SC373385falseholding company2023-01-012023-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2022-12-31http://www.companieshouse.gov.uk/cd:Director12023-01-012023-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-12-31http://www.companieshouse.gov.uk/cd:Director22023-01-012023-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-01-012023-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-01-012023-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-01-012023-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-12-31http://www.companieshouse.gov.uk/2023-01-012023-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/cd:FRS1022023-01-012023-12-31http://www.companieshouse.gov.uk/2023-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-01-012023-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-01-012023-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: SC373385

Pre Insulated Pipes Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Pre Insulated Pipes Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DIRECTORS
Ian Wightman
Janice Wightman
REGISTERED OFFICE
G6, The Granary Business Centre
Coal Road
Cupar
Fife
KY15 5YQ
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC373385
ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Pre Insulated Pipes Ltd

FINANCIAL STATEMENTS
FOR THEYEARENDED31 DECEMBER 2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Pre Insulated Pipes Ltd

BALANCE SHEET AT 31 December 2023
20232022
Notes££
FIXED ASSETS
Tangible assets336,95451,574
Investment Assets4100100
37,05451,674
CURRENT ASSETS
Debtors5121,180177,954
Cash at bank and in hand132,35778,252
253,537256,206
CREDITORS: Amounts falling due within one year612,25412,240
NET CURRENT ASSETS241,283243,966
TOTAL ASSETS LESS CURRENT LIABILITIES278,337295,640
PROVISIONS FOR LIABILITIES AND CHARGES1,5914,593
NET ASSETS276,746291,047
CAPITAL AND RESERVES
Called up share capital7100100
Profit and loss account276,646290,947
SHAREHOLDERS' FUNDS276,746291,047
For the year ending 31 December 2023 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 6 August 2024 and signed on their behalf by
.............................
Ian Wightman
Director

Pre Insulated Pipes Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
1a. General Information and Basis Of Preparation
The company is a private company limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements. The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. There were no material departures from that standard.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.
1b. Turnover
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of VAT and trade discounts.
1c. Tangible Fixed Assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes directly attributable to making the asset capable of operating as intended.
Depreciation has been provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over their expected useful lives as follows:
Equipmentstraight line20%
Motor Carsreducing balance25%
1d. Investments
Investments in shares are included at cost less impairment.
1e. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which 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.

Pre Insulated Pipes Ltd

1f. Financial Instruments
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.
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 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 operations 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.
1g. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
1h. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods.
2. EMPLOYEES
20232022
No.No.
Average number of employees--

Pre Insulated Pipes Ltd

3. TANGIBLE FIXED ASSETS
Plant and
Machinery Etc.Total
££
Cost
At 1 January 202389,38489,384
At 31 December 202389,38489,384
Depreciation
At 1 January 202337,81037,810
For the year14,62014,620
At 31 December 202352,43052,430
Net Book Amounts
At 31 December 202336,95436,954
At 31 December 202251,57451,574
4. FINANCIAL ASSETS
Other
InvestmentsTotal
££
Cost
At 1 January 2023100100
At 31 December 2023100100
Amortisation
Net Book Amounts
At 31 December 2023100100
At 31 December 2022100100
5. DEBTORS 20232022
££
Amounts falling due within one year:
VAT170190
Other debtors121,010177,764
121,180177,954

Pre Insulated Pipes Ltd

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Trade creditors1,032-
Other creditors11,22212,240
12,25412,240
7. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
8. RELATED PARTY TRANSACTIONS
Shares in group undertakings as at 31 December 2023 relate to the following: Subsidiaries - Flexenergy Ltd (100% of ownership interest)