Leighton Buzzard Self Storage Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05407893 (England and Wales)

LEIGHTON BUZZARD SELF STORAGE LIMITED

TRADING AS

THE SECURE-STORE

Unaudited Financial Statements for the Year Ended 31 March 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

S A Jefferys

M P Jefferys

Secretary:

M P Jefferys

Registered office:

The Glen

Plantation Road

Leighton Buzzard

Bedfordshire

LU7 3HT

Registered number:

05407893 (England and Wales)

Accountants:

PKW Accountancy Ltd

Second Floor

1 Church Square

Leighton Buzzard

Bedfordshire

LU7 1AE

Fixed assets

Tangible assets

4

4,379,176

4,415,255

Investments

5

100

100

4,379,276

4,415,355

Current assets

Stocks

1,500

1,500

Debtors

6

39,497

24,171

Cash at bank

69,402

98,586

110,399

124,257

Creditors

Amounts falling due within one year

7

367,458

2,502,949

Net current liabilities

(257,059

)

(2,378,692

)

Total assets less current liabilities

4,122,217

2,036,663

Creditors

Amounts falling due after more than one year

8

(1,986,071

)

-

Provisions for liabilities

(360,505

)

(368,672

)

Net assets

1,775,641

1,667,991

Capital and reserves

Called up share capital

100

100

Retained earnings

1,775,541

1,667,891

Shareholders' funds

1,775,641

1,667,991

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 22 May 2020 and were signed on its behalf by:

M P Jefferys - Director

1.	Statutory information

Leighton Buzzard Self Storage Limited is a private company, limited by shares , registered in England and

Wales. The 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Leighton Buzzard Self Storage Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company is

exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

at varying rates on cost

Freehold property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 11 (2019 - 11 ) .

4.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 April 2019

3,920,000

726,363

4,646,363

Additions

-

1,808

1,808

At 31 March 2020

3,920,000

728,171

4,648,171

Depreciation

At 1 April 2019

-

231,108

231,108

Charge for year

-

37,887

37,887

At 31 March 2020

-

268,995

268,995

Net book value

At 31 March 2020

3,920,000

459,176

4,379,176

At 31 March 2019

3,920,000

495,255

4,415,255

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 April 2019

and 31 March 2020

100

Net book value

At 31 March 2020

100

At 31 March 2019

100

6.

Debtors: amounts falling due within one year

31.3.20

31.3.19

£

£

Trade debtors

18,337

-

Other debtors

21,160

24,171

39,497

24,171

7.

Creditors: amounts falling due within one year

31.3.20

31.3.19

£

£

Bank loans and overdrafts

181,783

2,327,882

Trade creditors

-

41,610

Amounts owed to group undertakings

100

100

Taxation and social security

73,767

19,692

Other creditors

111,808

113,665

367,458

2,502,949

8.

Creditors: amounts falling due after more than one year

31.3.20

31.3.19

£

£

Bank loans

1,986,071

-

9.	Secured debts

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank loans

2,167,854

2,327,882

The bank loans are secured on the freehold property owned by the company.

10.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2020 and

31 March 2019:

31.3.20

31.3.19

£

£

M P Jefferys and S A Jefferys

Balance outstanding at start of year

15,211

-

Amounts advanced

-

15,211

Amounts repaid

(15,211

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

15,211

The loan was interest free and repayable on demand.