Data Pipeliner Limited
Unaudited Financial Statements
For the period ended 31 May 2023
Pages for Filing with Registrar
Company Registration No. 14122942 (England and Wales)
Data Pipeliner Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Data Pipeliner Limited
Balance Sheet
As at 31 May 2023
Page 1
2023
Notes
£
£
Fixed assets
Intangible assets
3
15,290
Current assets
Debtors
4,203
Cash at bank and in hand
102,296
106,499
Creditors: amounts falling due within one year
4
(2,274)
Net current assets
104,225
Net assets
119,515
Capital and reserves
Called up share capital
5
1
Share premium account
149,987
Profit and loss reserves
(30,473)
Total equity
119,515
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 October 2023 and are signed on its behalf by:
S Tarnagurskaja
Director
Company Registration No. 14122942
Data Pipeliner Limited
Notes to the Financial Statements
For the period ended 31 May 2023
Page 2
1
Accounting policies
Company information
Data Pipeliner Limited is a private company limited by shares incorporated in England and Wales. The registered office is 32 Thurlow Park Road, London, United Kingdom, SE21 8JA.
1.1
Reporting period
The annual financial statements are presented for a period longer than one year due to the company incorporating on 22 May 2022.
1.2
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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
Software
3 years straight line
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Data Pipeliner Limited
Notes to the Financial Statements (Continued)
For the period ended 31 May 2023
1
Accounting policies
(Continued)
Page 3
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
1.6
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
2
Data Pipeliner Limited
Notes to the Financial Statements (Continued)
For the period ended 31 May 2023
Page 4
3
Intangible fixed assets
Other
£
Cost
At 22 May 2022
Additions
15,829
At 31 May 2023
15,829
Amortisation and impairment
At 22 May 2022
Amortisation charged for the period
539
At 31 May 2023
539
Carrying amount
At 31 May 2023
15,290
4
Creditors: amounts falling due within one year
2023
£
Other creditors
24
Accruals and deferred income
2,250
2,274
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of 0.001p each
110,245
1
On incorporation the company issued 1 ordinary £1 share at par value.
On 19 March 2023, the company subdivided the £1 ordinary share to 100,000 shares at a value of 0.001p.
On 19 March 2023, the company issued 10,245 shares at a premium of £14.64.