2023-01-012023-12-312023-12-31false13043938DRAIN CLEAN 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DRAIN CLEAN LTD

Registered Number
13043938
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

DRAIN CLEAN LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

MASTERS, Bradley
MASTERS, Samantha Jayne

Registered Address

Flat 4 Queen's Court
7 Marlborough Road
Bournemouth
BH4 8DB

Registered Number

13043938 (England and Wales)
DRAIN CLEAN LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets315,16722,167
Tangible assets421,00524,995
36,17247,162
Current assets
Debtors11,44912,800
Cash at bank and on hand8,3604,249
19,80917,049
Creditors amounts falling due within one year(7,452)(15,319)
Net current assets (liabilities)12,3571,730
Total assets less current liabilities48,52948,892
Creditors amounts falling due after one year(74,401)(78,625)
Net assets(25,872)(29,733)
Capital and reserves
Called up share capital100100
Profit and loss account(25,972)(29,833)
Shareholders' funds(25,872)(29,733)
The financial statements were approved and authorised for issue by the Board of Directors on 26 September 2024, and are signed on its behalf by:
MASTERS, Bradley
Director
Registered Company No. 13043938
DRAIN CLEAN LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Franchises - 20% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery30
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year11
3.Intangible assets

Total

£
Cost or valuation
At 01 January 2335,000
At 31 December 2335,000
Amortisation and impairment
At 01 January 2312,833
Charge for year7,000
At 31 December 2319,833
Net book value
At 31 December 2315,167
At 31 December 2222,167
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 2345,928
Additions22,512
Disposals(40,055)
At 31 December 2328,385
Depreciation and impairment
At 01 January 2320,933
Charge for year4,806
On disposals(18,359)
At 31 December 237,380
Net book value
At 31 December 2321,005
At 31 December 2224,995
5.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts-18,173