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REGISTERED NUMBER: 10383681 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DRAINAGE FACILITIES MANAGEMENT LTD

DRAINAGE FACILITIES MANAGEMENT LTD (REGISTERED NUMBER: 10383681)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DRAINAGE FACILITIES MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Roach
M Clowery





REGISTERED OFFICE: Unit 3a
Hardwick Road Industrial Estate
Great Gransden
Sandy
Beds
SG19 3BJ





REGISTERED NUMBER: 10383681 (England and Wales)





ACCOUNTANTS: Bradshaw Johnson
Chartered Accountants
Croft Chambers
11 Bancroft
Hitchin
Hertfordshire
SG5 1JQ

DRAINAGE FACILITIES MANAGEMENT LTD (REGISTERED NUMBER: 10383681)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,516,312 1,978,712

CURRENT ASSETS
Stocks 226,483 147,846
Debtors 6 581,941 627,165
Cash at bank 342,316 338,129
1,150,740 1,113,140
CREDITORS
Amounts falling due within one year 7 564,537 649,693
NET CURRENT ASSETS 586,203 463,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,102,515

2,442,159

CREDITORS
Amounts falling due after more than one year 8 (1,322,716 ) (1,576,661 )

PROVISIONS FOR LIABILITIES (197,914 ) (215,480 )
NET ASSETS 581,885 650,018

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 581,785 649,918
581,885 650,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

DRAINAGE FACILITIES MANAGEMENT LTD (REGISTERED NUMBER: 10383681)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 20 September 2024 and were signed on its behalf by:




M Clowery - Director



A Roach - Director


DRAINAGE FACILITIES MANAGEMENT LTD (REGISTERED NUMBER: 10383681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Drainage Facilities Management 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 15% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

DRAINAGE FACILITIES MANAGEMENT LTD (REGISTERED NUMBER: 10383681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 124,914 25,471 3,145,962 6,945 3,303,292
Additions 163 1,347 175,201 - 176,711
Disposals - - (189,348 ) - (189,348 )
At 31 March 2024 125,077 26,818 3,131,815 6,945 3,290,655
DEPRECIATION
At 1 April 2023 52,760 14,238 1,257,277 305 1,324,580
Charge for year 24,297 3,848 444,382 3,472 475,999
Eliminated on disposal - - (26,236 ) - (26,236 )
At 31 March 2024 77,057 18,086 1,675,423 3,777 1,774,343
NET BOOK VALUE
At 31 March 2024 48,020 8,732 1,456,392 3,168 1,516,312
At 31 March 2023 72,154 11,233 1,888,685 6,640 1,978,712

DRAINAGE FACILITIES MANAGEMENT LTD (REGISTERED NUMBER: 10383681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 3,210,762
Additions 146,701
Disposals (189,348 )
Transfer to ownership (251,368 )
At 31 March 2024 2,916,747
DEPRECIATION
At 1 April 2023 1,274,831
Charge for year 415,796
Eliminated on disposal (26,236 )
Transfer to ownership (171,675 )
At 31 March 2024 1,492,716
NET BOOK VALUE
At 31 March 2024 1,424,031
At 31 March 2023 1,935,931

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 499,190 586,553
Other debtors 29,879 11,718
Prepayments and accrued income 52,872 28,894
581,941 627,165

DRAINAGE FACILITIES MANAGEMENT LTD (REGISTERED NUMBER: 10383681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 369,712 433,792
Trade creditors 41,448 91,607
Tax 693 -
Social security and other taxes 23,763 19,481
Pension liability 375 -
VAT 59,903 26,996
Other creditors 10,685 36,968
Factoring creditor 53,102 36,568
Directors' current accounts 3,111 -
Accruals and deferred income 1,745 4,281
564,537 649,693

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 1,322,716 1,576,661

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 95,486 244,472

9. SECURED DEBTS

The company debts are secured by a fixed and a floating charge over all assets and undertakings both present and future.

10. ULTIMATE CONTROLLING PARTY

The directors, Mr M Clowery and Mr A Roach, both own 50% of the share capital and therefore jointly control the company.