Silverfin false 31/10/2022 01/11/2021 31/10/2022 D Brunn 21/06/2004 B Townsend 21/06/2004 23 October 2023 The principal activity of the Company during the financial year is that of drainage surveyors. 05159286 2022-10-31 05159286 bus:Director1 2022-10-31 05159286 bus:Director2 2022-10-31 05159286 2021-10-31 05159286 core:CurrentFinancialInstruments 2022-10-31 05159286 core:CurrentFinancialInstruments 2021-10-31 05159286 core:ShareCapital 2022-10-31 05159286 core:ShareCapital 2021-10-31 05159286 core:RetainedEarningsAccumulatedLosses 2022-10-31 05159286 core:RetainedEarningsAccumulatedLosses 2021-10-31 05159286 core:PlantMachinery 2021-10-31 05159286 core:Vehicles 2021-10-31 05159286 core:FurnitureFittings 2021-10-31 05159286 core:ComputerEquipment 2021-10-31 05159286 core:PlantMachinery 2022-10-31 05159286 core:Vehicles 2022-10-31 05159286 core:FurnitureFittings 2022-10-31 05159286 core:ComputerEquipment 2022-10-31 05159286 2021-11-01 2022-10-31 05159286 bus:FullAccounts 2021-11-01 2022-10-31 05159286 bus:SmallEntities 2021-11-01 2022-10-31 05159286 bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 05159286 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 05159286 bus:Director1 2021-11-01 2022-10-31 05159286 bus:Director2 2021-11-01 2022-10-31 05159286 core:PlantMachinery 2021-11-01 2022-10-31 05159286 core:Vehicles 2021-11-01 2022-10-31 05159286 core:FurnitureFittings 2021-11-01 2022-10-31 05159286 core:ComputerEquipment core:TopRangeValue 2021-11-01 2022-10-31 05159286 2020-11-01 2021-10-31 05159286 core:ComputerEquipment 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure

Company No: 05159286 (England and Wales)

INDEPENDENT DRAINAGE LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2022
Pages for filing with the registrar

INDEPENDENT DRAINAGE LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2022

Contents

INDEPENDENT DRAINAGE LIMITED

BALANCE SHEET

As at 31 October 2022
INDEPENDENT DRAINAGE LIMITED

BALANCE SHEET (continued)

As at 31 October 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 41,812 59,568
41,812 59,568
Current assets
Stocks 4 0 2,650
Debtors 5 27,322 45,850
Cash at bank and in hand 61,038 118,624
88,360 167,124
Creditors: amounts falling due within one year 6 ( 87,395) ( 97,415)
Net current assets 965 69,709
Total assets less current liabilities 42,777 129,277
Provision for liabilities ( 7,945) ( 11,318)
Net assets 34,832 117,959
Capital and reserves
Called-up share capital 100 100
Profit and loss account 34,732 117,859
Total shareholders' funds 34,832 117,959

For the financial year ending 31 October 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Independent Drainage Limited (registered number: 05159286) were approved and authorised for issue by the Board of Directors on 23 October 2023. They were signed on its behalf by:

D Brunn
Director
INDEPENDENT DRAINAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2022
INDEPENDENT DRAINAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Independent Drainage Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, and reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 November 2021 54,061 104,319 8,904 13,824 181,108
Disposals 0 ( 16,270) 0 0 ( 16,270)
At 31 October 2022 54,061 88,049 8,904 13,824 164,838
Accumulated depreciation
At 01 November 2021 43,858 56,938 7,180 13,564 121,540
Charge for the financial year 1,531 11,845 259 260 13,895
Disposals 0 ( 12,409) 0 0 ( 12,409)
At 31 October 2022 45,389 56,374 7,439 13,824 123,026
Net book value
At 31 October 2022 8,672 31,675 1,465 0 41,812
At 31 October 2021 10,203 47,381 1,724 260 59,568

4. Stocks

2022 2021
£ £
Work in progress 0 2,650

5. Debtors

2022 2021
£ £
Trade debtors 20,511 36,332
Other debtors 6,811 9,518
27,322 45,850

6. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 15,166 31,337
Taxation and social security 49,961 52,454
Obligations under finance leases and hire purchase contracts 0 6,521
Other creditors 22,268 7,103
87,395 97,415