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REGISTERED NUMBER: 07452609 (England and Wales)














METROPOLITAN DRAINAGE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023






METROPOLITAN DRAINAGE LIMITED (REGISTERED NUMBER: 07452609)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


METROPOLITAN DRAINAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTOR: T.D. Wightman



REGISTERED OFFICE: 137, Station Road,
Chingford,
London
E4 6AG



REGISTERED NUMBER: 07452609 (England and Wales)



ACCOUNTANTS: Cobbin Floyd Ltd
t/as Findlay Wetherfield Scott & Co
Chartered Accountants
137, Station Road,
Chingford,
London
E4 6AG



BANKERS: Lloyds Bank
11, The Broadway,
Loughton,
Essex
IG10 3SW

METROPOLITAN DRAINAGE LIMITED (REGISTERED NUMBER: 07452609)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1
Tangible assets 5 - 25,042
- 25,043

CURRENT ASSETS
Stocks - 640
Debtors 6 40,652 71,056
Cash at bank 322,322 10,749
362,974 82,445
CREDITORS
Amounts falling due within one year 7 79,503 81,899
NET CURRENT ASSETS 283,471 546
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,471

25,589

PROVISIONS FOR LIABILITIES - 5,827
NET ASSETS 283,471 19,762

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 283,470 19,761
SHAREHOLDERS' FUNDS 283,471 19,762

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

METROPOLITAN DRAINAGE LIMITED (REGISTERED NUMBER: 07452609)

BALANCE SHEET - continued
30TH NOVEMBER 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 director and authorised for issue on 2nd August 2024 and were signed by:





T.D. Wightman - Director


METROPOLITAN DRAINAGE LIMITED (REGISTERED NUMBER: 07452609)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Metropolitan Drainage 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.

Franchise costs
Franchise costs acquired in 2011 are being written off over their estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

METROPOLITAN DRAINAGE LIMITED (REGISTERED NUMBER: 07452609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

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 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
costs
£   
Cost
At 1st December 2022 50,000
Disposals (50,000 )
At 30th November 2023 -
Amortisation
At 1st December 2022 49,999
Eliminated on disposal (49,999 )
At 30th November 2023 -
Net book value
At 30th November 2023 -
At 30th November 2022 1

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1st December 2022 39,329 2,099 61,182 4,160 106,770
Additions - - - 984 984
Disposals (39,329 ) (2,099 ) (61,182 ) (5,144 ) (107,754 )
At 30th November 2023 - - - - -
Depreciation
At 1st December 2022 29,539 2,099 46,446 3,644 81,728
Charge for year 2,597 - 4,824 341 7,762
Eliminated on disposal (32,136 ) (2,099 ) (51,270 ) (3,985 ) (89,490 )
At 30th November 2023 - - - - -
Net book value
At 30th November 2023 - - - - -
At 30th November 2022 9,790 - 14,736 516 25,042

METROPOLITAN DRAINAGE LIMITED (REGISTERED NUMBER: 07452609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,824 67,337
Other debtors 30,000 1,224
Taxes 5,292 -
Directors' current accounts 3,536 -
Prepayments - 2,495
40,652 71,056

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,144 20,254
Corporation tax 72,109 13,216
Social security and other taxes - 25,624
Other creditors - 10,361
Directors' current accounts - 7,824
Accrued expenses 6,250 4,620
79,503 81,899

8. SECURED DEBTS

There is a debenture in favour of the company's bankers over the whole of the company's assets as security for the bank loan and other short term borrowings.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The amount owed by the director at the balance sheet date was £3,536 which has been cleared since.

10. ULTIMATE CONTROLLING PARTY

The controlling party is T.D. Wightman.