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REGISTERED NUMBER: 10513251 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Drain Away Drains Limited

Drain Away Drains Limited (Registered number: 10513251)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Drain Away Drains Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs R L Mansfield
Mr T B Mansfield





REGISTERED OFFICE: 1 Russell Road
Leasingham
Sleaford
Lincolnshire
NG34 8LQ





REGISTERED NUMBER: 10513251 (England and Wales)





ACCOUNTANTS: D Hubbard Accountancy Limited
3 Clover House
Boston Road
Sleaford
Lincolnshire
NG34 7HD

Drain Away Drains Limited (Registered number: 10513251)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 124,567 130,400

CURRENT ASSETS
Debtors 5 97,010 54,746
Cash at bank 76,056 94,531
173,066 149,277
CREDITORS
Amounts falling due within one year 6 242,604 209,626
NET CURRENT LIABILITIES (69,538 ) (60,349 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,029

70,051

CREDITORS
Amounts falling due after more than one
year

7

54,956

70,042
NET ASSETS 73 9

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 71 7
SHAREHOLDERS' FUNDS 73 9

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Drain Away Drains Limited (Registered number: 10513251)

Balance Sheet - continued
31 December 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 31 July 2024 and were signed on its behalf by:





Mr T B Mansfield - Director


Drain Away Drains Limited (Registered number: 10513251)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Drain Away Drains 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.

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 8 (2022 - 7 ) .

Drain Away Drains Limited (Registered number: 10513251)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 210,602
Additions 26,884
Disposals (11,175 )
At 31 December 2023 226,311
DEPRECIATION
At 1 January 2023 80,202
Charge for year 30,066
Eliminated on disposal (8,524 )
At 31 December 2023 101,744
NET BOOK VALUE
At 31 December 2023 124,567
At 31 December 2022 130,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 97,010 54,746

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 7,000 7,000
Hire purchase contracts 20,866 17,810
Trade creditors 8,320 10,298
NEST pension 213 457
Tax 18,772 2,524
Social security and other taxes 2,694 2,666
VAT 23,687 16,247
Directors' current accounts 159,297 150,982
Accrued expenses 1,755 1,642
242,604 209,626

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 15,750 22,750
Hire purchase contracts 39,206 47,292
54,956 70,042

Drain Away Drains Limited (Registered number: 10513251)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary 1 2 2

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £62,000 (2022 - £45,600) were paid to the directors .

Drain Away Drains Limited

Report of the Accountants to the Directors of
Drain Away Drains Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on pages two to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






D Hubbard Accountancy Limited
3 Clover House
Boston Road
Sleaford
Lincolnshire
NG34 7HD


31 July 2024