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REGISTERED NUMBER: 02132696 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

P & H Pipelines & Services Limited

P & H Pipelines & Services Limited (Registered number: 02132696)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


P & H Pipelines & Services Limited (Registered number: 02132696)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 562,390 411,866

CURRENT ASSETS
Debtors 5 448,189 660,901
Cash at bank and in hand 1,026,899 531,667
1,475,088 1,192,568
CREDITORS
Amounts falling due within one year 6 474,346 352,277
NET CURRENT ASSETS 1,000,742 840,291
TOTAL ASSETS LESS CURRENT LIABILITIES 1,563,132 1,252,157

CREDITORS
Amounts falling due after more than one year 7 (249,087 ) (212,582 )

PROVISIONS FOR LIABILITIES (26,140 ) (15,425 )
NET ASSETS 1,287,905 1,024,150

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 1,287,805 1,024,050
SHAREHOLDERS' FUNDS 1,287,905 1,024,150

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:





S Mansley - Director


P & H Pipelines & Services Limited (Registered number: 02132696)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

P & H Pipelines & Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02132696

Registered office: 2B Yew Tree Way
Golborne
Warrington
Cheshire
WA3 3JD

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of goods and services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

P & H Pipelines & Services Limited (Registered number: 02132696)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2022 288,334 170,941 181,289
Additions 60,053 - -
Disposals - - -
At 31 July 2023 348,387 170,941 181,289
DEPRECIATION
At 1 August 2022 76,280 157,988 119,692
Charge for year 6,968 3,238 15,399
Eliminated on disposal - - -
At 31 July 2023 83,248 161,226 135,091
NET BOOK VALUE
At 31 July 2023 265,139 9,715 46,198
At 31 July 2022 212,054 12,953 61,597

P & H Pipelines & Services Limited (Registered number: 02132696)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 337,570 194,426 1,172,560
Additions 208,381 825 269,259
Disposals (23,445 ) - (23,445 )
At 31 July 2023 522,506 195,251 1,418,374
DEPRECIATION
At 1 August 2022 224,053 182,681 760,694
Charge for year 80,475 8,482 114,562
Eliminated on disposal (19,272 ) - (19,272 )
At 31 July 2023 285,256 191,163 855,984
NET BOOK VALUE
At 31 July 2023 237,250 4,088 562,390
At 31 July 2022 113,517 11,745 411,866

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 107,937
Additions 208,381
At 31 July 2023 316,318
DEPRECIATION
At 1 August 2022 33,005
Charge for year 70,829
At 31 July 2023 103,834
NET BOOK VALUE
At 31 July 2023 212,484
At 31 July 2022 74,932

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 162 -
Other debtors 448,027 660,901
448,189 660,901

P & H Pipelines & Services Limited (Registered number: 02132696)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 65,308 23,424
Trade creditors 111,320 217,004
Taxation and social security 141,007 90,407
Other creditors 156,711 21,442
474,346 352,277

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 136,528 35,106
Other creditors 112,559 177,476
249,087 212,582

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 201,836 58,530

Hire purchase liabilities are secured over the assets to which they relate.

9. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £843,750 (2022 - £978,750) This financial commitment represents the total amount of payments remaining on an operating lease which ends in 2028.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No interest was charged on the amount outstanding, which is repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The controlling party is P & H Group Holdings Limited.

The ultimate controlling party is S Mansley and Z Brockman.