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COMPANY REGISTRATION NUMBER: 05384727
Keep Clean Drain Services Limited
Filleted Unaudited Financial Statements
31 March 2025
Keep Clean Drain Services Limited
Financial Statements
Year ended 31 March 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Keep Clean Drain Services Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
4
600,000
600,000
Current assets
Cash at bank and in hand
296
344
Creditors: amounts falling due within one year
5
89,456
117,105
--------
----------
Net current liabilities
89,160
116,761
----------
----------
Total assets less current liabilities
510,840
483,239
Provisions
Taxation including deferred tax
84,850
84,850
----------
----------
Net assets
425,990
398,389
----------
----------
Capital and reserves
Called up share capital
6
105
105
Profit and loss account
425,885
398,284
----------
----------
Shareholders funds
425,990
398,389
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Keep Clean Drain Services Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 10 July 2025 , and are signed on behalf of the board by:
Mr. G. J. Rawlings
Mr. M. V. Page
Director
Director
Company registration number: 05384727
Keep Clean Drain Services Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 26, Vale Industrial Park, 170 Rowan Road, London, SW16 5BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable from properties rented during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Investment property
Total
£
£
Cost or valuation
At 1 April 2024 and 31 March 2025
600,000
600,000
----------
----------
Depreciation
At 1 April 2024 and 31 March 2025
----------
----------
Carrying amount
At 31 March 2025
600,000
600,000
----------
----------
At 31 March 2024
600,000
600,000
----------
----------
The investment property is included at a fair value of £600,000 and has a historical cost of £260,600. The property was valued by the directors at fair value at the reporting date.
5. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
13
Accruals and deferred income
1,000
1,000
Corporation tax
7,400
7,363
Other creditors
81,056
108,729
--------
----------
89,456
117,105
--------
----------
6. Called up share capital
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary A shares of £ 1 each
100
100
100
100
Ordinary B, C, D, E and F shares of £ 1 each
5
5
5
5
----
----
----
----
105
105
105
105
----
----
----
----
The 'B', 'C', 'D', 'E' and 'F' Ordinary shares have no voting rights or any right to participate in a distribution on the winding up of the company.
7. Related party transactions
Transactions with related parties, such as are required to be disclosed under FRS 102 were as follows:
20252024
££
Balances owed by/(owed to):
Other related parties81,056108,729
------------------
The amounts owed by/(owed to) related parties are in respect of short term interest free loans.