Drain Master Services Limited 31/12/2024 iXBRL

Company registration number: NI636252

Drain Master Services Limited

Unaudited filleted financial statements

31 December 2024

Drain Master Services Limited

Contents

Directors and other information

Accountants report

Balance sheet

Notes to the financial statements

Drain Master Services Limited

Directors and other information


	Directors	Ciara Trolan
		Damien Trolan


	Company number	NI636252


	Registered office	6 Church Street
		Banbridge
		Co Down
		BT32 4AA


	Business address	8-9 Dundrod Enterprise Centre
		Dundrod Road, Nutts Corner
		Crumlin, Belfast
		BT29 4SR


	Accountants	Jones Peters Chartered Accountants
		Hughes House
		6 Church Street
		Banbridge
		BT32 4AA




	Bankers	Bank of Ireland
		Market Street
		Magherafelt
		BT45 6EE

Drain Master Services Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Drain Master Services Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Drain Master Services Limited for the year ended 31 December 2024 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the board of directors of Drain Master Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Drain Master Services Limited and state those matters that we have agreed to state to the board of directors of Drain Master Services Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Drain Master Services Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Drain Master Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Drain Master Services Limited. You consider that Drain Master Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Drain Master Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jones Peters Chartered Accountants

Hughes House

6 Church Street

Banbridge

BT32 4AA

29 October 2025

Drain Master Services Limited

Balance sheet

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	89,966		60,704
		_______		_______
			89,966		60,704

Current assets
Debtors	6	61,117		60,958
Cash at bank and in hand		91,000		265,984
		_______		_______
		152,117		326,942
Creditors: amounts falling due
within one year	7	( 113,179)		( 279,488)
		_______		_______
Net current assets			38,938		47,454
			_______		_______
Total assets less current liabilities			128,904		108,158

			_______		_______
Net assets			128,904		108,158
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			128,903		108,157
			_______		_______
Shareholders funds			128,904		108,158
			_______		_______

For the year ending 31 December 2024 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.

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 Profit and loss account and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 October 2025 , and are signed on behalf of the board by:

Damien Trolan

Director

Company registration number: NI636252

Drain Master Services Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Hughes House, 6 Church Street, Banbridge, Co Down, BT32 4AA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out by the directors 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. 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2024	273,890	39,965	313,855
Additions	6,803	44,950	51,753
	_______	_______	_______
At 31 December 2024	280,693	84,915	365,608
	_______	_______	_______
Depreciation
At 1 January 2024	222,887	30,264	253,151
Charge for the year	11,561	10,930	22,491
	_______	_______	_______
At 31 December 2024	234,448	41,194	275,642
	_______	_______	_______
Carrying amount
At 31 December 2024	46,245	43,721	89,966
	_______	_______	_______
At 31 December 2023	51,003	9,701	60,704
	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	61,117	60,957
Other debtors	-	1
	_______	_______
	61,117	60,958
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	9,710	7,316
Corporation tax	17,068	41,216
Social security and other taxes	20,901	22,956
Other creditors	65,500	208,000
	_______	_______
	113,179	279,488
	_______	_______

8. Related party transactions

Drain Master Services Limited is a wholly owned subsidiary of Gallywally Enterprises Limited. At 31 December 2024 Drain Master Services Limited owed Gallywally Enterprises Limited £60,000 (2023: £200,000).

9. Controlling party

By virtue of its shareholding Gallywally Enterprises Limited is deemed to be the controlling party of the company.