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REGISTERED NUMBER: 08833700 (England and Wales)















ALLIED STORAGE TANKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






ALLIED STORAGE TANKS LIMITED (REGISTERED NUMBER: 08833700)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ALLIED STORAGE TANKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: P S Doughty
K M White
T C Cornaby





REGISTERED OFFICE: Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS





REGISTERED NUMBER: 08833700 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

ALLIED STORAGE TANKS LIMITED (REGISTERED NUMBER: 08833700)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 20,291 26,186

CURRENT ASSETS
Stocks 33,425 7,821
Debtors 5 633,680 369,991
Cash at bank and in hand 1,772,786 1,161,559
2,439,891 1,539,371
CREDITORS
Amounts falling due within one year 6 (893,200 ) (387,641 )
NET CURRENT ASSETS 1,546,691 1,151,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,566,982

1,177,916

PROVISIONS FOR LIABILITIES (5,069 ) (6,543 )
NET ASSETS 1,561,913 1,171,373

CAPITAL AND RESERVES
Called up share capital 7 95 95
Share premium 34,995 34,995
Capital redemption reserve 10 10
Retained earnings 1,526,813 1,136,273
SHAREHOLDERS' FUNDS 1,561,913 1,171,373

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 Profit and loss account has not been delivered.

The financial statements were approved for issue by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





T C Cornaby - Director


ALLIED STORAGE TANKS LIMITED (REGISTERED NUMBER: 08833700)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Allied Storage Tanks 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.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Grants
Grants towards revenue expenditure are credited to income in the period to which they relate.

Turnover
Turnover represents amounts billed and billable in respect of the manufacture and installation of storage tanks during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less cost to sell, after making due allowance for obsolete and slow moving items.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

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.

ALLIED STORAGE TANKS LIMITED (REGISTERED NUMBER: 08833700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 32 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2022 88,236 33,576 16,586 138,398
Additions - - 9,392 9,392
At 31 January 2023 88,236 33,576 25,978 147,790
DEPRECIATION
At 1 February 2022 77,440 20,147 14,625 112,212
Charge for year 4,856 8,394 2,037 15,287
At 31 January 2023 82,296 28,541 16,662 127,499
NET BOOK VALUE
At 31 January 2023 5,940 5,035 9,316 20,291
At 31 January 2022 10,796 13,429 1,961 26,186

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 612,009 349,108
Other debtors 1,566 1
Directors' loan accounts 8,406 14,188
Prepayments and accrued income 8,550 3,545
630,531 366,842

Amounts falling due after more than one year:
Other debtors 3,149 3,149

Aggregate amounts 633,680 369,991

ALLIED STORAGE TANKS LIMITED (REGISTERED NUMBER: 08833700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 508,881 112,866
Corporation tax 135,403 102,849
Social security and other taxes 18,565 16,271
VAT 60,412 48,795
Other creditors 17,011 11,889
Directors' loan accounts 3 3
Accruals and deferred income 152,925 94,968
893,200 387,641

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
Value: £ £
70 Ordinary A £1 70 70
15 Ordinary B £1 15 15
5 Ordinary D £1 5 5
5 Ordinary E £1 5 5
95 95


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
K M White
Balance outstanding at start of year 14,188 -
Amounts advanced 218 17,688
Amounts repaid (6,000 ) (3,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,406 14,188

Interest has been charged on the overdrawn balances during the year at a commercial rate.