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REGISTERED NUMBER: 04422231 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DEP PIPES LIMITED

DEP PIPES LIMITED (REGISTERED NUMBER: 04422231)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DEP PIPES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: C D Elwell





REGISTERED OFFICE: DEP House
Buckland Hill
Maidstone
Kent
ME16 0SQ





REGISTERED NUMBER: 04422231 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

DEP PIPES LIMITED (REGISTERED NUMBER: 04422231)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 209,677 219,400

CURRENT ASSETS
Stocks 98,000 94,000
Debtors 5 121,612 170,128
Cash at bank 6,277 27,569
225,889 291,697
CREDITORS
Amounts falling due within one year 6 87,918 130,515
NET CURRENT ASSETS 137,971 161,182
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,648

380,582

CREDITORS
Amounts falling due after more than one
year

7

145,839

227,419
NET ASSETS 201,809 153,163

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 201,807 153,161
SHAREHOLDERS' FUNDS 201,809 153,163

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DEP PIPES LIMITED (REGISTERED NUMBER: 04422231)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 7 February 2024 and were signed by:





C D Elwell - Director


DEP PIPES LIMITED (REGISTERED NUMBER: 04422231)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

DEP Pipes 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

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.
Land and buildings - in accordance with the property
Plant and machinery etc - 20% on reducing balance

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, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

DEP PIPES LIMITED (REGISTERED NUMBER: 04422231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 172,933 272,127 445,060
Additions - 5,107 5,107
Disposals - (29,439 ) (29,439 )
At 31 December 2023 172,933 247,795 420,728
DEPRECIATION
At 1 January 2023 - 225,660 225,660
Charge for year - 9,188 9,188
Eliminated on disposal - (23,797 ) (23,797 )
At 31 December 2023 - 211,051 211,051
NET BOOK VALUE
At 31 December 2023 172,933 36,744 209,677
At 31 December 2022 172,933 46,467 219,400

Included in cost of land and buildings is freehold land of £ 172,933 (2022 - £ 172,933 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 121,612 170,128

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 28,455 26,794
Trade creditors 45,943 90,960
Taxation and social security 13,520 12,511
Other creditors - 250
87,918 130,515

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 67,625 88,922
Other creditors 78,214 138,497
145,839 227,419

DEP PIPES LIMITED (REGISTERED NUMBER: 04422231)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
HSBC bank loan 71,130 80,875

The HSBC bank loan is also secured personally by the sole director.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Other creditors due after more than one year includes £78,214 (2022 - £138,497) owed to Mr Craig Elwell, the sole director of the company.

10. RELATED PARTY DISCLOSURES

During the year various operating expenditures in the normal course of business of £78,340 (2022 £54,665) were invoiced to a company over which a director exerts significant influence. At the year end an amount of £78,290 (2022 - £107,716) was due to the company.