Company registration number 08190489 (England and Wales)
DRAIN 365 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
DRAIN 365 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
DRAIN 365 LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
144,643
84,115
Current assets
Debtors
5
61,237
46,319
Cash at bank and in hand
164,271
104,157
225,508
150,476
Creditors: amounts falling due within one year
6
(139,466)
(96,818)
Net current assets
86,042
53,658
Net assets
230,685
137,773
Capital and reserves
Called up share capital
110
110
Profit and loss reserves
230,575
137,663
Total equity
230,685
137,773
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 by the board of directors and authorised for issue on 16 April 2024 and are signed on its behalf by:
Mrs S Gotts
Director
Company registration number 08190489 (England and Wales)
DRAIN 365 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information
Drain 365 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gautam House, 1 - 3 Shenley Avenue, Ruislip Manor, Middlesex, HA4 6BP.
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.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 213, is being amortised evenly over its estimated useful life of three years.
1.4
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.
Plant and equipment
-25 % on reducing balance
Computers
-25% on reducing balance
Motor vehicles
-25% on reducing balance
1.5
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
7
6
DRAIN 365 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2022 and 31 August 2023
60,000
Amortisation and impairment
At 1 September 2022 and 31 August 2023
60,000
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2022
184,390
1,166
75,349
260,905
Additions
59,084
51,909
110,993
Disposals
(12,625)
(12,625)
At 31 August 2023
230,849
1,166
127,258
359,273
Depreciation and impairment
At 1 September 2022
126,923
674
49,193
176,790
Depreciation charged in the year
28,748
123
19,516
48,387
Eliminated in respect of disposals
(10,547)
(10,547)
At 31 August 2023
145,124
797
68,709
214,630
Carrying amount
At 31 August 2023
85,725
369
58,549
144,643
At 31 August 2022
57,467
492
26,156
84,115
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
61,237
46,319
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
61,993
61,340
Other taxation and social security
20,925
23,104
Other creditors
56,548
12,374
139,466
96,818