Swansea Drains Limited - Filleted accounts

Registered number

07884865

Swansea Drains Limited

Filleted Accounts

31 January 2026

Swansea Drains Limited
Registered number:		07884865
Balance Sheet
as at 31 January 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	4		743,192			447,526

Current assets
Stocks		17,456			12,520
Debtors	5	494,670			352,612
Cash at bank and in hand		315,235			190,391
		827,361			555,523

Creditors: amounts falling due within one year	6	(629,320)			(441,420)

Net current assets			198,041			114,103

Total assets less current liabilities			941,233			561,629

Creditors: amounts falling due after more than one year	7		(344,429)			(232,928)

Provisions for liabilities			(185,798)			(111,882)


Net assets			411,006			216,819

Capital and reserves
Called up share capital			100			100
Profit and loss account			410,906			216,719

Shareholders' funds			411,006			216,819

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Gary Cleaves
Director
Approved by the board on 13 April 2026

Swansea Drains Limited
Notes to the Accounts
for the year ended 31 January 2026


1	Accounting policies

	Basis of preparation
	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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% reducing balance
	Motor Vehicles	25% reducing balance



	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			22		23


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 February 2025					7,500
	At 31 January 2026					7,500

	Amortisation
	At 1 February 2025					7,500
	At 31 January 2026					7,500

	Net book value
	At 31 January 2026					-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 February 2025	130,628		770,395		901,023
	Additions	64,402		392,737		457,139
	Disposals	-		(15,000)		(15,000)
	At 31 January 2026	195,030		1,148,132		1,343,162

	Depreciation
	At 1 February 2025	108,724		344,773		453,497
	Charge for the year	9,684		147,043		156,727
	On disposals	-		(10,254)		(10,254)
	At 31 January 2026	118,408		481,562		599,970

	Net book value
	At 31 January 2026	76,622		666,570		743,192
	At 31 January 2025	21,904		425,622		447,526


5	Debtors			2026		2025
£					£

	Trade debtors			490,485		347,622
	Other debtors			4,185		4,990
				494,670		352,612


6	Creditors: amounts falling due within one year			2026		2025
£					£

	Bank loans and overdrafts			70,373		10,000
	Obligations under finance lease and hire purchase contracts			128,123		126,324
	Trade creditors			255,981		186,066
	Directors' current accounts			-		16,145
	Taxation and social security costs			110,639		66,252
	Other creditors			64,204		36,633
				629,320		441,420


7	Creditors: amounts falling due after one year			2026		2025
£					£

	Bank loans			80,544		4,117
	Obligations under finance lease and hire purchase contracts			263,885		228,811
				344,429		232,928


8	Controlling party

	Currently the Company is controlled by husband and wife, Mr. and Mrs Gary Cleaves who between themselves own 55% of the issued share capital of the Company.


9	Other information

	Swansea Drains Limited is a private company limited by shares and incorporated in Wales. Its registered office is:
	Unit 15/16 Swansea Valley Business Park
	Ystalyfera
	Swansea
	SA9 2EB