Easy Access Self Storage Limited - Accounts

Easy Access Self Storage Limited - Accounts

EASY ACCESS SELF STORAGE LIMITED - Company Information

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Registered Number: 05587468
England and Wales

 

 

 

EASY ACCESS SELF STORAGE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 November 2019

End date: 30 October 2020

Easy Access Self Storage Limited
Contents Page
For the year ended 30 October 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of Easy Access Self Storage Limited for the year ended 30 October 2020 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Director of Easy Access Self Storage Limited in accordance with our terms of engagement. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Director for our work or for this report.

It is your duty to ensure that Easy Access Self Storage Limited 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 Easy Access Self Storage Limited.
You consider that Easy Access Self Storage Limited is exempt from the statutory audit requirement for the period and we have not been instructed to carry out an audit or a review of the financial statements of Easy Access Self Storage Limited. 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.



....................................................
Burton Varley Ltd
Bank Chambers
93 Lapwing Lane
Manchester
M20 6UR
20 July 2021
1
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 2,789,893    2,840,750 
2,789,893    2,840,750 
Current assets      
Stocks 2,000    3,000 
Debtors 333,313    149,305 
Cash at bank and in hand 196,029    37,842 
531,342    190,147 
Creditors: amount falling due within one year (414,889)   (359,627)
Net current assets 116,453    (169,480)
 
Total assets less current liabilities 2,906,346    2,671,270 
Creditors: amount falling due after more than one year (1,663,552)   (1,474,602)
Accruals and deferred income (137,775)   (78,578)
Provisions for liabilities (108,079)   (107,423)
Net assets 996,940    1,010,667 
 

Capital and reserves 		     
Called up share capital 3 2    2 
Profit and loss account 996,938    1,010,665 
Shareholders funds 996,940    1,010,667 
 


For the year ended 30 October 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 20 July 2021 and were signed on its behalf by:


--------------------------------
Bernard Bailey
Director
2
General Information
Easy Access Self Storage Limited is a private company, limited by shares, registered in England and Wales, registration number 05587468, registration address Oldmoor Road, Bredbury, Stockport, SK6 2QE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold properties 10% Straight Line
Plant and Machinery 4% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 9 (2019 : 9).
3.

Tangible fixed assets

Cost or valuation Leasehold properties   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 November 2019 2,259,504    608,586    25,365    301,827    3,195,282 
Additions -    7,844    -    42,326    50,170 
Disposals (7,383)   -    (8,730)   -    (16,113)
At 30 October 2020 2,252,121    616,430    16,635    344,153    3,229,339 
Depreciation
At 01 November 2019 30,647    178,851    7,438    137,596    354,532 
Charge for year 10,686    24,607    2,644    48,480    86,417 
On disposals (123)   -    (1,380)   -    (1,503)
At 30 October 2020 41,210    203,458    8,702    186,076    439,446 
Net book values
Closing balance as at 30 October 2020 2,210,911    412,972    7,933    158,077    2,789,893 
Opening balance as at 01 November 2019 2,228,857    429,735    17,927    164,231    2,840,750 

The net book value of Leasehold properties includes £65,656(2019 £83,602) in respect of assets leased under finance leases or hire purchase contracts.

4.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2020
£		   2019
£
2 Class A shares of £1.00 each 2    2 
2    2 

3