Immingham Tankwash Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04286329 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

Immingham Tankwash Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S E Giles

D J Giles

SECRETARY:

D J Giles

REGISTERED OFFICE:

Middleplatt Road

Immingham

North Lincolnshire

DN40 1AH

REGISTERED NUMBER:

04286329 (England and Wales)

FIXED ASSETS

Tangible assets

4

42,420

56,388

CURRENT ASSETS

Debtors

5

78,695

105,964

Cash at bank

103

2,403

78,798

108,367

CREDITORS

Amounts falling due within one year

6

68,739

75,758

NET CURRENT ASSETS

10,059

32,609

TOTAL ASSETS LESS CURRENT LIABILITIES

52,479

88,997

CREDITORS

Amounts falling due after more than one year

7

(25,546

)

(34,474

)

PROVISIONS FOR LIABILITIES

(8,214

)

(10,712

)

NET ASSETS

18,719

43,811

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

18,619

43,711

SHAREHOLDERS' FUNDS

18,719

43,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 31 January 2018 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 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.

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

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 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 October 2016

4,855

108,499

4,159

At 30 September 2017

4,855

108,499

4,159

DEPRECIATION

At 1 October 2016

4,855

101,107

2,565

Charge for year

-

1,108

239

Eliminated on disposal

-

-

-

At 30 September 2017

4,855

102,215

2,804

NET BOOK VALUE

At 30 September 2017

-

6,284

1,355

At 30 September 2016

-

7,392

1,594

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2016

66,813

3,915

188,241

Disposals

(19,574

)

-

(19,574

)

At 30 September 2017

47,239

3,915

168,667

DEPRECIATION

At 1 October 2016

20,371

2,955

131,853

Charge for year

11,513

144

13,004

Eliminated on disposal

(18,610

)

-

(18,610

)

At 30 September 2017

13,274

3,099

126,247

NET BOOK VALUE

At 30 September 2017

33,965

816

42,420

At 30 September 2016

46,442

960

56,388

Included within the above are assets on HP with a cost value of £44,291 and depreciation to date of £12,349

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

20,442

36,449

Other debtors

58,253

69,515

78,695

105,964

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans and overdrafts

6,765

22,720

Hire purchase contracts

8,928

8,928

Trade creditors

14,633

10,043

Taxation and social security

14,664

18,698

Other creditors

23,749

15,369

68,739

75,758

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Hire purchase contracts

25,546

34,474

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

30.9.17

30.9.16

£

£

S E Giles

Balance outstanding at start of year

39,585

35,172

Amounts advanced

20,695

15,691

Amounts repaid

(21,001

)

(11,278

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

39,279

39,585

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

9.	ULTIMATE CONTROLLING PARTY

The controlling party is S E Giles.