REGISTERED NUMBER: 01448387 (England and Wales)

Isotank Services Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

J Wilson

A J Leighton

REGISTERED OFFICE:

Limerick Road

Dormanstown

Redcar

Cleveland

TS10 5JU

REGISTERED NUMBER:

01448387 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

The directors present their strategic report for the year ended 31 December 2024.

ECONOMIC OVERVIEW

For the financial year ending December 2024, market conditions have continued to be challenging and we have seen the continued contraction of the European chemical market due to less manufacturing taking place. To combat this, we have monitored our cost base and therefore capital spend given the high cost of capital and supply chain issues. Customer volume and flows have not been steady, which makes planning and investment decisions a little more difficult.

At the start of the year in America we had two incidents which unfortunately led to two fatalities. These incidents lead to a change in our cleaning policies and process. This also led to a temporary loss of revenue while operations stopped and new ways of working put in place. The change in practice also meant we incurred additional cost in this type of close entry cleaning.

PERFORMANCE OF BUSINESS

The Company's principal activity is providing a shared service function for its Subsidiaries. Overall the performance of the group has achieved a net profit position even after including £1.4m of Management charges from our US parent Company.

In the year, we have continued to look at new investments and growth opportunities, investing in our sites and fixed assets, to maintain the competitive advantage and incurred lower cost for newer assets.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the company may be broadly grouped into categories of financial, commercial and regulatory.

Even before the in the Ukraine war inflation had risen significantly with many central banks tightening monetary policy. We aim to control our cost as much as possible, by hedging our energy cost and having energy surcharges in place with our customers. To maintain a strong financial position and generate cash for ongoing investment, we aim to use our group position to seek more favourable rates with suppliers. From the use of technology we monitor fuel consumption and seek to improve our efficiencies.

The group operates in a competitive market and is committed to delivering a service that adds value to our customers and through training and investment aims to ensure sustainable future growth. We are mindful that financial pressures on us also affect our customers and suppliers and as such we continue to implement strong financial disciplines to manage the risk, just as our customers do with us.

Safety, Health, Environmental and Quality ("SHEQ") issues are a major focus of the Company. Following the incidents at the start of 2024 this has been given even more emphasis. Additional experienced SHEQ staff have been recruited, industry leading policies and KPIs have been introduced to help staff understand the safety culture that we are enforcing. Each site has 12 Golden rules to follow and work by which allows focus and ownership.

The directors acknowledge their requirement under the Companies Act 2006 to report the principal risks and uncertainties of the businesses together with a comprehensive analysis of development and performance using financial key performance indicators. Given the competitive commercial environment the directors are of the opinion that disclosure of any further information would be prejudicial to the growth and future performance of the group and as such have taken the decision to limit disclosure to that provided in the financial statements and to the information provided above.

SECTION 172(1) STATEMENT

The directors have considered the matters set out in section 172 (1) (a) to (f) when performing their duty to

promote the success of the company and the group. The directors continue to ensure that any business decisions consider the long-term impact on all key stakeholders. This includes when evaluating acquisition and growth opportunities. During the period there has been a strong focus on the continued integration of previous acquisitions to ensure that going forward the business can function in a single consistent manner. This integration promotes employee development and allows supplier and customer relationships to be elevated to a group level. Environmental issues continue to be a major focus of the business and are a key consideration as the Board compiles its strategy. The board encourages sharing of best practices between group companies to ensure the business operates at the highest possible standard and endeavours for all members to be treated fairly.

In addition, the directors consider the company's employees, suppliers and customers to be integral to its continued success. The directors have reported on engagement with employees, suppliers, customers and others within the Report of the Directors.

OUTLOOK OF BUSINESS

Over the next 12 months we are expecting the market place to be very difficult. Changes in global policies and tariffs will see volume moves to the cheapest operating location. However, we will negate this by providing our customers with the added advantage of being a "one stop shop". The changing of our operating name to Depot Connect International (DCI) across all of our businesses globally will cement the marketing and brand awareness of the business.

