NW8 Self Storage Limited - Abbreviated accounts 16.1

NW8 Self Storage Limited - Abbreviated accounts 16.1

NW8 SELF STORAGE LTD - Company Information

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NW8 SELF STORAGE LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 15 JULY 2014 TO 31 DECEMBER 2015






NW8 SELF STORAGE LIMITED (REGISTERED NUMBER: 09132079)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 15 JULY 2014 TO 31 DECEMBER 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

NW8 SELF STORAGE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 15 JULY 2014 TO 31 DECEMBER 2015







DIRECTORS: O Barrie
K Prince





SECRETARY:





REGISTERED OFFICE: 149 St Pauls Avenue
Slough
SL2 5EN





REGISTERED NUMBER: 09132079 (England and Wales)





ACCOUNTANTS: Robert Brown & Co
Chartered Accountants
Monarch House
1 Smyth Road
Bristol
BS3 2BX
Page 1
NW8 SELF STORAGE LIMITED (REGISTERED NUMBER: 09132079)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2015

Notes £    £   
FIXED ASSETS
Tangible assets 2 193,419

CURRENT ASSETS
Stocks 426
Debtors 6,199
Cash at bank and in hand 33,985
40,610
CREDITORS
Amounts falling due within one year 343,390
NET CURRENT LIABILITIES (302,780 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(109,361
)

CAPITAL AND RESERVES
Called up share capital 3 100
Profit and loss account (109,461 )
SHAREHOLDERS' FUNDS (109,361 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 8 April 2016 and were signed on its behalf by:





K Prince - Director


The notes form part of these abbreviated accounts

Page 2
NW8 SELF STORAGE LIMITED (REGISTERED NUMBER: 09132079)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 15 JULY 2014 TO 31 DECEMBER 2015

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis, which assumes that the company will
continue for the foreseeable future. At 31 December the company had net current liabilities of £302,780 and net
liabilities of £109,361. The director has considered the position of the company with respect to its obligations to
ensure that the business can continue in operational existence for the foreseeable future, and confirms his
approval to adopt the going concern basis for preparing the accounts.

The assumptions the director has made in reaching this conclusion may be summarised as follows:
1. The company's business plan expects a loss in the first two trading years with profits expected from year three.
2. Current liabilities include loans from participators of £278,832. The loans will not be repaid until funds are
available from trading activities with an expectation that funds will be available by 31 December 2019.
3. The director is of the opinion that there is no reason to believe that the company will not achieve the results as
laid down in its business plan.

On the basis of the above, and all other information, the director considers it appropriate to prepare the financial
statements on a going concern basis. The financial statements do not include any adjustments that would result
from a failure to achieve these assumptions.

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

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

Short leasehold - 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Equipment and IT - 10% on cost

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

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NW8 SELF STORAGE LIMITED (REGISTERED NUMBER: 09132079)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 15 JULY 2014 TO 31 DECEMBER 2015

2. TANGIBLE FIXED ASSETS
Total
£   
COST
Additions 213,576
At 31 December 2015 213,576
DEPRECIATION
Charge for period 20,157
At 31 December 2015 20,157
NET BOOK VALUE
At 31 December 2015 193,419

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

Page 4