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REGISTERED NUMBER: 06501247 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

24/7 DRAINAGE SOLUTIONS LIMITED

24/7 DRAINAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 06501247)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 May 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


24/7 DRAINAGE SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 May 2023







DIRECTORS: Mr L R Moore
Mrs E L Moore





SECRETARY: Mrs E L Moore





REGISTERED OFFICE: The Ivy House
1 Folly Lane
Petersfield
Hampshire
GU31 4AU





REGISTERED NUMBER: 06501247 (England and Wales)





ACCOUNTANTS: Wallis White & Co
Accountants and Tax Consultants
The Ivy House
1 Folly Lane
Petersfield
Hampshire
GU31 4AU

24/7 DRAINAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 06501247)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 157,092 148,124

CURRENT ASSETS
Debtors 5 73,469 229,527
Cash at bank 240,522 91,474
313,991 321,001
CREDITORS
Amounts falling due within one year 6 67,631 101,822
NET CURRENT ASSETS 246,360 219,179
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,452

367,303

CREDITORS
Amounts falling due after more than one
year

7

(9,365

)

(9,365

)

PROVISIONS FOR LIABILITIES (33,740 ) (33,740 )
NET ASSETS 360,347 324,198

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 360,345 324,196
SHAREHOLDERS' FUNDS 360,347 324,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

24/7 DRAINAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 06501247)

BALANCE SHEET - continued
31 May 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





Mr L R Moore - Director


24/7 DRAINAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 06501247)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 May 2023


1. STATUTORY INFORMATION

24/7 Drainage Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 5 ) .

24/7 DRAINAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 06501247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 May 2023


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 154,098 213,979 1,756 369,833
Additions 22,829 15,571 10,046 48,446
At 31 May 2023 176,927 229,550 11,802 418,279
DEPRECIATION
At 1 June 2022 90,967 129,632 1,110 221,709
Charge for year 12,894 24,980 1,604 39,478
At 31 May 2023 103,861 154,612 2,714 261,187
NET BOOK VALUE
At 31 May 2023 73,066 74,938 9,088 157,092
At 31 May 2022 63,131 84,347 646 148,124

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 53,114 171,864
Other debtors 20,355 57,663
73,469 229,527

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 4,999 22,485
Trade creditors 20,697 23,738
Taxation and social security 48,917 46,117
Other creditors (6,982 ) 9,482
67,631 101,822

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 9,365 9,365

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
2 Ordinary 1 2 2

24/7 DRAINAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 06501247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 May 2023


9. RESERVES
Retained
earnings
£   

At 1 June 2022 324,196
Profit for the year 164,149
Dividends (128,000 )
At 31 May 2023 360,345