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REGISTERED NUMBER: 10330384 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

DRAINFIX SERVICES LTD

DRAINFIX SERVICES LTD (REGISTERED NUMBER: 10330384)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRAINFIX SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: L Tyrrell





REGISTERED OFFICE: Unit 11 Robjohns Road
Chelmsford
CM1 3AG





REGISTERED NUMBER: 10330384 (England and Wales)






DRAINFIX SERVICES LTD (REGISTERED NUMBER: 10330384)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 5 157,711 125,310

CURRENT ASSETS
Stocks 29,000 5,000
Debtors 6 125,748 87,824
Cash at bank 132,928 19,242
287,676 112,066
CREDITORS
Amounts falling due within one year 7 (175,028 ) (170,697 )
NET CURRENT ASSETS/(LIABILITIES) 112,648 (58,631 )
TOTAL ASSETS LESS CURRENT LIABILITIES 270,359 66,679

CREDITORS
Amounts falling due after more than one year 8 (226,167 ) (127,962 )

PROVISIONS FOR LIABILITIES (39,428 ) -
NET ASSETS/(LIABILITIES) 4,764 (61,283 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 4,664 (61,383 )
SHAREHOLDERS' FUNDS 4,764 (61,283 )

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

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

DRAINFIX SERVICES LTD (REGISTERED NUMBER: 10330384)

BALANCE SHEET - continued
31 AUGUST 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 Profit and Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2024 and were signed by:





L Tyrrell - Director


DRAINFIX SERVICES LTD (REGISTERED NUMBER: 10330384)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Drainfix Services 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


DRAINFIX SERVICES LTD (REGISTERED NUMBER: 10330384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Retained Earnings, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2022 76,178 26,438 87,280 189,896
Additions 41,365 939 17,995 60,299
At 31 August 2023 117,543 27,377 105,275 250,195
DEPRECIATION
At 1 September 2022 22,348 10,635 31,603 64,586
Charge for year 12,684 3,179 12,035 27,898
At 31 August 2023 35,032 13,814 43,638 92,484
NET BOOK VALUE
At 31 August 2023 82,511 13,563 61,637 157,711
At 31 August 2022 53,830 15,803 55,677 125,310

DRAINFIX SERVICES LTD (REGISTERED NUMBER: 10330384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
as restated
£    £   
Trade debtors 81,318 87,824
Other debtors 44,430 -
125,748 87,824

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
as restated
£    £   
Bank loans and overdrafts 74,306 55,768
Hire purchase contracts 20,344 11,677
Trade creditors 37,045 71,571
Taxation and social security 30,351 27,692
Other creditors 12,982 3,989
175,028 170,697

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
as restated
£    £   
Bank loans 183,722 107,373
Hire purchase contracts 42,445 20,589
226,167 127,962

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: as restated
£    £   
100 Ordinary £1 100 100