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REGISTERED NUMBER: 05157925 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

EXPRESS DRAINAGE LIMITED

EXPRESS DRAINAGE LIMITED (REGISTERED NUMBER: 05157925)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXPRESS DRAINAGE LIMITED

Company Information
for the year ended 31 March 2024







DIRECTOR: M Bridle



REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB



REGISTERED NUMBER: 05157925 (England and Wales)



ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB



BANKERS: National Westminster Bank Plc
239 South Coast Road
Peacehaven
BN10 8LX

EXPRESS DRAINAGE LIMITED (REGISTERED NUMBER: 05157925)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 23,300 30,614

CURRENT ASSETS
Debtors 5 15,706 18,256
Cash at bank 35,932 31,796
51,638 50,052
CREDITORS
Amounts falling due within one year 6 (23,621 ) (19,785 )
NET CURRENT ASSETS 28,017 30,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,317

60,881

CREDITORS
Amounts falling due after more than one
year

7

(6,250

)

(11,250

)

PROVISIONS FOR LIABILITIES 8 (5,825 ) (5,817 )
NET ASSETS 39,242 43,814

CAPITAL AND RESERVES
Called up share capital 9 2 2
Capital redemption reserve 1 1
Retained earnings 39,239 43,811
SHAREHOLDERS' FUNDS 39,242 43,814

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.

EXPRESS DRAINAGE LIMITED (REGISTERED NUMBER: 05157925)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2024 and were signed by:





M Bridle - Director


EXPRESS DRAINAGE LIMITED (REGISTERED NUMBER: 05157925)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Express Drainage Limited Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company Information page.

The presentational currency of the financial statements is the Pound Sterling (£).

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 represents the fair value of consideration received net of VAT and trade discounts. Revenue from the sale of drainage services is recognised at the point of sale.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Tools & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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

EXPRESS DRAINAGE LIMITED (REGISTERED NUMBER: 05157925)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The director has a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Tools and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 47,220 43,578 3,168 93,966
Additions 4,873 - 316 5,189
Disposals (28,408 ) (13,500 ) (2,603 ) (44,511 )
At 31 March 2024 23,685 30,078 881 54,644
DEPRECIATION
At 1 April 2023 34,344 25,840 3,168 63,352
Charge for year 1,836 4,230 104 6,170
Eliminated on disposal (22,894 ) (12,681 ) (2,603 ) (38,178 )
At 31 March 2024 13,286 17,389 669 31,344
NET BOOK VALUE
At 31 March 2024 10,399 12,689 212 23,300
At 31 March 2023 12,876 17,738 - 30,614

EXPRESS DRAINAGE LIMITED (REGISTERED NUMBER: 05157925)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,811 18,256
Other debtors 895 -
15,706 18,256

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Taxation and social security 14,233 12,773
Other creditors 4,388 2,012
23,621 19,785

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,250 11,250

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,825 5,817

Deferred
tax
£   
Balance at 1 April 2023 5,817
Provided during year 8
Accelerated capital allowances
Balance at 31 March 2024 5,825

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2