REGISTERED NUMBER: |
Perfect Pipework Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
REGISTERED NUMBER: |
Perfect Pipework Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
Perfect Pipework Limited (Registered number: 02518129) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
Perfect Pipework Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
8a Wingbury Courtyard |
Business Village |
Wingrave |
Buckinghamshire |
HP22 4LW |
Perfect Pipework Limited (Registered number: 02518129) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
Perfect Pipework Limited (Registered number: 02518129) |
Balance Sheet - continued |
31 July 2023 |
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 |
Perfect Pipework Limited (Registered number: 02518129) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Perfect Pipework Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales, excluding value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement. |
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 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 and that are expected to apply to the reversal of the timing difference. |
Current or deferred taxation liabilities are not discounted. |
Pension costs |
The pension costs charged in the financial statements represent the contribution payable by the company during the year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Perfect Pipework Limited (Registered number: 02518129) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 August 2022 |
Additions |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Payments on account |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
8. | SECURED DEBTS |
A fixed and floating charge, dated 7th November 2002, is held by HSBC Bank Plc over all the assets of the company equal to the monies that are due or become due from the company. |
Perfect Pipework Limited (Registered number: 02518129) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 31 July 2023 there were no outstanding loans to the directors (2022: £ 55,851). |
Interest is charged on overdrawn balances at the beneficial loan interest rate as set by HMRC. |
10. | OPERATING LEASES |
The company is committed to make lease payments under non cancellable operating lease agreements as follows: |
31/07/23 | 31/07/22 |
£ | £ |
Within one Year | 12,032 | 17,039 |
Between one and five years | 9,392 | 24,208 |
21,424 | 41,247 |
11. | TRADING UPDATE |
In common with many businesses, the company experienced difficult trading conditions during the pandemic. Despite the impact this had, the directors were confident about the future of the business and provided financial backing during this time. The year ended 31 July 2023 showed a return to profitability with this upward trend continuing in the current year. As at the date of signing these accounts, the positive trading has resulted in a continued improvement in shareholder funds. Based upon the order book, the directors expect the company to continue to be profitable and for the balance sheet to continue to strengthen. |