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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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DRAIN LINE SOUTHERN LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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for |
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DRAIN LINE SOUTHERN LIMITED |
DRAIN LINE SOUTHERN LIMITED (REGISTERED NUMBER: 04933418) |
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Contents of the Financial Statements |
for the year ended 31 March 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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DRAIN LINE SOUTHERN LIMITED |
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Company Information |
for the year ended 31 March 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Preston Park House |
South Road |
Brighton |
East Sussex |
BN1 6SB |
DRAIN LINE SOUTHERN LIMITED (REGISTERED NUMBER: 04933418) |
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Balance Sheet |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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PROVISIONS FOR LIABILITIES | 12 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 13 |
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Share premium |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
DRAIN LINE SOUTHERN LIMITED (REGISTERED NUMBER: 04933418) |
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Balance Sheet - continued |
31 March 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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DRAIN LINE SOUTHERN LIMITED (REGISTERED NUMBER: 04933418) |
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Notes to the Financial Statements |
for the year ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Drain Line Southern Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. |
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Revenue is recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors. |
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Goodwill |
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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. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant & machinery | - | straight line over 4-7 years |
Fixtures, fittings & equipment | - | straight line over 3-4 years |
Motor vehicles | - | straight line over 5-7 years or over lease period |
Computer equipment | - | straight line over 3 years |
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Impairment policy |
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
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DRAIN LINE SOUTHERN LIMITED (REGISTERED NUMBER: 04933418) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a pension plan under which the company pays contributions into a separate entity. Once the contributions have been paid, the company has no further obligations. |
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The contributions are recognised as an expense in the income statement when they fall due. Amounts owed but not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
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At 31 March 2022 |
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AMORTISATION |
Charge for year |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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During the year the company purchased Enviroflow Services Limited. |
DRAIN LINE SOUTHERN LIMITED (REGISTERED NUMBER: 04933418) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures, |
Leasehold | Plant & | fittings |
improvements | machinery | & equipment |
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COST |
At 1 April 2021 |
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Additions |
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Disposals |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
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Additions |
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Disposals | ( |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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6. | FIXED ASSET INVESTMENTS |
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The company purchased shares in a 100% owned subsidiary during the period. |
DRAIN LINE SOUTHERN LIMITED (REGISTERED NUMBER: 04933418) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Hire purchase contracts and finance leases (see note 10) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Hire purchase contracts and finance leases (see note 10) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Hire purchase | 120,609 | 17,314 |
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10. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts | Finance leases |
2022 | 2021 | 2022 | 2021 |
£ | £ | £ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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In more than five years |
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Non-cancellable | operating leases |
2022 | 2021 |
£ | £ |
Within one year |
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DRAIN LINE SOUTHERN LIMITED (REGISTERED NUMBER: 04933418) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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11. | SECURED DEBTS |
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Pulse Cashflow (formerly Calverton Finance Ltd) has a fixed and floating charge over the assets of the company. |
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Also, Aldermore Bank has a fixed and floating charge over the assets of the company. |
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12. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 428,072 | 219,735 |
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Deferred |
tax |
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Balance at 1 April 2021 |
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Accelerated capital allowances | 88,048 |
Change in tax rate | 120,289 |
Balance at 31 March 2022 |
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13. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary A | 0.1p | 102 | 102 |
3,300 | Ordinary B | 0.1p | 3 | 3 |
51,150 | Ordinary C | 0.1p | 51 | 51 |
8,250 | Ordinary D | 0.1p | 8 | 8 |
164 | 164 |