THE DRAINAGE COMPANY LIMITED

Company Registration Number:
06940485 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

THE DRAINAGE COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

THE DRAINAGE COMPANY LIMITED

Company Information

for the Period Ended 30 June 2023




Director: Jonathan Hirst
Registered office: 20-22
Wenlock Road
London
England
N1 7GU
Company Registration Number: 06940485 (England and Wales)

THE DRAINAGE COMPANY LIMITED

Directors' Report Period Ended 30 June 2023

The directors present their report with the financial statements of the company for the period ended 30 June 2023

Principal Activities

Sales of drainage materials for private drainage systems

Political and charitable donations

None

Directors

The directors shown below have held office during the whole of the period from 01 July 2022 to 30 June 2023
Jonathan Hirst

This report was approved by the board of directors on 15 March 2024
And Signed On Behalf Of The Board By:

Name: Jonathan Hirst
Status: Director

THE DRAINAGE COMPANY LIMITED

Balance sheet

As at 30 June 2023


Notes

2023
£

2022
£
Fixed assets
Total fixed assets: - -
Current assets
Debtors: 4 4,439,883 3,727,892
Total current assets: 4,439,883 3,727,892
Creditors: amounts falling due within one year: 5 ( 4,487,525 ) ( 3,768,888 )
Net current assets (liabilities): ( 47,642 ) ( 40,996 )
Total assets less current liabilities: ( 47,642 ) ( 40,996 )
Total net assets (liabilities): ( 47,642 ) ( 40,996 )

The notes form part of these financial statements

THE DRAINAGE COMPANY LIMITED

Balance sheet continued

As at 30 June 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: ( 47,643 ) ( 40,997 )
Shareholders funds: ( 47,642 ) ( 40,996 )

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 15 March 2024
And Signed On Behalf Of The Board By:

Name: Jonathan Hirst
Status: Director

The notes form part of these financial statements

THE DRAINAGE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Land & Buildings 0% on cost per annum, Plant & Equipment 10% on cost per annum, Fixtures & Fittings 20% on cost per annum, Office Equipment 33% on cost per annum, Motor Vehicles 25% on cost per annum.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    Stocks and work -in-progress 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 expenditure and an appropriate proportion of fixed and variable overheads.

    Other accounting policies

    Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred.

THE DRAINAGE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 2 2

THE DRAINAGE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 3. Off balance sheet disclosure

    No

THE DRAINAGE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Debtors


2023
£

2022
£
Trade debtors 4,439,883 3,727,892
Total 4,439,883 3,727,892

THE DRAINAGE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5.Creditors: amounts falling due within one year note


2023
£

2022
£
Trade creditors 4,487,525 3,768,888
Total 4,487,525 3,768,888