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REGISTERED NUMBER: 09205905 (England and Wales)















INTERNATIONAL PIPELINE STRUCTURAL
SOLUTIONS LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2022






INTERNATIONAL PIPELINE STRUCTURAL
SOLUTIONS LIMITED (REGISTERED NUMBER: 09205905)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


INTERNATIONAL PIPELINE STRUCTURAL
SOLUTIONS LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: K Rowley
E G Robertson





REGISTERED OFFICE: Lint House
Lint House Lane
Wednesfield
Wolverhampton
WV11 3EA





REGISTERED NUMBER: 09205905 (England and Wales)





ACCOUNTANTS: Inspired Accountants Limited
Chartered Certified Accountants
4 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7FE

INTERNATIONAL PIPELINE STRUCTURAL
SOLUTIONS LIMITED (REGISTERED NUMBER: 09205905)

Balance Sheet
31 DECEMBER 2022

31/12/22 31/12/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,008 7,520

CURRENT ASSETS
Debtors 6 366,535 514,113
Cash at bank and in hand 150,966 186,787
517,501 700,900
CREDITORS
Amounts falling due within one year 7 287,163 556,273
NET CURRENT ASSETS 230,338 144,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,346

152,147

CREDITORS
Amounts falling due after more than one year 8 120,280 149,731
NET ASSETS 116,066 2,416

CAPITAL AND RESERVES
Called up share capital 130 130
Retained earnings 115,936 2,286
SHAREHOLDERS' FUNDS 116,066 2,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 17 October 2023 and were signed on its behalf by:





K Rowley - Director


INTERNATIONAL PIPELINE STRUCTURAL
SOLUTIONS LIMITED (REGISTERED NUMBER: 09205905)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

International Pipeline Structural Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 25% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 6 ) .

INTERNATIONAL PIPELINE STRUCTURAL
SOLUTIONS LIMITED (REGISTERED NUMBER: 09205905)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 25,559
DEPRECIATION
At 1 January 2022 18,039
Charge for year 1,512
At 31 December 2022 19,551
NET BOOK VALUE
At 31 December 2022 6,008
At 31 December 2021 7,520

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Trade debtors 329,331 470,797
Amounts owed by group undertakings 4,753 -
Other debtors 32,451 43,316
366,535 514,113

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Trade creditors 21,047 281,842
Amounts owed to group undertakings 92,007 92,007
Taxation and social security 8,484 16,199
Other creditors 165,625 166,225
287,163 556,273

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/22 31/12/21
£    £   
Amounts owed to group undertakings 58,565 89,565
Other creditors 61,715 60,166
120,280 149,731