Immingham Tankwash Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04286329 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

Immingham Tankwash Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S E Giles

L K Giles

SECRETARY:

REGISTERED OFFICE:

Middleplatt Road

Immingham

North Lincolnshire

DN40 1AH

REGISTERED NUMBER:

04286329 (England and Wales)

FIXED ASSETS

Tangible assets

4

73,085

71,592

CURRENT ASSETS

Debtors

5

155,604

96,450

Cash at bank

75,044

3,810

230,648

100,260

CREDITORS

Amounts falling due within one year

6

143,878

91,580

NET CURRENT ASSETS

86,770

8,680

TOTAL ASSETS LESS CURRENT LIABILITIES

159,855

80,272

CREDITORS

Amounts falling due after more than one year

7

(62,719

)

(34,942

)

PROVISIONS FOR LIABILITIES

(13,887

)

(13,603

)

NET ASSETS

83,249

31,727

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

83,149

31,627

SHAREHOLDERS' FUNDS

83,249

31,727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2021 and were signed on its behalf by:

S E Giles - Director

1.	STATUTORY INFORMATION

Immingham Tankwash 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.

Turnover

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

Tangible fixed assets

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

Improvements to property

-

15% on cost

Plant and machinery

-

15% on reducing balance and 10% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Government grants

All of the grants are unconditional and have been accounted for on the accruals basis.

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 5 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 October 2019

4,855

151,499

4,159

Additions

-

15,129

-

At 30 September 2020

4,855

166,628

4,159

DEPRECIATION

At 1 October 2019

4,855

107,183

3,181

Charge for year

-

7,072

147

At 30 September 2020

4,855

114,255

3,328

NET BOOK VALUE

At 30 September 2020

-

52,373

831

At 30 September 2019

-

44,316

978

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2019

45,146

3,915

209,574

Additions

-

-

15,129

At 30 September 2020

45,146

3,915

224,703

DEPRECIATION

At 1 October 2019

19,438

3,325

137,982

Charge for year

6,329

88

13,636

At 30 September 2020

25,767

3,413

151,618

NET BOOK VALUE

At 30 September 2020

19,379

502

73,085

At 30 September 2019

25,708

590

71,592

Included within the above are assets on HP with a cost value of £81,645 and depreciation to date of £31,533

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

28,146

11,649

Other debtors

127,458

84,801

155,604

96,450

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans and overdrafts

2,355

15,906

Hire purchase contracts

19,868

19,868

Trade creditors

27,429

5,662

Taxation and social security

68,665

30,527

Other creditors

25,561

19,617

143,878

91,580

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans

47,645

-

Hire purchase contracts

15,074

34,942

62,719

34,942

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,904

-

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2020 and 30 September 2019:

30.9.20

30.9.19

£

£

S E Giles

Balance outstanding at start of year

59,386

44,501

Amounts advanced

32,597

32,385

Amounts repaid

(17,500

)

(17,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

74,483

59,386

The Directors loan account is interest free and payable on demand.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is S E Giles.