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Registration number: 14824493

Raw Drainage Ltd

Unaudited Filleted Financial Statements

for the Period from 1 October 2023 to 30 April 2024

 

Raw Drainage Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Raw Drainage Ltd

Company Information

Directors

Mr Trevor Williams

Mr Shaun Russell

Registered office

Unit 10 Chettisham Park
Lynn Road
Chettisham, Ely
Cambridgeshire
CB6 1RY

Accountants

Mrs Victoria Anne Cooper
Red Shoes Accounting Services
Unit 7 E-Space North
181 Wisbech Road
Littleport
Cambridgeshire
CB6 1RA

 

Raw Drainage Ltd

(Registration number: 14824493)
Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

197,674

Tangible assets

5

163,658

 

361,332

Current assets

 

Debtors

6

224,256

Cash at bank and in hand

 

118,559

 

342,815

Creditors: Amounts falling due within one year

7

(212,047)

Net current assets

 

130,768

Total assets less current liabilities

 

492,100

Creditors: Amounts falling due after more than one year

7

(421,668)

Provisions for liabilities

(28,607)

Net assets

 

41,825

Capital and reserves

 

Called up share capital

8

100

Retained earnings

41,725

Shareholders' funds

 

41,825

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Raw Drainage Ltd

(Registration number: 14824493)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 14 November 2024 and signed on its behalf by:
 

Mr Trevor Williams
Director

   
     
 

Raw Drainage Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 10 Chettisham Park
Lynn Road
Chettisham, Ely
Cambridgeshire
CB6 1RY

These financial statements were authorised for issue by the Board on 14 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Raw Drainage Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Raw Drainage Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 12.

 

Raw Drainage Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 30 April 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

247,094

247,094

At 30 April 2024

247,094

247,094

Amortisation

Amortisation charge

49,420

49,420

At 30 April 2024

49,420

49,420

Carrying amount

At 30 April 2024

197,674

197,674

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

164,000

34,365

198,365

Disposals

(10,000)

-

(10,000)

At 30 April 2024

154,000

34,365

188,365

Depreciation

Charge for the period

21,791

4,374

26,165

Eliminated on disposal

(1,458)

-

(1,458)

At 30 April 2024

20,333

4,374

24,707

Carrying amount

At 30 April 2024

133,667

29,991

163,658

 

Raw Drainage Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 30 April 2024

6

Debtors

Current

2024
£

Trade debtors

221,647

Prepayments

2,609

 

224,256

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

65,000

Trade creditors

 

83,809

Taxation and social security

 

54,075

Accruals and deferred income

 

1,500

Other creditors

 

7,663

 

212,047

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

421,668


The loan is secured by a fixed and floating charge over the company's assets.

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

100

100

   

9

Related party transactions

At the period end, the company owed the directors £1,007 by way of an interest free loan.