following transactions with related parties: |
| Transaction Value |
Transaction Value |
Balance owed by/(owed to |
) |
Balance owed by/(owed to |
) |
| 2019 | 2018 | 2019 | 2018 |
| £ | £ | £ | £ |
| Greenaway & Greenaway Ltd | 96,266 | 8,088 | (1,045,099 | ) | (1,141,365 | ) |
| Oilmasters Cornwall Ltd | 9,996 | 9,996 | nil | nil |
| 11. | ULTIMATE CONTROLLING PARTY |
| Neither shareholder by virtue of his shareholding and directorship, controls the company. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Launceston Self Storage Ltd |
| 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 Launceston Self Storage Ltd for the year ended 31 March 2019 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 Launceston Self 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 Launceston Self Storage Ltd and state those matters that we have agreed to state to the Board of Directors of Launceston Self 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 Launceston Self Storage Ltd and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Launceston Self 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 profit of Launceston Self Storage Ltd. You consider that Launceston Self Storage Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Launceston Self 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. |
| 9 Western Road |
| Launceston |
| Cornwall |
| PL15 7AR |