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REGISTERED NUMBER: 09856300 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

SW DRAINAGE SOLUTIONS LTD

SW DRAINAGE SOLUTIONS LTD (REGISTERED NUMBER: 09856300)

Contents of the Financial Statements
for the year ended 30 November 2023










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


SW DRAINAGE SOLUTIONS LTD

Company Information
for the year ended 30 November 2023







Director: C H Stewart





Registered office: Unit 20
The Circle
Queen Elizabeth Street
London
SE1 2JE





Registered number: 09856300 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

Accountants' Report to the Director
on the Unaudited Financial Statements of
SW Drainage Solutions Ltd


The following reproduces the text of the report prepared for the director 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SW Drainage Solutions Ltd for the year ended 30 November 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that SW Drainage Solutions Ltd 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 SW Drainage Solutions Ltd. You consider that SW Drainage Solutions Ltd 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 SW Drainage Solutions Ltd. 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.






Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA


8 August 2024

SW DRAINAGE SOLUTIONS LTD (REGISTERED NUMBER: 09856300)

Balance Sheet
30 November 2023

2023 2022
as restated
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,537,293 1,996,066

Current assets
Debtors 5 3,683,628 2,675,080
Cash at bank and in hand 169,306 267,145
3,852,934 2,942,225
Creditors
Amounts falling due within one year 6 2,275,867 2,207,170
Net current assets 1,577,067 735,055
Total assets less current liabilities 5,114,360 2,731,121

Creditors
Amounts falling due after more than one
year

7

(2,631,615

)

(1,730,705

)

Provisions for liabilities 9 (805,289 ) (427,750 )
Net assets 1,677,456 572,666

Capital and reserves
Called up share capital 10 100 100
Retained earnings 1,677,356 572,566
Shareholders' funds 1,677,456 572,666

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

SW DRAINAGE SOLUTIONS LTD (REGISTERED NUMBER: 09856300)

Balance Sheet - continued
30 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 August 2024 and were signed by:





C H Stewart - Director


SW DRAINAGE SOLUTIONS LTD (REGISTERED NUMBER: 09856300)

Notes to the Financial Statements
for the year ended 30 November 2023


1. Statutory information

SW Drainage Solutions Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

SW DRAINAGE SOLUTIONS LTD (REGISTERED NUMBER: 09856300)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 24 (2022 - 21 ) .

SW DRAINAGE SOLUTIONS LTD (REGISTERED NUMBER: 09856300)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


4. Tangible fixed assets
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
Cost
At 1 December 2022 - 2,896,053 8,557
Additions 100,000 1,287,635 1,525
At 30 November 2023 100,000 4,183,688 10,082
Depreciation
At 1 December 2022 - 1,034,606 3,621
Charge for year 4,167 536,490 1,520
At 30 November 2023 4,167 1,571,096 5,141
Net book value
At 30 November 2023 95,833 2,612,592 4,941
At 30 November 2022 - 1,861,447 4,936

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 December 2022 235,714 2,144 3,142,468
Additions 805,226 755 2,195,141
At 30 November 2023 1,040,940 2,899 5,337,609
Depreciation
At 1 December 2022 107,632 543 1,146,402
Charge for year 111,148 589 653,914
At 30 November 2023 218,780 1,132 1,800,316
Net book value
At 30 November 2023 822,160 1,767 3,537,293
At 30 November 2022 128,082 1,601 1,996,066

SW DRAINAGE SOLUTIONS LTD (REGISTERED NUMBER: 09856300)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 December 2022 2,536,303 106,664 2,642,967
Additions 1,025,572 536,088 1,561,660
At 30 November 2023 3,561,875 642,752 4,204,627
Depreciation
At 1 December 2022 812,897 37,623 850,520
Charge for year 477,701 91,721 569,422
At 30 November 2023 1,290,598 129,344 1,419,942
Net book value
At 30 November 2023 2,271,277 513,408 2,784,685
At 30 November 2022 1,723,406 69,041 1,792,447

5. Debtors: amounts falling due within one year
2023 2022
as restated
£    £   
Trade debtors 3,037,399 2,406,019
Other debtors 646,229 269,061
3,683,628 2,675,080

6. Creditors: amounts falling due within one year
2023 2022
as restated
£    £   
Bank loans and overdrafts 52,496 46,505
Hire purchase contracts 862,210 574,053
Trade creditors 895,362 1,187,256
Taxation and social security 306,016 353,026
Other creditors 159,783 46,330
2,275,867 2,207,170

SW DRAINAGE SOLUTIONS LTD (REGISTERED NUMBER: 09856300)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


7. Creditors: amounts falling due after more than one year
2023 2022
as restated
£    £   
Bank loans 95,371 147,868
Hire purchase contracts 2,536,244 1,582,837
2,631,615 1,730,705

8. Secured debts

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Hire purchase contracts 3,398,454 2,156,890

9. Provisions for liabilities
2023 2022
as restated
£    £   
Deferred tax
Accelerated capital allowances 805,289 427,750

Deferred
tax
£   
Balance at 1 December 2022 427,750
Accelerated capital allowances 377,539
Balance at 30 November 2023 805,289

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
100 Ordinary 1 100 100

11. Director's advances, credits and guarantees

At 30 November 2023 the directors owed the Company £402,185, interest is charged at 2.25%, there is no set repayment date.