The London Drain Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03199978

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

THE LONDON DRAIN COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J P R Prevost

A F Sharp

A Sharp

A K Sharp

SECRETARY:

White House Secretaries Limited

REGISTERED OFFICE:

1 High Street

Thatcham

Berks

RG19 3JG

REGISTERED NUMBER:

03199978

FIXED ASSETS

Tangible assets

4

520,676

520,676

Investments

5

2,000

2,000

522,676

522,676

CURRENT ASSETS

Debtors

6

156,183

89,896

Cash at bank

82,210

131,600

238,393

221,496

CREDITORS

Amounts falling due within one year

7

45,389

55,599

NET CURRENT ASSETS

193,004

165,897

TOTAL ASSETS LESS CURRENT LIABILITIES

715,680

688,573

CREDITORS

Amounts falling due after more than one year

8

80,597

102,864

NET ASSETS

635,083

585,709

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

633,083

583,709

SHAREHOLDERS' FUNDS

635,083

585,709

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 9 August 2022 and were signed on its behalf by:

J P R Prevost - Director

1.	STATUTORY INFORMATION

The London Drain Company Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 December 2020

and 30 November 2021

520,676

NET BOOK VALUE

At 30 November 2021

520,676

At 30 November 2020

520,676

Included in cost of land and buildings is freehold land of £ 520,676 (2020 - £ 520,676 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 December 2020

and 30 November 2021

2,000

NET BOOK VALUE

At 30 November 2021

2,000

At 30 November 2020

2,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Other debtors

156,183

89,896

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans and overdrafts

34,920

34,920

Trade creditors

-

(1

)

Taxation and social security

8,411

10,202

Other creditors

2,058

10,478

45,389

55,599

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans

80,597

102,864

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.21

30.11.20

£

£

Bank loans

115,517

137,784

The company has given National Westminster Bank Plc a legal charge over its freehold property.

10.	ULTIMATE CONTROLLING PARTY

The directors and their wives beneficially own 100% of the issued share capital of the company.