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REGISTERED NUMBER: 06589989 (England and Wales)






















Unaudited Financial Statements

for the Period

1 January 2023 to 30 April 2024

for

Special Pipeline Services Ltd

Special Pipeline Services Ltd (Registered number: 06589989)






Contents of the Financial Statements
for the Period 1 January 2023 to 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Special Pipeline Services Ltd

Company Information
for the Period 1 January 2023 to 30 April 2024







DIRECTORS: S Conroy
M Rice





REGISTERED OFFICE: Acorn House
85 Wainfleet Road
Skegness
PE25 2EL





REGISTERED NUMBER: 06589989 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Special Pipeline Services Ltd (Registered number: 06589989)

Balance Sheet
30 April 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 196,957 96,455

CURRENT ASSETS
Stocks 713,200 183,050
Debtors 5 659,707 256,883
Cash at bank and in hand 42,873 27,386
1,415,780 467,319
CREDITORS
Amounts falling due within one year 6 1,230,274 357,449
NET CURRENT ASSETS 185,506 109,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,463

206,325

CREDITORS
Amounts falling due after more than one
year

7

(125,482

)

(75,309

)

PROVISIONS FOR LIABILITIES (49,098 ) (23,930 )
NET ASSETS 207,883 107,086

CAPITAL AND RESERVES
Called up share capital 8 100 2
Retained earnings 207,783 107,084
SHAREHOLDERS' FUNDS 207,883 107,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





S Conroy - Director


Special Pipeline Services Ltd (Registered number: 06589989)

Notes to the Financial Statements
for the Period 1 January 2023 to 30 April 2024

1. STATUTORY INFORMATION

Special Pipeline Services Ltd 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the period 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 period 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.

Special Pipeline Services Ltd (Registered number: 06589989)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 period was 10 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 2,442 129 97,162 1,073 100,806
Additions 32,790 - 97,845 - 130,635
At 30 April 2024 35,232 129 195,007 1,073 231,441
DEPRECIATION
At 1 January 2023 1,736 107 1,619 889 4,351
Charge for period 4,599 6 25,478 50 30,133
At 30 April 2024 6,335 113 27,097 939 34,484
NET BOOK VALUE
At 30 April 2024 28,897 16 167,910 134 196,957
At 31 December 2022 706 22 95,543 184 96,455

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 555,669 108,044
Other debtors 2,953 500
VAT 88,472 121,260
Prepayments and accrued income 12,613 27,079
659,707 256,883

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Hire purchase contracts 36,497 15,162
Trade creditors 89,975 11,082
Amounts owed to participating interests 1,026,907 -
Tax 20,449 71,268
Social security and other taxes 19,811 15,637
Other creditors 7,939 229,737
Accrued expenses 28,696 14,563
1,230,274 357,449

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Hire purchase contracts 125,482 75,309

Special Pipeline Services Ltd (Registered number: 06589989)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 April 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £    £   
2 Ordinary £1 100 2