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REGISTERED NUMBER: 02101231 (England and Wales)















Basingstoke Pressure Vessels And
Pipework Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023






Basingstoke Pressure Vessels And
Pipework Limited (Registered number: 02101231)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Basingstoke Pressure Vessels And
Pipework Limited

Company Information
for the year ended 31 March 2023







Directors: A Cole
D A Collier





Secretary: S I Cole





Registered office: 11 -12 Brunel Gate
West Portway Industrial Estate
Andover
Hampshire
SP10 3SL





Registered number: 02101231 (England and Wales)





Accountants: Haines Watts South East LLP
Chartered Accountants
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

Basingstoke Pressure Vessels And
Pipework Limited (Registered number: 02101231)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 350,521 375,268

Current assets
Stocks 20,000 20,000
Debtors 5 109,316 58,693
Cash at bank 65,061 27,104
194,377 105,797
Creditors
Amounts falling due within one year 6 179,253 93,645
Net current assets 15,124 12,152
Total assets less current liabilities 365,645 387,420

Provisions for liabilities 27,715 29,123
Net assets 337,930 358,297

Capital and reserves
Called up share capital 8 100 100
Retained earnings 337,830 358,197
Shareholders' funds 337,930 358,297

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.

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:





A Cole - Director


Basingstoke Pressure Vessels And
Pipework Limited (Registered number: 02101231)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Basingstoke Pressure Vessels And Pipework 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. Accounting policies

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This view has given due consideration to the impact of COVID-19 on the business, and is to the best knowledge of the directors based on the current circumstances. The company has a strong solvent balance sheet and healthy cash position. Hence the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Buildings leasehold 50 years straight line
Plant and machinery 10% reducing balance - 20% straight line
Fixtures, fittings & equipment10% reducing balance
Motor vehicles 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. The stock value is based on the estimate of the directors, and impairment is also considered.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank loans.

Basingstoke Pressure Vessels And
Pipework Limited (Registered number: 02101231)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. Employees and directors

The average number of employees during the year was 14 (2022 - 14 ) .

Basingstoke Pressure Vessels And
Pipework Limited (Registered number: 02101231)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. Tangible fixed assets
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 April 2022 277,419 344,704 74,291 28,328 724,742
Additions - 6,595 - - 6,595
Disposals - (6,000 ) - - (6,000 )
At 31 March 2023 277,419 345,299 74,291 28,328 725,337
Depreciation
At 1 April 2022 32,208 237,784 58,236 21,246 349,474
Charge for year 5,549 15,834 1,605 7,082 30,070
Eliminated on disposal - (4,728 ) - - (4,728 )
At 31 March 2023 37,757 248,890 59,841 28,328 374,816
Net book value
At 31 March 2023 239,662 96,409 14,450 - 350,521
At 31 March 2022 245,211 106,920 16,055 7,082 375,268

Leasehold buildings have been pledged as security for bank borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 109,316 58,693

6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts - 4,684
Hire purchase contracts (see note 7) - 553
Trade creditors 30,341 22,757
Tax 26,120 4,769
Social security and other taxes 8,833 6,039
VAT 46,981 44,354
Directors' current accounts 6,678 6,678
Accrued expenses 60,300 3,811
179,253 93,645

The aggregate amount of creditors for which security has been given amounted to £Nil (2022 - £5,238).

7. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year - 553

Basingstoke Pressure Vessels And
Pipework Limited (Registered number: 02101231)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


7. Leasing agreements - continued

Non-cancellable
operating leases
2023 2022
£ £
Within one year 906 906
Between one and five years 7,025 7,931
7,931 8,837

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

9. Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

20232022
£   £   
7,9318,837

10. Related party transactions

Included in turnover is £606,530 (2022 - £523,254) receivable from Active Flow Controls Limited. Included in debtors at the year end is an amount of £Nil (2022 - £16,384) owed by Active Flow Controls Limited, a company in which A M Cole and D A Collier are also directors.