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Registration number: 12672496

H & R DRAINAGE LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

H & R DRAINAGE LIMITED

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

H & R DRAINAGE LIMITED

Company Information

Director

R E Thompson

Registered office

2 Falcon Gate
Shire Park
Welwyn Garden City
AL7 1TW

Accountants

K&S Professionals Limited
Chartered Certified Accountants
41 Rivington Crescent
Mill Hill
London
NW7 2LF

 

H & R DRAINAGE LIMITED

(Registration number: 12672496)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

59,329

5,748

Current assets

 

Debtors

5

69,762

31,112

Cash at bank and in hand

 

74,492

113,746

 

144,254

144,858

Creditors: Amounts falling due within one year

6

(41,794)

(49,278)

Net current assets

 

102,460

95,580

Net assets

 

161,789

101,328

Capital and reserves

 

Called up share capital

100

100

Retained earnings

161,689

101,228

Shareholders' funds

 

161,789

101,328

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2023
 

.........................................
R E Thompson
Director

 

H & R DRAINAGE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Falcon Gate
Shire Park
Welwyn Garden City
AL7 1TW

These financial statements were authorised for issue by the director on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

H & R DRAINAGE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 4).

 

H & R DRAINAGE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

1,020

996

6,100

8,116

Additions

-

1,790

63,235

65,025

Disposals

-

-

(6,100)

(6,100)

At 30 June 2023

1,020

2,786

63,235

67,041

Depreciation

At 1 July 2022

273

189

1,906

2,368

Charge for the year

187

428

8,997

9,612

Eliminated on disposal

-

-

(4,268)

(4,268)

At 30 June 2023

460

617

6,635

7,712

Carrying amount

At 30 June 2023

560

2,169

56,600

59,329

At 30 June 2022

747

807

4,194

5,748

5

Debtors

Current

2023
£

2022
£

Trade debtors

43,007

31,112

Other debtors

26,755

-

 

69,762

31,112

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

37,655

47,825

Accruals and deferred income

4,102

1,400

Other creditors

37

53

41,794

49,278

 

H & R DRAINAGE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Related party transactions

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

R E Thompson

(42)

126,797

(100,000)

26,755

         
       

 

2022

At 1 July 2021
£

At 30 June 2022
£

R E Thompson

(42)

(42)

     
   

 

At the year end the balance outstanding as due from the directors were £26,755. This included interest charged at HM Revenue & Customs Rates of £534.

The balance was repaid after the year end.