Surestore Storage Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09394363 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SURESTORE STORAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M P Wilson

SECRETARY:

Ms A V E Hooley

REGISTERED OFFICE:

Flexiss Group Brooke Court

Lower Meadow Road

Wilmslow

SK9 3ND

REGISTERED NUMBER:

09394363 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Intangible assets

4

57,479

75,421

CURRENT ASSETS

Debtors

5

622

5,949

Cash at bank

53,870

37,174

54,492

43,123

CREDITORS

Amounts falling due within one year

6

8,199

10,022

NET CURRENT ASSETS

46,293

33,101

TOTAL ASSETS LESS CURRENT LIABILITIES

103,772

108,522

PROVISIONS FOR LIABILITIES

7

14,177

18,561

NET ASSETS

89,595

89,961

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

89,495

89,861

89,595

89,961

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2023 and were signed by:

M P Wilson - Director

1.	STATUTORY INFORMATION

Surestore 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents royalties received.

Intangible assets

Intangible fixed assets are included at cost or valuation less amortisation and impairment.

Amortisation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Patents

-

10 years straight line.

Computer software

-

3 years straight line.

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Amounts due to and from related undertakings, included directors, are repayable on demand and are measured at the undiscounted amount due. Other liabilities shall be measured at amortised cost using the effective interest rate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

140,461

Additions

24,327

At 31 March 2023

164,788

AMORTISATION

At 1 April 2022

65,040

Charge for year

42,269

At 31 March 2023

107,309

NET BOOK VALUE

At 31 March 2023

57,479

At 31 March 2022

75,421

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

622

5,949

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

5,849

8,022

Other creditors

2,350

2,000

8,199

10,022

7.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

14,177

18,561

Deferred

tax

£

Balance at 1 April 2022

18,561

Provided during year

(4,384

)

Balance at 31 March 2023

14,177