Registered number
SC321790
Pipework Engineering ( 2007 ) Limited
Filleted Accounts
31 March 2023
Pipework Engineering ( 2007 ) Limited
Registered number: SC321790
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,119 7,462
Current assets
Cash at bank and in hand 4,490 4,795
Creditors: amounts falling due within one year 4 (101,476) (80,524)
Net current liabilities (96,986) (75,729)
Net liabilities (90,867) (68,267)
Capital and reserves
Called up share capital 2 2
Profit and loss account (90,869) (68,269)
Shareholders' funds (90,867) (68,267)
The director is 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 director acknowledges his 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.
A.Martin
Director
Approved by the board on 12 October 2023
Pipework Engineering ( 2007 ) Limited
Notes to the Accounts
for the year ended 31 March 2023
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 (as applied to small entities by section 1A of the standard).
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.
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:
Motor vehicle 18% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Furniture & Fittings Motor vehicles Total
£ £ £
Cost
At 1 April 2022 9,805 9,100 18,905
At 31 March 2023 9,805 9,100 18,905
Depreciation
At 1 April 2022 9,805 1,638 11,443
Charge for the year - 1,343 1,343
At 31 March 2023 9,805 2,981 12,786
Net book value
At 31 March 2023 - 6,119 6,119
At 31 March 2022 - 7,462 7,462
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 19,289 4,784
Other creditors 82,187 75,740
101,476 80,524
5 Controlling party
Mr A and Mrs M Martin are the sole shareholders in the company.
6 Other information
Pipework Engineering ( 2007 ) Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Flat 1/1
24 Trefoil Avenue
Shawlands
Glasgow
G41 3PF
7 Going concern basis
The Director is the significant creditor of the company and he confirms that all financial liabilities of the company will be met within terms of payment.
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