Tanks And Property Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 11504238 (England and Wales)
Tanks and Property Limited
Tanks And Property Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Tanks And Property Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
738,998
789,243
Current assets
Debtors
4
57,063
25,123
Cash at bank and in hand
258,579
246,721
315,642
271,844
Creditors: amounts falling due within one year
5
(2,000)
(2,000)
Net current assets
313,642
269,844
Total assets less current liabilities
1,052,640
1,059,087
Creditors: amounts falling due after more than one year
6
(1,051,570)
(1,055,465)
Net assets
1,070
3,622
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
1,068
3,620
Total equity
1,070
3,622
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Tanks And Property Limited
Balance Sheet (Continued)
As at 31 December 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 7 August 2025 and are signed on its behalf by:
M. J. Jenkins
Director
Company Registration No. 11504238
Tanks and Property Limited
Tanks And Property Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 3
1
Accounting policies
Company information
Tanks and Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hope Street Chapel, Hope Street, Sandbach, United Kingdom, CW11 1BA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rental income in respect of container ownership.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and equipment
5% per annum straight line
1.4
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.
1.5
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Tanks and Property Limited
Tanks And Property Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 4
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
1,004,909
Depreciation and impairment
At 1 January 2024
215,666
Depreciation charged in the year
50,245
At 31 December 2024
265,911
Carrying amount
At 31 December 2024
738,998
At 31 December 2023
789,243
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
25,123
25,123
Other debtors
31,940
-
57,063
25,123
5
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
2,000
2,000
Tanks and Property Limited
Tanks And Property Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 5
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,051,570
1,055,465
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
Ordinary 'A' share of £1 each
1
1
2
2
8
Related party transactions
At the year end, included within other creditors is an amount of £1,051,570 (2023: £1,051,570) was owed to Sterlingwood Ltd, a shareholder of the company.
Included within other debtors is an amount of £31,940 (2023: creditor of £3,895) was due from Morgan Jenkins, also a shareholder of the company.