ON BEHALF OF THE BOARD:

A J Leighton - Director

30 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company.

DIVIDENDS

No dividends will be distributed for the year ended 31st December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

J Wilson

A J Leighton

Other changes in directors holding office are as follows:

T Morsovillo - resigned 1 June 2024

DISABLED EMPLOYEES

The company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a disabled person. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

EMPLOYEE INVOLVEMENT

During the year, the policy of providing employees with information about the company has been continued through internal media methods in which employees have also been encouraged to present their suggestions and views on the company's performance. Regular meetings are held between local management and employees to allow a free flow of information and ideas.

ENGAGEMENT WITH EMPLOYEES

The directors make use of the senior management teams throughout the group to ensure that all employees are kept up to date with key and relevant information which may concern them as employees. Each group location consults its employees as necessary when making material decisions which may affect them. Employees are encouraged to have an interest in the performance of the company and a general awareness of the group's performance.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The directors continuously consider key stakeholder relationships and develops them through the senior management team. The group considers relationships with customers and suppliers on a global scale and maintains strong relationships at a local and group level. Organic and acquisitive group actions take into consideration these business relationships.

STREAMLINED ENERGY AND CARBON REPORTING

The company consumes less than 40,000 kWh of energy each year, therefore energy efficiency disclosures under the Streamlined Energy and Carbon Reporting regulations ("SECR") are not included. On a consolidated basis there is no additional disclosure on the basis that all subsidiary companies are not required to report under the SECR in their own right due to either being non- large companies or consuming less than 40,000 kWh of energy annually.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A J Leighton - Director

30 September 2025

Opinion

We have audited the financial statements of Isotank Services Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, tax legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

enquiring of management as to actual and potential litigation and claims; and

-

reviewing correspondence with relevant regulators and the company's legal advisors.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Stocks FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

1 October 2025

TURNOVER

1,966,456

2,115,709

Cost of sales

685,381

818,427

GROSS PROFIT

1,281,075

1,297,282

Administrative expenses

3,720,991

2,805,772

(2,439,916

)

(1,508,490

)

Other operating income

1,526,776

1,537,453

OPERATING (LOSS)/PROFIT

4

(913,140

)

28,963

Income from shares in group undertakings

1,400,000

1,000,000

Interest receivable and similar income

43,744

26,393

1,443,744

1,026,393

530,604

1,055,356

Interest payable and similar expenses

5

104,335

-

PROFIT BEFORE TAXATION

426,269

1,055,356

Tax on profit

6

205,994

(66,348

)

PROFIT FOR THE FINANCIAL YEAR

220,275

1,121,704

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

220,275

1,121,704

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

4,575,314

2,290,707

Investments

9

3,509,907

3,508,987

8,085,221

5,799,694

CURRENT ASSETS

Debtors

10

11,602,297

10,701,200

Cash at bank and in hand

791,947

856,359

12,394,244

11,557,559

CREDITORS

Amounts falling due within one year

11

8,733,123

7,930,835

NET CURRENT ASSETS

3,661,121

3,626,724

TOTAL ASSETS LESS CURRENT LIABILITIES

11,746,342

9,426,418

CREDITORS

Amounts falling due after more than one year

12

(1,913,533

)

-

PROVISIONS FOR LIABILITIES

14

(186,116

)

-

NET ASSETS

9,646,693

9,426,418

CAPITAL AND RESERVES

Called up share capital

15

416,000

416,000

Share premium

16

70,009

70,009

Capital redemption reserve

16

70,180

70,180

Retained earnings

16

9,090,504

8,870,229

SHAREHOLDERS' FUNDS

9,646,693

9,426,418

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

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

416,000

7,748,525

70,009

70,180

8,304,714

Changes in equity

Total comprehensive income

-

1,121,704

-

-

1,121,704

Balance at 31 December 2023

416,000

8,870,229

70,009

70,180

9,426,418

Changes in equity

Total comprehensive income

-

220,275

-

-

220,275

Balance at 31 December 2024

416,000

9,090,504

70,009

70,180

9,646,693

1.	STATUTORY INFORMATION

Isotank Services is a private limited company registered in the United Kingdom. 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 applicable accounting standards including Financial Reporting Standard 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis 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 group's current year performance and the group forecasts for the period to December 2025, 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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

