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Registration number: 09360626

Protank Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2024

Protank Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 8

Protank Limited

Company Information

Director | Dr Simon Madgwick

Registered office | Innovations House 19 Staple Gardens Winchester Hampshire SO23 8SR

Accountants | Tax Innovations Limited Innovations House 19 Staple Gardens Winchester Hampshire SO23 8SR

Protank Limited

(Registration number: 09360626)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 2,852 | 2,985
Current assets |  |  |
Debtors | 5 | 313 | 1,111
Cash at bank and in hand |  | 40,526 | 18,690
|  | 40,839 | 19,801
Creditors: Amounts falling due within one year | 6 | (17,489) | (18,507)
Net current assets |  | 23,350 | 1,294
Net assets |  | 26,202 | 4,279
Capital and reserves |  |  |
Called up share capital | 9 | 1,000 | 1,000
Retained earnings |  | 25,202 | 3,279
Shareholders' funds |  | 26,202 | 4,279

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 September 2025

Protank Limited

(Registration number: 09360626)
Balance Sheet as at 31 December 2024

......................................... Dr Simon Madgwick Director

Protank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR
England

The principal place of business is:
The Rickyard,
Mount Lane,
Lockerley,
Hampshire
SO51 0JS

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity; and
- specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Protank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Protank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2024 | 18,240 | 18,240
Additions | 1,562 | 1,562
At 31 December 2024 | 19,802 | 19,802
Depreciation
At 1 January 2024 | 15,255 | 15,255
Charge for the year | 1,695 | 1,695
At 31 December 2024 | 16,950 | 16,950
Carrying amount
At 31 December 2024 | 2,852 | 2,852
At 31 December 2023 | 2,985 | 2,985

5 | Debtors

Current | 2024 £ | 2023 £
Other debtors | 313 | 1,111
| 313 | 1,111

Protank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Trade creditors |  | 2,143 | 5,936
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 8 | 1,682 | -
Taxation and social security |  | 11,864 | 7,906
Accruals and deferred income |  | 1,800 | 1,800
Other creditors |  | - | 2,865
|  | 17,489 | 18,507

7 | Dividends

|  | 2024 |  | 2023
|  | £ |  | £
Interim dividend of £25,000.00 (2023 - £40,000.00) per ordinary share |  | 25,000 |  | 40,000

8 | Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

| 2024 £ | 2023 £
Remuneration | 1,517 | 9,858

Protank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Loans to related parties

2024 | Key management £ | Total £
At start of period | 124 | 124
Repaid | (1,806) | (1,806)
At end of period | (1,682) | (1,682)

2023 | Key management £ | Total £
At start of period | 3,804 | 3,804
Repaid | (3,680) | (3,680)
At end of period | 124 | 124

Terms of loans to related parties

The balance was owed by the Director to the company on an non-fixed repayment period at 0% interest.

9 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary share of £1 each | 1,000 | 1,000 | 1,000 | 1,000