Company Registration No. 11375551 (England and Wales)
DRAIN JET SURVEYS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
DRAIN JET SURVEYS LIMITED
COMPANY INFORMATION
Director
Mr L G Smith
Company number
11375551
Registered office
9 Keren Drive
Brockhill Village
Norton
Worcester
Worcestershire
WR5 2SD
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
118 High Street
Bromsgrove
Worcestershire
B61 8ET
DRAIN JET SURVEYS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
DRAIN JET SURVEYS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DRAIN JET SURVEYS LIMITED FOR THE YEAR ENDED 31 MAY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Drain Jet Surveys Limited for the year ended 31 May 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Drain Jet Surveys Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Drain Jet Surveys Limited and state those matters that we have agreed to state to the Board of Directors of Drain Jet Surveys Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Drain Jet Surveys Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Drain Jet Surveys Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Drain Jet Surveys Limited. You consider that Drain Jet Surveys Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Drain Jet Surveys Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
15 January 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
DRAIN JET SURVEYS LIMITED
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
42,922
53,801
Current assets
Debtors
4
150,727
96,201
Cash at bank and in hand
291,525
229,315
442,252
325,516
Creditors: amounts falling due within one year
5
(317,351)
(244,198)
Net current assets
124,901
81,318
Total assets less current liabilities
167,823
135,119
Provisions for liabilities
6
(7,206)
(9,065)
Net assets
160,617
126,054
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
160,517
125,954
Total equity
160,617
126,054

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 15 January 2024.
Mr L G Smith
Director
Company Registration No. 11375551
DRAIN JET SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

Drain Jet Surveys Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Keren Drive, Brockhill Village, Norton, Worcester, Worcestershire, WR5 2SD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on reducing balance
Computer equipment
25% on cost
Motor vehicles
20% on reducing balance
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DRAIN JET SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Retirement benefits

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

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 11 (2022 - 10).

DRAIN JET SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
3
Tangible fixed assets
Plant and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2022
47,681
1,544
52,999
102,224
Additions
564
1,253
-
0
1,817
At 31 May 2023
48,245
2,797
52,999
104,041
Depreciation and impairment
At 1 June 2022
22,774
820
24,829
48,423
Depreciation charged in the year
6,370
692
5,634
12,696
At 31 May 2023
29,144
1,512
30,463
61,119
Carrying amount
At 31 May 2023
19,101
1,285
22,536
42,922
At 31 May 2022
24,907
724
28,170
53,801
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
149,833
85,596
Other debtors
894
10,605
150,727
96,201
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
176,446
120,058
Taxation and social security
36,473
39,594
Other creditors
104,432
84,546
317,351
244,198
6
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
7,206
9,065
DRAIN JET SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
100
100
8
Ultimate controlling party

The ultimate controlling party is Mr L G Smith.

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