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 and equipment is recognised as it becomes due.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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:

Leasehold land and buildings

10 - 50 years

Freehold buildings

10 - 50 years

Plant and equipment

3 - 10 years

Fixtures and fittings

3 - 10 years

Motor vehicles

2 - 6 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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

2024

2023

£

£

Wages and salaries

1,633,413

1,287,544

Social security costs

190,161

173,072

Other pension costs

68,340

55,600

1,891,914

1,516,216

The average number of employees during the year was as follows:

2024

2023

Management and administration

35

28

2024

2023

£

£

Directors' remuneration

-

250,000

4.	OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024

2023

£

£

Depreciation - owned assets

721,017

853,414

Auditors' remuneration

45,106

44,630

Foreign exchange differences

1

252

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank loan interest

2,091

-

Hire purchase interest

102,244

-

104,335

-

6.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

-

8,851

Deferred tax

205,994

(75,199

)

Tax on profit

205,994

(66,348

)

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit before tax

426,269

1,055,356

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

106,567

263,839

Effects of:

Expenses not deductible for tax purposes

11,331

19,810

Income not taxable for tax purposes

(350,000

)

(250,000

)

Group relief

438,096

(99,997

)

Total tax charge/(credit)

205,994

(66,348

)

7.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

150,000

Disposals

(150,000

)

At 31 December 2024

-

AMORTISATION

At 1 January 2024

150,000

Eliminated on disposal

(150,000

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

8.	TANGIBLE FIXED ASSETS

Freehold

Short

Long

property

leasehold

leasehold

£

£

£

COST

At 1 January 2024

1,531,064

100,000

654,271

Additions

44,248

-

-

Disposals

-

-

-

At 31 December 2024

1,575,312

100,000

654,271

DEPRECIATION

At 1 January 2024

640,951

100,000

308,563

Charge for year

35,636

-

-

Eliminated on disposal

-

-

-

At 31 December 2024

676,587

100,000

308,563

NET BOOK VALUE

At 31 December 2024

898,725

-

345,708

At 31 December 2023

890,113

-

345,708

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

3,003,430

42,892

8,305,973

13,637,630

Additions

-

-

2,961,376

3,005,624

Disposals

-

-

(914,431

)

(914,431

)

At 31 December 2024

3,003,430

42,892

10,352,918

15,728,823

DEPRECIATION

At 1 January 2024

2,961,173

42,892

7,293,344

11,346,923

Charge for year

6,757

-

678,624

721,017

Eliminated on disposal

-

-

(914,431

)

(914,431

)

At 31 December 2024

2,967,930

42,892

7,057,537

11,153,509

NET BOOK VALUE

At 31 December 2024

35,500

-

3,295,381

4,575,314

At 31 December 2023

42,257

-

1,012,629

2,290,707

The cost of assets held that are used for renting out under operating leases are £13,326,398 (2023 £11,163,272) and the accumulated depreciation is £8,858,362 (2023 £9,070,710).

The cost of assets held under hire purchase agreements as lessee are £2,796,079 (2023 £nil) and the accumulated depreciation is £59,324 (2023 £nil).

9.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

3,508,987

Additions

920

At 31 December 2024

3,509,907

NET BOOK VALUE

At 31 December 2024

3,509,907

At 31 December 2023

3,508,987

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Isotank Depot Services Limited

Registered office: the same as can be found on page 1 of these financial statements.

Nature of business: Repair and cleaning services

%

Class of shares:

holding

Ordinary

100.00