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REGISTERED NUMBER: 03378638 (England and Wales)










AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ABC GARRATT LANE LIMITED

ABC GARRATT LANE LIMITED (REGISTERED NUMBER: 03378638)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2016




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


ABC GARRATT LANE LIMITED

COMPANY INFORMATION
for the year ended 31 December 2016







DIRECTORS: Malcolm Milton
John Milton
David Milton


REGISTERED OFFICE: Highdown House
11 Highdown Road
Sydenham
Leamington Spa
Warwickshire
CV31 1XT


REGISTERED NUMBER: 03378638 (England and Wales)


SENIOR STATUTORY AUDITOR: Sarah Wilson FCA MSci


AUDITORS: Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditor
Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT


BANKERS: National Westminster Bank Plc
32 Corn Street
Bristol
BS99 7UG

ABC GARRATT LANE LIMITED (REGISTERED NUMBER: 03378638)

ABRIDGED BALANCE SHEET
31 December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 114,002 198,994

CURRENT ASSETS
Debtors 91,376 124,328
Cash at bank and in hand 212,545 208,877
303,921 333,205
CREDITORS
Amounts falling due within one year 507,359 607,989
NET CURRENT LIABILITIES (203,438 ) (274,784 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(89,436

)

(75,790

)

CREDITORS
Amounts falling due after more than one
year

(302,433

)

(349,508

)

PROVISIONS FOR LIABILITIES 6 (7,664 ) (10,741 )
NET LIABILITIES (399,533 ) (436,039 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 (399,535 ) (436,041 )
SHAREHOLDERS' FUNDS (399,533 ) (436,039 )

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 September 2017 and were signed on its behalf
by:




John Milton - Director



David Milton - Director


ABC GARRATT LANE LIMITED (REGISTERED NUMBER: 03378638)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2016

1. STATUTORY INFORMATION

ABC Garratt Lane 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company adopted FRS102 Section 1A "small entities" in the current year and it has resulted in the following
changes upon transition.

A related party loan has been reanalysed upon transition, with £47,074 (2015 - £45,571) being transferred from
non current liabilities to current liabilities. This resulted in net current liabilities increasing by the amounts above
in each corresponding financial year.

The date of transition was 1 January 2015.

At the balance sheet date the company had net current liabilities of £203,438 (2015 - £278,784) and total net
liabilities of £399,533 (2015 - £436,039). The directors have expressed their willingness to support the company
as necessary and along with the forecasted future profitable trade the business is considered a going concern. The
accounts and financial statements have therefore been prepared on a going concern basis.

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 represents net invoiced sales of storage services, excluding value added tax. Storage income is
recognised over the period for which the storage space is occupied by the customer.

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 - over the lease term
Warehouse equipment - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,
they are measured at amortised cost using the effective interest rate method, less impairment.

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 income statement.


ABC GARRATT LANE LIMITED (REGISTERED NUMBER: 03378638)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2016

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2015 - 7 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2016 1,291,258
Additions 4,680
At 31 December 2016 1,295,938
DEPRECIATION
At 1 January 2016 1,092,264
Charge for year 89,672
At 31 December 2016 1,181,936
NET BOOK VALUE
At 31 December 2016 114,002
At 31 December 2015 198,994

ABC GARRATT LANE LIMITED (REGISTERED NUMBER: 03378638)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2016

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2016 2015
£    £   
Within one year 150,000 150,000
Between one and five years 600,000 600,000
In more than five years 375,000 525,000
1,125,000 1,275,000

In addition to the minimum lease commitments detailed above, there is also a contractual 5% turnover rent
payable each year which is contingent on annual trading results.

6. PROVISIONS FOR LIABILITIES
2016 2015
£    £   
Deferred tax
Accelerated capital allowances 7,664 10,741

Deferred
tax
£   
Balance at 1 January 2016 10,741
Credit to Income Statement during year (3,077 )
Balance at 31 December 2016 7,664

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary £1 2 2

8. RESERVES
Retained
earnings
£   

At 1 January 2016 (436,041 )
Profit for the year 36,506
At 31 December 2016 (399,535 )

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sarah Wilson FCA MSci (Senior Statutory Auditor)
for and on behalf of Harrison Beale & Owen Limited

ABC GARRATT LANE LIMITED (REGISTERED NUMBER: 03378638)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2016

10. PENSION COMMITMENTS

The company operates defined contribution pension schemes in respect of certain employees and directors. The
schemes and their assets are held by independent managers. The pension charge represents contributions due
from the company amounting to £488 (2015 - £nil). Included within creditors is a balance due to pension
providers of £878 (2015 - £nil) representing contributions owed to the funds.

11. CONTINGENT LIABILITIES

The company has entered into an unlimited composite cross guarantee in respect of the bank borrowings of the
other group members. The maximum potential liability at 31 December 2016 was £nil (2015 - £nil).

12. RELATED PARTY DISCLOSURES

ABC Selfstore Services Limited

Company controlled by the directors


Management charges of £186,000 (2015 - £216,000) were paid during the year.

2016 2015
£    £   
Amount due to related party at the balance sheet date 21,600 28,800

The Milton Group

Partnership controlled by the directors


Management charges of £93,184 (2015 - £100,352) were paid during the year.

2016 2015
£    £   
Amount due to related party at the balance sheet date 878 -

Lynwave Limited

Company controlled by the directors


Rent of £205,092 (2015 - £202,014) was paid during the year.

Loan interest of £12,165 (2015 - £13,754) was paid during the year.

2016 2015
£    £   
Amount due to related party at the balance sheet date 349,507 395,078

13. ULTIMATE PARENT COMPANY

The ultimate parent company is Aynsgarth Limited, a company incorporated in the Isle of Man. The immediate
parent company is ABC Self Storage Limited, which is incorporated in the Isle of Man.