Company registration number 08190489 (England and Wales)
DRAIN 365 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
DRAIN 365 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
DRAIN 365 LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
161,209
144,643
Current assets
Debtors
5
36,129
61,237
Cash at bank and in hand
106,294
164,271
142,423
225,508
Creditors: amounts falling due within one year
6
(194,982)
(139,466)
Net current (liabilities)/assets
(52,559)
86,042
Net assets
108,650
230,685
Capital and reserves
Called up share capital
110
110
Profit and loss reserves
108,540
230,575
Total equity
108,650
230,685
For the financial year ended 31 August 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 22 January 2025 and are signed on its behalf by:
Mrs S Gotts
Director
Company registration number 08190489 (England and Wales)
DRAIN 365 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Drain 365 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gautam House, 1 - 3 Shenley Avenue, Ruislip Manor, Middlesex, HA4 6BP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 213, is being amortised evenly over its estimated useful life of three years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Plant and equipment
-25 % on reducing balance
Computers
-25% on reducing balance
Motor vehicles
-25% on reducing balance
1.5
Pension Costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
DRAIN 365 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
60,000
Amortisation and impairment
At 1 September 2023 and 31 August 2024
60,000
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023
230,849
1,166
127,258
359,273
Additions
5,993
75,110
81,103
Disposals
(42,696)
(42,696)
At 31 August 2024
236,842
1,166
159,672
397,680
Depreciation and impairment
At 1 September 2023
145,124
797
68,709
214,630
Depreciation charged in the year
23,059
92
30,744
53,895
Eliminated in respect of disposals
(32,054)
(32,054)
At 31 August 2024
168,183
889
67,399
236,471
Carrying amount
At 31 August 2024
68,659
277
92,273
161,209
At 31 August 2023
85,725
369
58,549
144,643
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
36,129
61,237
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
90,508
61,993
Other taxation and social security
12,066
20,925
Other creditors
92,408
56,548
194,982
139,466