REGISTERED NUMBER: 04385793 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

24-7 DRAINS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M P Chesman

Mrs L S Chesman

SECRETARY:

Mrs L S Chesman

REGISTERED OFFICE:

2 Old Cottages

Gainsborough Road

Gate Burton

GAINSBOROUGH

Lincolnshire

DN21 5BA

REGISTERED NUMBER:

04385793 (England and Wales)

ACCOUNTANTS:

Shucksmith Accountants (Gainsborough) Limited

94-96 Oswald Road

SCUNTHORPE

North Lincolnshire

DN15 7PA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,184

9,684

7,184

9,684

CURRENT ASSETS

Debtors

6

18,594

17,721

Cash at bank

16,362

28,305

34,956

46,026

CREDITORS

Amounts falling due within one year

7

16,947

19,812

NET CURRENT ASSETS

18,009

26,214

TOTAL ASSETS LESS CURRENT LIABILITIES

25,193

35,898

CREDITORS

Amounts falling due after more than one year

8

(651

)

(7,560

)

PROVISIONS FOR LIABILITIES

11

(1,365

)

(1,840

)

NET ASSETS

23,177

26,498

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

23,077

26,398

SHAREHOLDERS' FUNDS

23,177

26,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

Mr M P Chesman - Director

Mrs L S Chesman - Director

1.	STATUTORY INFORMATION

24-7 Drains 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its useful life of ten years. This amount has now been fully written off.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

55,000

AMORTISATION

At 1 April 2024

and 31 March 2025

55,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

19,441

18,412

6,898

44,751

Additions

-

-

916

916

Disposals

(4,500

)

-

-

(4,500

)

At 31 March 2025

14,941

18,412

7,814

41,167

DEPRECIATION

At 1 April 2024

18,592

10,863

5,612

35,067

Charge for year

718

1,887

810

3,415

Eliminated on disposal

(4,499

)

-

-

(4,499

)

At 31 March 2025

14,811

12,750

6,422

33,983

NET BOOK VALUE

At 31 March 2025

130

5,662

1,392

7,184

At 31 March 2024

849

7,549

1,286

9,684

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

18,341

17,243

Prepayments and accrued income

253

478

18,594

17,721

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 9)

3,347

3,347

Trade creditors

1,979

875

Corporation tax

3,684

4,321

Social security and other taxes

455

1,820

VAT

3,940

7,613

Other creditors

1,020

283

Directors' current accounts

1,613

941

Accruals and deferred income

909

612

16,947

19,812

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 9)

651

7,560

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank loans

3,347

3,347

Amounts falling due between one and two years:

Bank loans - 1-2 years

651

4,818

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

2,742

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

3,998

10,907

11.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

1,365

1,840

Deferred

tax

£

Balance at 1 April 2024

1,840

Accelerated capital allowances

(475

)

Balance at 31 March 2025

1,365

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Retained

earnings

£

At 1 April 2024

26,398

Profit for the year

13,679

Dividends

(17,000

)

At 31 March 2025

23,077

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors Mr M and Mrs L Chesman, charged the company £624 (2024 - £624) for the use of home as office.

15.	RELATED PARTY DISCLOSURES

During the year, total dividends of £17,000 (2024 - £20,000) were paid to the directors .

At 31 March 2025 there was a balance owing to the directors Mr M Chesman and Mrs L Chesman, of £1,613 (2024 - £941).

This balance has been shown in Creditors.

16.	ULTIMATE CONTROLLING PARTY

The controlling parties are the directors Mr M and Mrs L Chesman.