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REGISTERED NUMBER: 14765613 (England and Wales)



















DRAINIAC LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 29 MARCH 2023 TO 31 MARCH 2024






DRAINIAC LTD (REGISTERED NUMBER: 14765613)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 MARCH 2023 TO 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


DRAINIAC LTD (REGISTERED NUMBER: 14765613)

BALANCE SHEET
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 93,439

CURRENT ASSETS
Debtors 5 61,703
Cash at bank 9,973
71,676
CREDITORS
Amounts falling due within one year 6 32,273
NET CURRENT ASSETS 39,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,842

CREDITORS
Amounts falling due after more than one
year

7

(56,921

)

PROVISIONS FOR LIABILITIES (17,754 )
NET ASSETS 58,167

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 58,067
SHAREHOLDERS' FUNDS 58,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DRAINIAC LTD (REGISTERED NUMBER: 14765613)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:




Mr K M W Chappory - Director



Ms S L Manley-Hutchings - Director


DRAINIAC LTD (REGISTERED NUMBER: 14765613)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 MARCH 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Drainiac Ltd 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: 14765613

Registered office: Traumerei, 20 Eastern Dene
Hazlemere
High Wycombe
Buckinghamshire
HP15 7BT

The presentation 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.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty

Turnover
Turnover is derived from drain clearing and is recognised when the customer has received the service. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates.

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 - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

DRAINIAC LTD (REGISTERED NUMBER: 14765613)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2023 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
Additions 12,954 90,812 1,159 104,925
At 31 March 2024 12,954 90,812 1,159 104,925
DEPRECIATION
Charge for period 2,534 8,920 32 11,486
At 31 March 2024 2,534 8,920 32 11,486
NET BOOK VALUE
At 31 March 2024 10,420 81,892 1,127 93,439

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 28,276
Other debtors 33,427
61,703

DRAINIAC LTD (REGISTERED NUMBER: 14765613)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2023 TO 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 12,936
Taxation and social security 13,430
Other creditors 5,907
32,273

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts 56,921

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2024:

£   
Mr K M W Chappory
Balance outstanding at start of period -
Amounts advanced 98,209
Amounts repaid (70,937 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period 27,272

9. RELATED PARTY DISCLOSURES

During the period, total dividends of £37,500 were paid to the directors .

At the balance sheet date, the company was owed £27,272.