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Registered Number: 12122786
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 November 2024

for

THE DRAIN GROUP LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 876,519    831,500 
Investments 4 2,100    2,100 
878,619    833,600 
Current assets      
Debtors 5 1,702    7,858 
Cash at bank and in hand 24,550    47,797 
26,252    55,655 
Creditors: amount falling due within one year 6 (49,929)   (214,459)
Net current assets (23,677)   (158,804)
 
Total assets less current liabilities 854,942    674,796 
Creditors: amount falling due after more than one year 7 (393,763)   (435,069)
Net assets 461,179    239,727 
 

Capital and reserves
     
Called up share capital 8 2,202    2,202 
Profit and loss account 458,977    237,525 
Shareholders' funds 461,179    239,727 
 


For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 02 May 2025 and were signed on its behalf by:


-------------------------------
T Buchanan
Director
1
General Information
The Drain Group Limited is a private company, limited by shares, registered in England and Wales, registration number 12122786, registration address 93 Cato Street, Nechells , Birmingham, West Midlands, B7 4TS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
The Company has transferred the significant risks and rewards of ownership to the buyer
The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
The amount of revenue can be measured reliably;
It is probable that the Company will receive the consideration due under the transaction; and
The costs incurred or to be incurred in respect of the transaction can be measured reliably.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Reducing Balance
Improvements to property 10% Reducing Balance
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like loans from related parties.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Improvements to property   Total
  £   £   £
At 01 December 2023 731,500    100,000    831,500 
Additions   45,019    45,019 
Disposals    
At 30 November 2024 731,500    145,019    876,519 
Depreciation
At 01 December 2023    
Charge for year    
On disposals    
At 30 November 2024    
Net book values
Closing balance as at 30 November 2024 731,500    145,019    876,519 
Opening balance as at 01 December 2023 731,500    100,000    831,500 


4.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 December 2023 2,100    2,100 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 November 2024 2,100    2,100 
The company's investments at the Balance Sheet date in the share capital of companies include the following:
Birmingham Drain Services Limited
Nature of business: Provider of blocked drain clearance services
                                                                                    %
Class of shares:                                                     holding
Ordinary Shares                                                     90.00


Staffordshire Drain Services Limited
Nature of business: Provider of blocked drain clearance services
                                                                                    %
Class of shares:                                                     holding
Ordinary Shares                                                    100.00

Warwickshire Drain Services Limited
Nature of business: Provider of blocked drain clearance services
                                                                                    %
Class of shares:                                                     holding
Ordinary Shares                                                     100.00


Worcestershire Drain Services Limited
Nature of business: Provider of blocked drain clearance services
                                                                                      %
Class of shares:                                                       holding
Ordinary Shares                                                      100.00

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 1,702    7,858 
1,702    7,858 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   1,380 
Bank Loans & Overdrafts 41,305    41,305 
Taxation and Social Security 7,422    4,333 
Other Creditors 1,202    167,441 
49,929    214,459 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 393,763    435,069 
393,763    435,069 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2,200 Ordinary shares of £1.00 each 2,200    2,200 
1 Class A share of £1.00 each  
1 Class B share of £1.00 each  
2,202    2,202 

2