ACTIVE DRAINAGE SOLUTIONS LTD - Filleted accounts

ACTIVE DRAINAGE SOLUTIONS LTD
Registered number:		06924025
Balance Sheet
as at 28 February 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	3		32,056			42,741

Current assets
Debtors	4	48,922			58,965
Cash at bank and in hand		164,708			136,023
		213,630			194,988

Creditors: amounts falling due within one year	5	(83,285)			(73,865)

Net current assets			130,345			121,123

Net assets			162,401			163,864

Capital and reserves
Called up share capital			100			100
Profit and loss account			162,301			163,764

Shareholders' funds			162,401			163,864

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.




M Hayward
Director
Approved by the board on 26 November 2018

ACTIVE DRAINAGE SOLUTIONS LTD
Notes to the Accounts
for the year ended 28 February 2018


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.

	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:


	Leasehold land and buildings	over the lease term
	Plant and machinery	25% Reducing balance


	Investments
	Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

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


2	Employees		2018		2017
Number				Number

	Average number of persons employed by the company		4		4


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 March 2017				94,254
	At 28 February 2018				94,254

	Depreciation
	At 1 March 2017				51,513
	Charge for the year				10,685
	At 28 February 2018				62,198

	Net book value
	At 28 February 2018				32,056
	At 28 February 2017				42,741




4	Debtors		2018		2017
£				£

	Trade debtors		34,521		24,423
	Other debtors		14,401		34,542
			48,922		58,965


5	Creditors: amounts falling due within one year		2018		2017
£				£

	Trade creditors		495		7,224
	Corporation tax		15,675		13,425
	Other taxes and social security costs		14,807		17,062
	Other creditors		52,308		36,154
			83,285		73,865


6	Other information

	ACTIVE DRAINAGE SOLUTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
	5 Hurn Close
	Ashley
	Ringwood
	Hants
	BH24 2AD