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REGISTERED NUMBER: 03294191 (England and Wales)















DRAINCARE (LEIC) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






DRAINCARE (LEIC) LIMITED (REGISTERED NUMBER: 03294191)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


DRAINCARE (LEIC) LIMITED (REGISTERED NUMBER: 03294191)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 66,055 82,401
66,055 82,401

CURRENT ASSETS
Stocks 500 500
Debtors 6 516,352 441,953
Cash at bank and in hand 951,096 1,021,488
1,467,948 1,463,941
CREDITORS
Amounts falling due within one year 7 106,162 120,339
NET CURRENT ASSETS 1,361,786 1,343,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,427,841

1,426,003

PROVISIONS FOR LIABILITIES 16,513 20,600
NET ASSETS 1,411,328 1,405,403

CAPITAL AND RESERVES
Called up share capital 8 35 35
Retained earnings 9 1,411,293 1,405,368
SHAREHOLDERS' FUNDS 1,411,328 1,405,403

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 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.

DRAINCARE (LEIC) LIMITED (REGISTERED NUMBER: 03294191)

BALANCE SHEET - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





J Peacock - Director


DRAINCARE (LEIC) LIMITED (REGISTERED NUMBER: 03294191)

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


1. STATUTORY INFORMATION

Draincare (Leic) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03294191

Registered office: Harborough House
No.1 London Road
Oadby
Leicester
LE2 5DL

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost, 25% on reducing balance, 20% on cost and 10% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income 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.


DRAINCARE (LEIC) LIMITED (REGISTERED NUMBER: 03294191)

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


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 12,500
AMORTISATION
At 1 April 2023
and 31 March 2024 12,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

DRAINCARE (LEIC) LIMITED (REGISTERED NUMBER: 03294191)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 202,995
Additions 2,273
At 31 March 2024 205,268
DEPRECIATION
At 1 April 2023 120,594
Charge for year 18,619
At 31 March 2024 139,213
NET BOOK VALUE
At 31 March 2024 66,055
At 31 March 2023 82,401

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 247,547 44,135
Other debtors 267,123 397,818
514,670 441,953

Amounts falling due after more than one year:
Other debtors 1,682 -

Aggregate amounts 516,352 441,953

DRAINCARE (LEIC) LIMITED (REGISTERED NUMBER: 03294191)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 16,908 8,184
Taxation and social security 74,276 81,072
Other creditors 14,978 31,083
106,162 120,339

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
35 Ordinary £1 35 35

9. RESERVES
Retained
earnings
£   

At 1 April 2023 1,405,368
Profit for the year 105,091
Dividends (99,166 )
At 31 March 2024 1,411,293