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Company Registration No. 09034186 (England and Wales)
South West Pipeworks Limited Unaudited accounts for the year ended 31 March 2023
South West Pipeworks Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,000 
3,000 
Tangible assets
1,292 
1,723 
3,292 
4,723 
Current assets
Debtors
12,130 
3,165 
Cash at bank and in hand
45,609 
46,192 
57,739 
49,357 
Creditors: amounts falling due within one year
(32,759)
(30,694)
Net current assets
24,980 
18,663 
Total assets less current liabilities
28,272 
23,386 
Creditors: amounts falling due after more than one year
(14,735)
(21,536)
Net assets
13,537 
1,850 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
13,437 
1,750 
Shareholders' funds
13,537 
1,850 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
James Keir Director Company Registration No. 09034186
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South West Pipeworks Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
South West Pipeworks Limited is a private company, limited by shares, registered in England and Wales, registration number 09034186. The registered office is UNIT 5 EMPIRE WAY, TREGONIGGIE INDUSTRIAL ESTATE, FALMOUTH, CORNWALL, TR11 4SN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on written down value
Computer equipment
20% on written down value
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
10,000 
At 31 March 2023
10,000 
Amortisation
At 1 April 2022
7,000 
Charge for the year
1,000 
At 31 March 2023
8,000 
Net book value
At 31 March 2023
2,000 
At 31 March 2022
3,000 
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South West Pipeworks Limited Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
1,273 
2,250 
1,733 
5,256 
At 31 March 2023
1,273 
2,250 
1,733 
5,256 
Depreciation
At 1 April 2022
690 
1,948 
895 
3,533 
Charge for the year
146 
75 
210 
431 
At 31 March 2023
836 
2,023 
1,105 
3,964 
Net book value
At 31 March 2023
437 
227 
628 
1,292 
At 31 March 2022
583 
302 
838 
1,723 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
12,130 
3,165 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,800 
6,800 
Trade creditors
3,681 
2,557 
Taxes and social security
20,612 
19,547 
Loans from directors
566 
40 
Accruals
1,100 
1,750 
32,759 
30,694 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,735 
21,536 
9
Average number of employees
During the year the average number of employees was 1 (2022: 2).
- 4 -