Draintec Solutions Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC303174 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

DRAINTEC SOLUTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

S McCallum

Mrs I McCallum

SECRETARY:

Mrs I McCallum

REGISTERED OFFICE:

22 Backbrae Street

Kilsyth

G65 0NH

REGISTERED NUMBER:

SC303174 (Scotland)

ACCOUNTANTS:

Curle & Co

Chartered Accountants

22 Backbrae Street

Kilsyth

G65 0NH

BANKERS:

Royal Bank of Scotland

50 Cadzow Street

Hamilton

ML3 6DU

FIXED ASSETS

Tangible assets

2

319,786

364,004

CURRENT ASSETS

Stocks

11,361

25,535

Debtors

133,974

45,238

Cash at bank

-

3,227

145,335

74,000

CREDITORS

Amounts falling due within one year

184,702

142,720

NET CURRENT LIABILITIES

(39,367

)

(68,720

)

TOTAL ASSETS LESS CURRENT LIABILITIES

280,419

295,284

CREDITORS

Amounts falling due after more than one year

(34,373

)

(59,042

)

PROVISIONS FOR LIABILITIES

(9,211

)

(10,676

)

NET ASSETS

236,835

225,566

CAPITAL AND RESERVES

Called up share capital

3

1,500

1,500

Revaluation reserve

275,054

275,054

Capital redemption reserve

500

500

Profit and loss account

(40,219

)

(51,488

)

SHAREHOLDERS' FUNDS

236,835

225,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 November 2014 and were signed on its behalf by:

S McCallum - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

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.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 June 2013

474,870

Additions

4,363

At 31 May 2014

479,233

DEPRECIATION

At 1 June 2013

110,866

Charge for year

48,581

At 31 May 2014

159,447

NET BOOK VALUE

At 31 May 2014

319,786

At 31 May 2013

364,004

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

1,500

Ordinary

£1.00

1,500

1,500

4.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Draintec Solutions Limited for the year ended 31 May 2014 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other

professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Draintec Solutions Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Draintec Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Draintec

Solutions Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants

of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law,

we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for

our work or for this report.

It is your duty to ensure that Draintec Solutions Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Draintec

Solutions Limited. You consider that Draintec Solutions Limited is exempt from the statutory audit requirement for the

year.

We have not been instructed to carry out an audit or a review of the financial statements of Draintec Solutions Limited.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Curle & Co

Chartered Accountants

22 Backbrae Street

Kilsyth

G65 0NH

Date: .............................................