Container Storage Solutions Limited - Period Ending 2022-02-28

Container Storage Solutions Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Container Storage Solutions Limited

Company Information

Directors

Mrs C L Treble Parker Mr J Treble Parker Mr J Treble Parker Miss E C Treble Parker

Registered office

Hitchcock House Hilltop Park Devizes Road Salisbury Wiltshire SP3 4UF

Accountants

Francis Clark LLP Hitchcock House Hilltop Park Devizes Road Salisbury Wiltshire SP3 4UF

Container Storage Solutions Limited

Balance Sheet

28 February 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	6,654	1,500
Current assets
Debtors	5	26,630	20,725
Cash at bank and in hand		7,036	15,042
		33,666	35,767
Creditors: Amounts falling due within one year	6	(9,601)	(13,296)
Net current assets		24,065	22,471
Total assets less current liabilities		30,719	23,971
Creditors: Amounts falling due after more than one year	6	(4,877)	(6,375)
Provisions for liabilities		(1,264)	(285)
Net assets		24,578	17,311
Capital and reserves
Called up share capital		100	100
Profit and loss account		24,478	17,211
Shareholders' funds		24,578	17,311

Container Storage Solutions Limited

Balance Sheet

28 February 2022

For the financial year ending 28 February 2022 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 November 2022 and signed on its behalf by:
 

......................................... Mrs C L Treble Parker Director

Company Registration Number: 11841677

Container Storage Solutions Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2022

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:
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire
SP3 4UF
United Kingdom

The principal place of business is:
Cuckoo Wood Farm
Eynsham Road
Freeland
Witney
Oxfordshire
OX29 8AD
United Kingdom

These financial statements were authorised for issue by the Board on 25 November 2022.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006.

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.

Revenue recognition

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

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.

Container Storage Solutions Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2022

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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
Plant and machinery	25% straight line method
Computer equipment	25% straight line method

Container Storage Solutions Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2022

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 0).

Container Storage Solutions Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2022

4	Tangible assets

	Furniture, fittings and equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 March 2021	-	3,000	3,000
Additions	790	7,082	7,872
At 28 February 2022	790	10,082	10,872
Depreciation
At 1 March 2021	-	1,500	1,500
Charge for the year	197	2,521	2,718
At 28 February 2022	197	4,021	4,218
Carrying amount
At 28 February 2022	593	6,061	6,654
At 28 February 2021	-	1,500	1,500

5

Debtors

Current	2022 £	2021 £
Trade debtors	3,905	2,000
Other debtors	22,725	18,725
	26,630	20,725

6

Creditors

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Loans and borrowings	7	1,499	1,125
Trade creditors		4,685	6,034
Corporation tax		488	3,765
Other creditors		90	22
Accruals and deferred income		2,839	2,350
		9,601	13,296

Container Storage Solutions Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2022

Creditors: amounts falling due after more than one year

	Note	2022 £	2021 £
Due after one year
Loans and borrowings	7	4,877	6,375

7	Loans and borrowings

	2022 £	2021 £
Loans and borrowings due after one year
Bank borrowings	4,877	6,375

	2022 £	2021 £
Current loans and borrowings
Bank borrowings	1,499	1,125