REGISTERED NUMBER: 05677332

Isotank (2006) Limited

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Wilson

A J Leighton

REGISTERED OFFICE:

Limerick Road

Dormanstown

Redcar

Cleveland

TS10 5JU

REGISTERED NUMBER:

05677332

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

HU2 8BA

FIXED ASSETS

Tangible assets

4

1,027,353

1,040,949

CURRENT ASSETS

Debtors

5

210,000

8,129

CREDITORS

Amounts falling due within one year

6

(29,406

)

23,094

NET CURRENT ASSETS/(LIABILITIES)

239,406

(14,965

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,266,759

1,025,984

CREDITORS

Amounts falling due after more than one year

7

194,371

-

NET ASSETS

1,072,388

1,025,984

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

1,072,386

1,025,982

SHAREHOLDERS' FUNDS

1,072,388

1,025,984

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 30 September 2025 and were signed on its behalf by:

A J Leighton - Director

1.	STATUTORY INFORMATION

Isotank (2006) 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

The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention modified to include certain items at fair value.

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

Going concern

The directors, having considered the forecasts for the period to December 2025 and the current year results have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the rental of property is recognised as it becomes due.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold buildings 10 - 50 years

Taxation

Current tax represents the amount payable or receivable in respect of the taxable profit or loss for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Retirement benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2024

and 31 December 2024

1,279,999

DEPRECIATION

At 1 January 2024

239,050

Charge for year

13,596

At 31 December 2024

252,646

NET BOOK VALUE

At 31 December 2024

1,027,353

At 31 December 2023

1,040,949

Included in cost of land and buildings is freehold land of £ 600,234 (2023 - £ 600,234 ) which is not depreciated.

The assets held are used for renting out under operating leases.

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

210,000

-

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

8,129

Aggregate amounts

210,000

8,129

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

(29,406

)

23,094

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

194,371

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

£1

2

2

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Stocks FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

10.	OTHER FINANCIAL COMMITMENTS

There is a group VAT registration with the parent company and fellow subsidiaries. The maximum potential liability at the year end was £24,101 (2023 £nil).

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions under Financial Reporting Standard 102 1A in respect of transactions with its parent and fellow subsidiary companies on the basis that the consolidated accounts of the group are publicly available.

12.	ULTIMATE CONTROLLING PARTY

The company is not controlled by any one party.