Acorah Software Products - Accounts Production 14.5.501 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 06359643 Mr Jayesh Tank iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06359643 2022-08-31 06359643 2023-08-31 06359643 2022-09-01 2023-08-31 06359643 frs-core:CurrentFinancialInstruments 2023-08-31 06359643 frs-core:Non-currentFinancialInstruments 2023-08-31 06359643 frs-core:ComputerEquipment 2023-08-31 06359643 frs-core:ComputerEquipment 2022-09-01 2023-08-31 06359643 frs-core:ComputerEquipment 2022-08-31 06359643 frs-core:FurnitureFittings 2023-08-31 06359643 frs-core:FurnitureFittings 2022-09-01 2023-08-31 06359643 frs-core:FurnitureFittings 2022-08-31 06359643 frs-core:NetGoodwill 2023-08-31 06359643 frs-core:NetGoodwill 2022-09-01 2023-08-31 06359643 frs-core:NetGoodwill 2022-08-31 06359643 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 06359643 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06359643 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-31 06359643 frs-core:PlantMachinery 2023-08-31 06359643 frs-core:PlantMachinery 2022-09-01 2023-08-31 06359643 frs-core:PlantMachinery 2022-08-31 06359643 frs-core:ShareCapital 2023-08-31 06359643 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 06359643 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06359643 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 06359643 frs-bus:SmallEntities 2022-09-01 2023-08-31 06359643 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06359643 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 06359643 frs-bus:Director1 2022-09-01 2023-08-31 06359643 frs-countries:EnglandWales 2022-09-01 2023-08-31 06359643 2021-08-31 06359643 2022-08-31 06359643 2021-09-01 2022-08-31 06359643 frs-core:CurrentFinancialInstruments 2022-08-31 06359643 frs-core:Non-currentFinancialInstruments 2022-08-31 06359643 frs-core:ShareCapital 2022-08-31 06359643 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 06359643
Tank Co (UK) Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
TaxAssist Accountants - Ashby
2b Derby Road
Ashby-De-La-Zouch
Leicestershire
LE65 2HE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06359643
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 25,000 25,000
Tangible Assets 5 265,903 268,245
290,903 293,245
CURRENT ASSETS
Debtors 6 - 6,390
Cash at bank and in hand 7,583 97
7,583 6,487
Creditors: Amounts Falling Due Within One Year 7 (9,478 ) (11,012 )
NET CURRENT ASSETS (LIABILITIES) (1,895 ) (4,525 )
TOTAL ASSETS LESS CURRENT LIABILITIES 289,008 288,720
Creditors: Amounts Falling Due After More Than One Year 8 (30,226 ) (45,500 )
NET ASSETS 258,782 243,220
CAPITAL AND RESERVES
Called up share capital 9 3 3
Profit and Loss Account 258,779 243,217
SHAREHOLDERS' FUNDS 258,782 243,220
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jayesh Tank
Director
11th April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tank Co (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06359643 . The registered office is The Post Office, 14 High Street, Fleckney, Leicester, Leicestershire, LE8 7AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No reduction applied
Plant & Machinery 4 Years Straight Line
Fixtures & Fittings 8 Years Straight Line
Computer Equipment 4 Years Straight Line
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:4 4 (2022: 5)
4 5
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4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2022 25,000
As at 31 August 2023 25,000
Net Book Value
As at 31 August 2023 25,000
As at 1 September 2022 25,000
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2022 253,414 43,410 56,046 1,866 354,736
Additions - - 5,600 - 5,600
As at 31 August 2023 253,414 43,410 61,646 1,866 360,336
Depreciation
As at 1 September 2022 - 43,410 42,256 825 86,491
Provided during the period - - 7,595 347 7,942
As at 31 August 2023 - 43,410 49,851 1,172 94,433
Net Book Value
As at 31 August 2023 253,414 - 11,795 694 265,903
As at 1 September 2022 253,414 - 13,790 1,041 268,245
6. Debtors
2023 2022
£ £
Due after more than one year
Directors loan account - 6,390
- 6,390
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 -
Bank loans and overdrafts 8,334 9,869
Other taxes and social security 120 120
Other creditors 66 66
Accruals and deferred income 957 957
9,478 11,012
The Directors have provided investment to the company to aid with its working capital requirements. The amount outstanding as of 31st August 2020 is £36,862 (2019 - £36,862). These do not incur interest and have no prescribed term of repayment.
An investment loan injected by a Directors family member was provided for working capital purposes.The amount outstanding as at the end of 31st august 2019 was £7,853.93 (£7,853.93 - 2019). This does not incure interest and has no prescribed term of repayment.
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 27,075 42,500
Directors loan account 3,151 3,000
30,226 45,500
The Company has a Mortgage secured against the Freehold Property owned by the company. This has approximately one to year remaining given the accelarated payments being made to reduce the outstanding liability. The amount outstanding of this as of the 31st August 2022, was £10,593.14. This has been classed as a current liability given the unstructured payments being made.
The company took out a further secured Mortage during the year for £42,500.  This has been classed as a long term liability and has a varaible payment structure for repayment.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3 3
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