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Registered number: 06281952
Auxiliary Tank Services Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06281952
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 31,381 34,868
Tangible Assets 5 57,595 76,019
88,976 110,887
CURRENT ASSETS
Debtors 6 153,362 235,501
Cash at bank and in hand 151,229 18,832
304,591 254,333
Creditors: Amounts Falling Due Within One Year 7 (186,220 ) (125,191 )
NET CURRENT ASSETS (LIABILITIES) 118,371 129,142
TOTAL ASSETS LESS CURRENT LIABILITIES 207,347 240,029
Creditors: Amounts Falling Due After More Than One Year 8 (13,808 ) (20,345 )
NET ASSETS 193,539 219,684
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 193,439 219,584
SHAREHOLDERS' FUNDS 193,539 219,684
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Shaun Smith
Director
11 July 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Auxiliary Tank Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06281952 . The registered office is 1 Parkhouse Drive, Sandbach, Cheshire, CW11 1YW.
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 at a rate of 10% using the reducing balance method.
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:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Computer Equipment 25% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 10)
10 10
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 225,000
As at 31 March 2025 225,000
Amortisation
As at 1 April 2024 190,132
Provided during the period 3,487
As at 31 March 2025 193,619
Net Book Value
As at 31 March 2025 31,381
As at 1 April 2024 34,868
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 47,504 138,658 8,712 194,874
Additions - - 774 774
As at 31 March 2025 47,504 138,658 9,486 195,648
...CONTINUED
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Depreciation
As at 1 April 2024 34,125 78,649 6,081 118,855
Provided during the period 3,344 15,003 851 19,198
As at 31 March 2025 37,469 93,652 6,932 138,053
Net Book Value
As at 31 March 2025 10,035 45,006 2,554 57,595
As at 1 April 2024 13,379 60,009 2,631 76,019
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 128,055 202,426
Prepayments and accrued income 8,667 -
Other debtors - 473
Directors' loan accounts 16,640 32,602
153,362 235,501
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 9,527 14,163
Trade creditors 107,874 67,693
Corporation tax 28,269 2,934
VAT 36,720 34,953
Other creditors 630 2,648
Accruals and deferred income 3,200 2,800
186,220 125,191
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 13,808 20,345
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,527 14,163
Later than one year and not later than five years 13,808 20,345
23,335 34,508
23,335 34,508
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10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Shaun Smith 16,301 8,320 16,301 - 8,320
Mrs Elizabeth Smith 16,301 8,320 16,301 - 8,320
The above loan is unsecured, interest free and repayable on demand.
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