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REGISTERED NUMBER: 03667247 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

DRAINS ARE US LIMITED

DRAINS ARE US LIMITED (REGISTERED NUMBER: 03667247)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DRAINS ARE US LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: S P Clifford
A S Clifford





REGISTERED OFFICE: 80 John OGaunt Road
Kenilworth
Warwickshire
CV8 1DZ





REGISTERED NUMBER: 03667247 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

DRAINS ARE US LIMITED (REGISTERED NUMBER: 03667247)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,260 1,247

CURRENT ASSETS
Stocks - 1,290
Debtors 5 16,731 29,762
Cash at bank 12,065 5,089
28,796 36,141
CREDITORS
Amounts falling due within one year 6 34,870 32,884
NET CURRENT (LIABILITIES)/ASSETS (6,074 ) 3,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,186

4,504

CREDITORS
Amounts falling due after more than one
year

7

10,000

12,222
NET ASSETS/(LIABILITIES) 186 (7,718 )

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings 86 (7,818 )
SHAREHOLDERS' FUNDS 186 (7,718 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

DRAINS ARE US LIMITED (REGISTERED NUMBER: 03667247)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by:





S P Clifford - Director


DRAINS ARE US LIMITED (REGISTERED NUMBER: 03667247)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Drains Are Us Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


DRAINS ARE US LIMITED (REGISTERED NUMBER: 03667247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Going concern
The financial statements have been prepared on the going concern concept. This assumes that the company will achieve a profitable level of trading and will continue to enjoy the support of its directors. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 38,560
Additions 15,325
At 30 November 2024 53,885
DEPRECIATION
At 1 December 2023 37,313
Charge for year 312
At 30 November 2024 37,625
NET BOOK VALUE
At 30 November 2024 16,260
At 30 November 2023 1,247

DRAINS ARE US LIMITED (REGISTERED NUMBER: 03667247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,954 18,390
Other debtors 777 11,372
16,731 29,762

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,222 4,593
Trade creditors 8,664 6,469
Taxation and social security 13,023 10,012
Other creditors 10,961 11,810
34,870 32,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,000 12,222

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest.Amounts advanced during the period were £nil (2023 - £11,079) and repayments amounting to £11,079 (2023 - nil). At the year end the amount owing to the company was £nil (2023 - £11,079).