Formatank Limited

Formatank Limited
Contents Page
For the year ended 31 March 2026

Company Information	1
Directors' Report	2
Accountants' Report	3
Income Statement	4
Statement of Financial Position	5
Notes to the Financial Statements	6

Formatank Limited
Company Information
For the year ended 31 March 2026

Director	Barry Thomas VEITCH
Registered Number	SC419774
Registered Office	Unit 8a Tweed Mills Dunsdale Road Selkirk TD7 5DZ
Accountants	NS24 Limited 8A Tweed Mills Dunsdale Road Selkirk TD7 5DZ

1

Formatank Limited
Directors' Report
For the year ended 31 March 2026

Director's report and financial statements

The directors present his/her/their annual report and the financial statements for the year ended 31 March 2026.

Directors

The directors who served the company throughout the year were as follows:

Gavin John VEITCH VEITCH (from 19/03/2012 to 05/12/2025)

Barry Thomas VEITCH (from 19/03/2012)

Statement of directors' responsibilities

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
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 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 UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
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. The directors 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:

----------------------------------
Barry Thomas VEITCH
Director

Date approved: 21 July 2026

2

Formatank Limited Accountants' Report For the year ended 31 March 2026
Accountant’s report You consider that the company is exempt from an audit for the year ended 31 March 2026 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. NS24 Limited 31 March 2026 NS24 Limited 8A Tweed Mills Dunsdale Road Selkirk TD7 5DZ 21 July 2026 3

Formatank Limited
Accountants' Report
For the year ended 31 March 2026

Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2026 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
NS24 Limited
31 March 2026

NS24 Limited
8A Tweed Mills
Dunsdale Road
Selkirk
TD7 5DZ
21 July 2026

3

Formatank Limited
Income Statement
For the year ended 31 March 2026

	2026 £	2025 £
Turnover	557,390	605,691
Cost of sales	(277,096)	(371,910)
Gross profit	280,294	233,781
Administrative expenses	(188,677)	(183,518)
Operating profit	91,617	50,263
Exceptional items	4,874	0
Interest payable and similar charges	(18,596)	(7,693)
Profit/(Loss) on ordinary activities before taxation	77,895	42,570
Tax on profit on ordinary activities	(20,999)	(9,300)
Profit/(Loss) for the financial year	56,896	33,270

4

Formatank Limited
Statement of Financial Position
As at 31 March 2026

	Notes	2026 £	2025 £
Fixed assets
Tangible fixed assets	3	47,755	36,788
		47,755	36,788
Current assets
Stocks	4	7,617	8,463
Debtors	5	390,508	200,523
Cash at bank and in hand		20,565	260
		418,690	209,246
Creditors: amount falling due within one year	6	(177,113)	(183,625)
Net current assets		241,577	25,621

Total assets less current liabilities		289,332	62,409
Creditors: amount falling due after more than one year	7	(45,213)	0
Accruals and deferred income		(177,090)	0
Net assets		67,029	62,409

Capital and reserves
Called up share capital		100	100
Profit and loss account		66,929	62,309
Shareholders' funds		67,029	62,409

For the year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 21 July 2026 and were signed on its behalf by:

-------------------------------
Barry Thomas VEITCH
Director

5

Formatank Limited
Notes to the Financial Statements
For the year ended 31 March 2026

General Information

Formatank Limited is a private company, limited by shares, registered in Scotland, registration number SC419774, registration address Unit 8a Tweed Mills, Dunsdale Road, Selkirk, TD7 5DZ.

The presentation currency is £ sterling.

1.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the income statement on a straight line basis.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Computer Equipment	25% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the year was 4 (2025 : 4).

3.

Tangible fixed assets

Cost or valuation	Plant and Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
At 01 April 2025	83,503	54,306	-	137,809
Additions	671	42,375	6,877	49,923
Disposals	(16,700)	(54,306)	(5,314)	(76,320)
At 31 March 2026	67,474	42,375	1,563	111,412
Depreciation
At 01 April 2025	64,197	38,845	4,258	107,300
Charge for year	4,994	10,594	331	15,919
On disposals	(16,700)	(38,845)	(4,017)	(59,562)
At 31 March 2026	52,491	10,594	572	63,657
Net book values
Closing balance as at 31 March 2026	14,983	31,781	991	47,755
Opening balance as at 01 April 2025	19,306	15,461	2,021	36,788

4.

Stocks

	2026 £		2025 £
Closing Stock.	7,617		8,463
	7,617		8,463

5.

Debtors: amounts falling due within one year

	2026 £	2025 £
Trade Debtors	387,732	181,899
Prepayments	2,776	0
Other Debtors	0	5,310
VAT	0	13,314
	390,508	200,523

6.

Creditors: amount falling due within one year

	2026 £	2025 £
Trade Creditors	40,621	70,777
Bank Loans & Overdrafts	36,445	19,010
Corporation Tax	30,645	17,587
PAYE & Other Taxes	4,400	2,675
Accrued Expenses	138	1,795
Other Creditors	29,999	67,187
Obligations under HP/Financial Leases	4,933	4,594
VAT	29,932	0
	177,113	183,625

7.

Creditors: amount falling due after more than one year

	2026 £		2025 £
Bank Loans & Overdrafts	33,646		0
Obligations Under HP/Financial Leases	11,567		0
	45,213		0

6

Registered Number: SC419774
Scotland
FORMATANK LIMITED

Unaudited Financial Statements

Period of accounts Start date: 01 April 2025 End date: 31 March 2026