THE DRAINAGE COMPANY LIMITED

Company Registration Number:
06940485 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 July 2015

End date: 30 June 2016

THE DRAINAGE COMPANY LIMITED

Abbreviated Balance sheet

As at 30 June 2016


Notes

2016
£

2015
£
Fixed assets
Total fixed assets: 0 0
Current assets
Debtors: 2 500,210 453,597
Total current assets: 500,210 453,597
Creditors: amounts falling due within one year: 3 ( 496,635 ) ( 453,052 )
Net current assets (liabilities): 3,575 545
Total assets less current liabilities: 3,575 545
Total net assets (liabilities): 3,575 545

The notes form part of these financial statements

THE DRAINAGE COMPANY LIMITED

Balance sheet continued

As at 30 June 2016


Notes

2016
£

2015
£
Capital and reserves
Called up share capital: 4 1 1
Profit and loss account: 3,574 544
Shareholders funds: 3,575 545

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 15 March 2017

SIGNED ON BEHALF OF THE BOARD BY:

Name: Jonathan Hirst
Status: Director

The notes form part of these financial statements

THE DRAINAGE COMPANY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 June 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008)

    Turnover policy

    The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Land & Buildings 0% on cost per annum, Plant & Equipment 10% on cost per annum, Fixtures & Fittings 20% on cost per annum, Office Equipment 33% on cost per annum, Motor Vehicles 25% on cost per annum.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

    Other accounting policies

    Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred.

THE DRAINAGE COMPANY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 June 2016

  • 2. Debtors


    2016
    £

    2015
    £
    Trade debtors: 500,210 453,597
    Total: 500,210 453,597

THE DRAINAGE COMPANY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 June 2016

  • 3. Creditors: amounts falling due within one year


    2016
    £

    2015
    £
    Trade creditors: 494,848 452,779
    Taxation and social security: 1,787 273
    Total: 496,635 453,052

THE DRAINAGE COMPANY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 30 June 2016

  • 4. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 1.00 1
    Preference shares: 0
    Total share capital (£): 1
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 1.00 1
    Preference shares: 0
    Total share capital (£): 1