Company Registration No. 10534029 (England and Wales)
STORME LONDON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
STORME LONDON LIMITED
COMPANY INFORMATION
Directors
Mr R Cook
Mr A Koall
Secretary
Mr A Koall
Company number
10534029
Registered office
1350-1360 Montpellier Court
Brockworth
Gloucester
GL3 4AH
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
STORME LONDON LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
STORME LONDON LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,977
-
Current assets
Debtors
4
50,982
1
Cash at bank and in hand
2,441,497
-
2,492,479
1
Creditors: amounts falling due within one year
5
(7,867)
-
Net current assets
2,484,612
1
Total assets less current liabilities
2,498,589
1
Capital and reserves
Called up share capital
6
385,948
1
Share premium account
3,389,986
-
Profit and loss reserves
(1,277,345)
-
Total equity
2,498,589
1
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 20 March 2019 and are signed on its behalf by:
Mr R Cook
Director
Company Registration No. 10534029
STORME LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
1
Accounting policies
Company information
StorMe London Limited is a
private
company
limited by shares
incorporated in England and Wales within the United Kingdom.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover
represents the total invoice value, excluding value added tax, of sales made during the year.
Revenue from contracts for the provision of
storage
services is recognised by reference
entering of contract.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cos
t
, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% Reducing balance
Computer equipment
3 Years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.5
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
STORME LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 3 -
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 0).
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 January 2018
-
-
-
Additions
13,248
4,075
17,323
At 31 December 2018
13,248
4,075
17,323
Depreciation and impairment
At 1 January 2018
-
-
-
Depreciation charged in the year
1,987
1,359
3,346
At 31 December 2018
1,987
1,359
3,346
Carrying amount
At 31 December 2018
11,261
2,716
13,977
At 31 December 2017
-
-
-
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
39
-
Other debtors
50,943
1
50,982
1
STORME LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 4 -
5
Creditors: amounts falling due within one year
2018
2017
£
£
Other taxation and social security
1,958
-
Other creditors
5,909
-
7,867
-
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
3,859,480 Ordinary of 10p each
385,948
1