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REGISTERED NUMBER: 09620063 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Tankwise Ltd

Tankwise Ltd (Registered number: 09620063)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 4


Tankwise Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr J R Clark
Mrs S Clark





REGISTERED OFFICE: Bellarmine House
14 Upper Church Street
Chepstow
Monmouthshire
NP16 5EX





REGISTERED NUMBER: 09620063 (England and Wales)





ACCOUNTANTS: Macario Lewin
Chartered Accountants
Bellarmine House
14 Upper Church Street
Chepstow
Monmouthshire
NP16 5EX

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tankwise Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tankwise Ltd for the year ended 30 June 2024 which comprise the Profit and Loss Account, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Tankwise Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tankwise Ltd and state those matters that we have agreed to state to the Board of Directors of Tankwise Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tankwise Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tankwise Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tankwise Ltd. You consider that Tankwise Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tankwise Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Macario Lewin
Chartered Accountants
Bellarmine House
14 Upper Church Street
Chepstow
Monmouthshire
NP16 5EX


16 August 2024

Tankwise Ltd (Registered number: 09620063)

Abridged Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 250,156 265,377

CURRENT ASSETS
Stocks 50,000 40,000
Debtors 485,919 393,525
Cash at bank 40,810 92,975
576,729 526,500
CREDITORS
Amounts falling due within one year 255,787 249,649
NET CURRENT ASSETS 320,942 276,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

571,098

542,228

CREDITORS
Amounts falling due after more than one
year

(66,360

)

(93,302

)

PROVISIONS FOR LIABILITIES (35,357 ) (30,019 )
NET ASSETS 469,381 418,907

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 469,281 418,807
SHAREHOLDERS' FUNDS 469,381 418,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:




Mr J R Clark - Director


Tankwise Ltd (Registered number: 09620063)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Tankwise Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).


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. Turnover is recognised when the right to consideration arises which occurs when the services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on cost and 4% on cost

At each Balance Sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount is reduced to its recoverable amount and the impairment loss recognised as an expense immediately.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Tankwise Ltd (Registered number: 09620063)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 449,871
Additions 67,990
Disposals (55,000 )
At 30 June 2024 462,861
DEPRECIATION
At 1 July 2023 184,494
Charge for year 61,211
Eliminated on disposal (33,000 )
At 30 June 2024 212,705
NET BOOK VALUE
At 30 June 2024 250,156
At 30 June 2023 265,377

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 July 2023 163,448
Additions 67,990
At 30 June 2024 231,438
DEPRECIATION
At 1 July 2023 61,839
Charge for year 41,760
At 30 June 2024 103,599
NET BOOK VALUE
At 30 June 2024 127,839
At 30 June 2023 101,609

5. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 93,642 101,147

Obligations under hire purchase contracts are secured on the assets to which they relate.

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £110,000 (2023 - £109,250) were paid to the directors .

Tankwise Ltd (Registered number: 09620063)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. RELATED PARTY DISCLOSURES - continued

Included in creditors is a loan of £114,124 (2023 - £118,579) owed to the directors.

Included in debtors are loans of £376,381 (2023 - £316,381) owed by companies with common directors.

These loans are unsecured, interest free and repayable on demand.