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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
Page
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Drains Ahead Limited Company Information for the year ended 31 March 2024
Directors
D J O Avis K M Avis
Secretary
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
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Drains Ahead Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
155,189 
79,046 
Current assets
Debtors
176,234 
94,093 
Cash at bank and in hand
61,420 
128,715 
237,654 
222,808 
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)
Net assets
9,986 
7,587 
Capital and reserves
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
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Drains Ahead Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Deferred taxation
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
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
Pension costs
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.
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Drains Ahead Limited Notes to the Accounts for the year ended 31 March 2024
Leased assets
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 
Depreciation
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 
Net book value
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 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
82,048 
16,415 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
87,132 
45,943 
Other debtors
89,102 
48,150 
176,234 
94,093 
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 
218,870 
166,115 
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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 
£ 
£ 
Bank loans
41,483 
91,527 
Obligations under finance leases and hire purchase contracts
88,761 
21,607 
130,244 
113,134 
8
Average number of employees
During the year the average number of employees was 6 (2023: 5).
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