Company Registration No. 05968445 (England and Wales)
Drains Ahead Limited
Unaudited accounts
for the year ended 31 March 2024
Drains Ahead Limited
Unaudited accounts
Contents
Drains Ahead Limited
Company Information
for the year ended 31 March 2024
Directors
D J O Avis
K M Avis
Company Number
05968445 (England and Wales)
Registered Office
Southbridge House
Southbridge Place
Croydon
CR0 4HA
Accountants
Keywhites Limited
26 Grisedale Gardens
Purley
Surrey
CR8 1EN
Drains Ahead Limited
Statement of financial position
as at 31 March 2024
Tangible assets
155,189
79,046
Cash at bank and in hand
61,420
128,715
Creditors: amounts falling due within one year
(218,870)
(166,115)
Net current assets
18,784
56,693
Total assets less current liabilities
173,973
135,739
Creditors: amounts falling due after more than one year
(130,244)
(113,134)
Provisions for liabilities
Deferred tax
(33,743)
(15,018)
Called up share capital
100
100
Profit and loss account
9,886
7,487
Shareholders' funds
9,986
7,587
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by
D J O Avis
Director
Company Registration No. 05968445
Drains Ahead Limited
Notes to the Accounts
for the year ended 31 March 2024
Drains Ahead Limited is a private company, limited by shares, registered in England and Wales, registration number 05968445. The registered office is Southbridge House, Southbridge Place, Croydon, CR0 4HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Drains Ahead Limited
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
42,639
91,793
2,667
4,812
141,911
Additions
22,320
134,398
100
1,700
158,518
Disposals
(18,168)
(29,767)
-
(4,146)
(52,081)
At 31 March 2024
46,791
196,424
2,767
2,366
248,348
At 1 April 2023
26,846
31,155
1,823
3,041
62,865
Charge for the year
7,765
43,177
236
550
51,728
On disposals
(11,117)
(7,442)
-
(2,875)
(21,434)
At 31 March 2024
23,494
66,890
2,059
716
93,159
At 31 March 2024
23,297
129,534
708
1,650
155,189
At 31 March 2023
15,793
60,638
844
1,771
79,046
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
82,048
16,415
Amounts falling due within one year
Trade debtors
87,132
45,943
Other debtors
89,102
48,150
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
49,395
48,747
Obligations under finance leases and hire purchase contracts
20,183
4,151
Trade creditors
12,330
16,242
Taxes and social security
134,924
95,460
Other creditors
1,858
1,500
Loans from directors
180
15
Drains Ahead Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
88,761
21,607
8
Average number of employees
During the year the average number of employees was 6 (2023: 5).