STORE_FIRST_BLACKBURN_LIM - Accounts

STORE FIRST BLACKBURN LIMITED - Company Information

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Company Registration No. 07951785 (England and Wales)

STORE FIRST BLACKBURN LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2015

STORE FIRST BLACKBURN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

STORE FIRST BLACKBURN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 DECEMBER 2015

- 1 -

2015

2014

Notes

Current assets

Stocks

24,457

31,638

Debtors

21,000

163,596

45,457

195,234

Creditors: amounts falling due within one year

(128,524)

(116,537)

Total assets less current liabilities

(83,067)

78,697

Capital and reserves

Called up share capital

Profit and loss account

(83,068)

78,696

Shareholders' funds

(83,067)

78,697

For the financial year ended 30 December 2015 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 financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 September 2016

Mr T S Whittaker

Director

Company Registration No. 07951785

STORE FIRST BLACKBURN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company is reliant upon support provided to it from its parent company, Harley Scott Holdings Limited, in order to meet its liabilities as they fall due. The directors of the holding company have confirmed that this support will continue for the foreseeable future and therefore the accounts have been prepared on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for storage units sold net of trade discounts.

Sales of units are recognised upon legal completion.

Deposits received prior to legal completion taking place are held on the balance sheet within other creditors.

1.4

Commissions

Commissions are payable to agents on storepod sales at commercial rates and are recognised in the profit and loss account on the legal completion of the sale concerned.

1.5

Guaranteed rentals

At the option of the buyer the company may enter into a lease-back arrangement and provide a guaranteed rental return for two years to the investor. These guaranteed rentals are recorded immediately in cost of sales in full, on the legal completion of the sale, to recognise the company's liability in this respect.

1.6

Other provisions

In accordance with Financial Reporting Standard Number 12, the company provides in full for advertising and marketing costs in respect of storage units sold.

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary share of £1 each

STORE FIRST BLACKBURN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 DECEMBER 2015

- 3 -

Related party relationships and transactions

Other transactions

During the year the company has entered into transactions with fellow group companies as follows:

Harley Scott Holdings Limited, the ultimate parent company - amounts owed by Harley Scott Holdings Limited to the company at the financial year end £nil (2014 - £61,829). During the year the company has been recharged for wages costs by Harley Scott Holdings Limited amounting to £657 (2014 - £1,423).

During the year the company has entered into transactions with connected companies in which the director, Mr T S Whittaker, has a controlling interest, as follows:

Mann Island Premier Apartments Limited - amounts owed by Mann Island Premier Apartments Limited to the company at the financial year end £nil(2014 - £100,207).