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Registered number: 01362025 INDEPENDENT TANK STORAGE ASSOCIATION (A company limited by guarantee) FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
INDEPENDENT TANK STORAGE ASSOCIATION (A company limited by guarantee) REGISTERED NUMBER: 01362025 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 2 |  | 2
|  |  | 2 |  | 2
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 20,369 |  | 11,919 |
Cash at bank and in hand | 6 | 304,570 |  | 257,008 |
|  | 324,939 |  | 268,927 |
Creditors: amounts falling due within one year | 7 | (59,611) |  | (31,863) |
Net current assets |  |  | 265,328 |  | 237,064
Total assets less current liabilities |  |  | 265,330 |  | 237,066
Net assets |  |  | 265,330 |  | 237,066
Capital and reserves |  |  |  |  |
Profit and loss account |  |  | 265,330 |  | 237,066
|  |  | 265,330 |  | 237,066
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INDEPENDENT TANK STORAGE ASSOCIATION (A company limited by guarantee) REGISTERED NUMBER: 01362025 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ A M Sriskanda
Director
Date: 24 March 2026
The notes on pages 3 to 6 form part of these financial statements. Page 2
INDEPENDENT TANK STORAGE ASSOCIATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
The company is a private company, limited by guarantee and incorporated in England. The registered office address is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ and the registered number is 01362025. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Page 3
INDEPENDENT TANK STORAGE ASSOCIATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | IT equipment | - | 33% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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INDEPENDENT TANK STORAGE ASSOCIATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost or valuation |
| At 1 January 2025 | 2,110
| At 31 December 2025 | 2,110
| Depreciation |
| At 1 January 2025 | 2,108
| At 31 December 2025 | 2,108
| Net book value |
| At 31 December 2025 | 2
| At 31 December 2024 | 2
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 11,538 | 20
| Other debtors | 185 | 3,959
| Prepayments and accrued income | 8,646 | 7,940
|  | 20,369 | 11,919
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 304,570 | 257,008
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INDEPENDENT TANK STORAGE ASSOCIATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 7,919 | 11,179
| Corporation tax | 12,626 | 12,624
| Other taxation and social security | 22,402 | -
| Accruals and deferred income | 16,664 | 8,060
|  | 59,611 | 31,863
8. | Company status
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
9. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 26 March 2026 by Mark Dickinson FCA (senior statutory auditor) on behalf of Shaw Gibbs (Audit) Limited.
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