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DEVTANK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






DEVTANK LTD (REGISTERED NUMBER: 08973706)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DEVTANK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T R Telford
J A Burmeister





REGISTERED OFFICE: Unit 1, Grassy Court
Etwall Road
Mickleover
Derby
Derbyshire
DE3 0BX





REGISTERED NUMBER: 08973706 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

DEVTANK LTD (REGISTERED NUMBER: 08973706)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,323 43,892

CURRENT ASSETS
Stocks 33,551 33,424
Debtors 5 115,878 55,867
Cash at bank 519 510
149,948 89,801
CREDITORS
Amounts falling due within one year 6 92,118 75,434
NET CURRENT ASSETS 57,830 14,367
TOTAL ASSETS LESS CURRENT LIABILITIES 93,153 58,259

CREDITORS
Amounts falling due after more than one year 7 100,275 39,323
NET (LIABILITIES)/ASSETS (7,122 ) 18,936

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (7,222 ) 18,836
SHAREHOLDERS' FUNDS (7,122 ) 18,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:





T R Telford - Director


DEVTANK LTD (REGISTERED NUMBER: 08973706)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Devtank 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.

The accounts are prepared on a going concern basis which assumes the continued support of the directors.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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 11 (2023 - 10 ) .

DEVTANK LTD (REGISTERED NUMBER: 08973706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 84,214 3,605 - 14,450 102,269
Additions - 697 4,000 4,087 8,784
Disposals (15,736 ) - - (5,464 ) (21,200 )
At 31 March 2024 68,478 4,302 4,000 13,073 89,853
DEPRECIATION
At 1 April 2023 51,608 870 - 5,899 58,377
Charge for year 8,152 712 167 2,434 11,465
Eliminated on disposal (11,898 ) - - (3,414 ) (15,312 )
At 31 March 2024 47,862 1,582 167 4,919 54,530
NET BOOK VALUE
At 31 March 2024 20,616 2,720 3,833 8,154 35,323
At 31 March 2023 32,606 2,735 - 8,551 43,892

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 115,035 51,567
Other debtors 843 4,300
115,878 55,867

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 41,839 31,824
Trade creditors 32,987 13,556
Taxation and social security 14,186 23,837
Other creditors 3,106 6,217
92,118 75,434

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 100,275 39,323

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 6,615 16,073
Bank loans 135,499 55,074
142,114 71,147

DEVTANK LTD (REGISTERED NUMBER: 08973706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100