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REGISTERED NUMBER: 01157380 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Gastank Limited

Gastank Limited (Registered number: 01157380)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gastank Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs A George
Mr A O George





REGISTERED OFFICE: 14 West Parade
Norwich
Norfolk
NR2 3DW





REGISTERED NUMBER: 01157380 (England and Wales)






Gastank Limited (Registered number: 01157380)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,241,827 4,297,567
4,241,827 4,297,567

CURRENT ASSETS
Stocks 527 552
Debtors 6 1,995,281 1,482,454
Cash at bank and in hand 4,294 45,239
2,000,102 1,528,245
CREDITORS
Amounts falling due within one year 7 221,849 134,569
NET CURRENT ASSETS 1,778,253 1,393,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,020,080

5,691,243

CREDITORS
Amounts falling due after more than
one year

8

(2,017,601

)

(1,687,449

)

PROVISIONS FOR LIABILITIES (679,673 ) (672,120 )
NET ASSETS 3,322,806 3,331,674

Gastank Limited (Registered number: 01157380)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 9 2,292,582 2,292,582
Retained earnings 1,029,224 1,038,092
3,322,806 3,331,674

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by:





Mrs A George - Director


Gastank Limited (Registered number: 01157380)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Gastank 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 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 15% 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 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.


Gastank Limited (Registered number: 01157380)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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 45 (2023 - 46 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 113,000
AMORTISATION
At 1 June 2023
and 31 May 2024 113,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Gastank Limited (Registered number: 01157380)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 4,215,000 610,987 4,825,987
Additions - 6,021 6,021
At 31 May 2024 4,215,000 617,008 4,832,008
DEPRECIATION
At 1 June 2023 42,150 486,270 528,420
Charge for year 42,150 19,611 61,761
At 31 May 2024 84,300 505,881 590,181
NET BOOK VALUE
At 31 May 2024 4,130,700 111,127 4,241,827
At 31 May 2023 4,172,850 124,717 4,297,567

The freehold land and buildings known as Ailwyn Hall care home with a carrying value of £3,762,001 were revalued on 25.05.2023 by Knight Frank LLP, independent valuers not connected with the company on the basis of market value.
The valuation conforms to international Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 13,369 3,940
Amounts owed by group undertakings 1,864,655 1,302,791
Other debtors 117,257 175,723
1,995,281 1,482,454

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 135,740 33,015
Taxation and social security 41,667 44,179
Other creditors 44,442 57,375
221,849 134,569

Gastank Limited (Registered number: 01157380)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Other creditors 2,017,601 1,687,449

9. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 2,292,582

10. ULTIMATE CONTROLLING PARTY

The company was controlled throughout this period and the previous by its 100% parent company Ashley Care Homes Limited