IRIS Accounts Production v23.3.0.418 SC565229 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5652292022-03-31SC5652292023-03-31SC5652292022-04-012023-03-31SC5652292021-03-31SC5652292021-04-012022-03-31SC5652292022-03-31SC565229ns10:Originalns15:Scotland2022-04-012023-03-31SC565229ns14:PoundSterlingns10:Original2022-04-012023-03-31SC565229ns10:Originalns10:Director12022-04-012023-03-31SC565229ns10:Original2022-04-012023-03-31SC565229ns10:Original2023-03-31SC565229ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-31SC565229ns10:Originalns10:SmallEntities2022-04-012023-03-31SC565229ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC565229ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC565229ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31SC565229ns10:Originalns10:FullAccounts2022-04-012023-03-31SC565229ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-31SC565229ns10:Originalns10:Director22022-04-012023-03-31SC565229ns10:Originalns10:Director32022-04-012023-03-31SC565229ns10:CompanySecretary1ns10:Original2022-04-012023-03-31SC565229ns10:Originalns10:RegisteredOffice2022-04-012023-03-31SC565229ns10:Original2022-03-31SC565229ns10:Originalns5:CurrentFinancialInstruments2023-03-31SC565229ns10:Originalns5:CurrentFinancialInstruments2022-03-31SC565229ns5:ShareCapitalns10:Original2023-03-31SC565229ns5:ShareCapitalns10:Original2022-03-31SC565229ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-31SC565229ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-31SC565229ns10:Originalns5:PlantMachinery2022-04-012023-03-31SC565229ns10:Original2021-04-012022-03-31SC565229ns10:Originalns5:LandBuildings2022-03-31SC565229ns10:Originalns5:PlantMachinery2022-03-31SC565229ns10:Original2022-03-31SC565229ns10:Originalns5:LandBuildings2022-04-012023-03-31SC565229ns10:Originalns5:LandBuildings2023-03-31SC565229ns10:Originalns5:PlantMachinery2023-03-31SC565229ns10:Originalns5:LandBuildings2022-03-31SC565229ns10:Originalns5:PlantMachinery2022-03-31SC565229ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC565229ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31SC565229ns10:Originalns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: SC565229 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Pipeline Technology Centre Limited

Pipeline Technology Centre Limited (Registered number: SC565229)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pipeline Technology Centre Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D Haldane
J Rafferty
K Stoyanova





SECRETARY: Addleshaw Goddard (Scotland) Secretarial





REGISTERED OFFICE: 600 Gilmerton Road
Edinburgh
EH17 8RY





REGISTERED NUMBER: SC565229 (Scotland)





ACCOUNTANTS: Crichton Mackie Accounting Services Ltd
66 Barntongate Drive
Edinburgh
EH4 8BY

Pipeline Technology Centre Limited (Registered number: SC565229)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 258,829 301,205

CURRENT ASSETS
Debtors 5 492,996 383,673
Cash at bank 884,985 881,520
1,377,981 1,265,193
CREDITORS
Amounts falling due within one year 6 423,502 534,332
NET CURRENT ASSETS 954,479 730,861
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,213,308

1,032,066

PROVISIONS FOR LIABILITIES 53,597 48,515
NET ASSETS 1,159,711 983,551

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,159,611 983,451
SHAREHOLDERS' FUNDS 1,159,711 983,551

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Pipeline Technology Centre Limited (Registered number: SC565229)

Balance Sheet - continued
31 March 2023


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 31 October 2023 and were signed on its behalf by:





D Haldane - Director


Pipeline Technology Centre Limited (Registered number: SC565229)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Pipeline Technology Centre Limited is a private company, limited by shares , registered in Scotland. 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.

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, 20% on reducing balance and 15% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pipeline Technology Centre Limited (Registered number: SC565229)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 47,475 393,935 441,410
Additions - 19,746 19,746
Disposals - (18,238 ) (18,238 )
At 31 March 2023 47,475 395,443 442,918
DEPRECIATION
At 1 April 2022 12,552 127,653 140,205
Charge for year 5,238 42,293 47,531
Eliminated on disposal - (3,647 ) (3,647 )
At 31 March 2023 17,790 166,299 184,089
NET BOOK VALUE
At 31 March 2023 29,685 229,144 258,829
At 31 March 2022 34,923 266,282 301,205

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 443,080 345,439
Amounts recoverable on contract 32,500 22,000
Other debtors 17,416 16,234
492,996 383,673

Pipeline Technology Centre Limited (Registered number: SC565229)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 60,301 107,778
Taxation and social security 98,009 140,431
Other creditors 265,192 286,123
423,502 534,332

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

8. OPERATING LEASE COMMITMENTS

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £Nil (2022 - £6,677)