REGISTERED NUMBER: 08817829 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

KELLY TANKS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

1,882,915

1,820,015

CURRENT ASSETS

Stocks

122,666

38,964

Debtors

6

581,071

467,051

Cash at bank and in hand

320,706

187,875

1,024,443

693,890

CREDITORS

Amounts falling due within one year

7

708,828

339,087

NET CURRENT ASSETS

315,615

354,803

TOTAL ASSETS LESS CURRENT LIABILITIES

2,198,530

2,174,818

CREDITORS

Amounts falling due after more than one year

8

70,065

122,748

NET ASSETS

2,128,465

2,052,070

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,127,465

2,051,070

SHAREHOLDERS' FUNDS

2,128,465

2,052,070

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 September 2025 and were signed on its behalf by:

Mrs K A G Bryant - Director

Mr M G Stubbs - Director

1.	STATUTORY INFORMATION

Kelly Tanks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08817829

Registered office:

Rawnslow Farm

Sandon Bank

Stafford

Staffordshire

ST18 9TE

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These 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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to revenue, and provisions are its critical accounting policies.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Hire Fleet

Hire fleet consists of water filtration tanks that the company produces to hire to customers. The hire fleet is valued based on costs of production and is capitalised as plant and machinery then depreciated. When fleet items are sold to customers, the asset is disposed of to the profit and loss account.

Stocks

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2024

-

68,593

2,242,566

Additions

189,335

10,750

134,221

At 31 December 2024

189,335

79,343

2,376,787

DEPRECIATION

At 1 January 2024

-

13,697

584,728

Charge for year

18,934

7,934

268,809

At 31 December 2024

18,934

21,631

853,537

NET BOOK VALUE

At 31 December 2024

170,401

57,712

1,523,250

At 31 December 2023

-

54,896

1,657,838

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

172

170,659

10,324

2,492,314

Additions

32,206

27,000

2,849

396,361

At 31 December 2024

32,378

197,659

13,173

2,888,675

DEPRECIATION

At 1 January 2024

107

68,255

5,512

672,299

Charge for year

2,459

32,349

2,976

333,461

At 31 December 2024

2,566

100,604

8,488

1,005,760

NET BOOK VALUE

At 31 December 2024

29,812

97,055

4,685

1,882,915

At 31 December 2023

65

102,404

4,812

1,820,015

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

559,417

339,530

Other debtors

21,654

127,521

581,071

467,051

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

27,360

28,331

Trade creditors

358,169

88,964

Taxation and social security

66,182

10,880

Other creditors

247,117

200,912

708,828

339,087

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

5,834

15,834

Hire purchase contracts

64,231

106,914

70,065

122,748