Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 07125480 Mr John Brady Mr Michael McDaid iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07125480 2023-01-31 07125480 2024-01-31 07125480 2023-02-01 2024-01-31 07125480 frs-core:CurrentFinancialInstruments 2024-01-31 07125480 frs-core:Non-currentFinancialInstruments 2024-01-31 07125480 frs-core:BetweenOneFiveYears 2024-01-31 07125480 frs-core:ComputerEquipment 2024-01-31 07125480 frs-core:ComputerEquipment 2023-02-01 2024-01-31 07125480 frs-core:ComputerEquipment 2023-01-31 07125480 frs-core:FurnitureFittings 2024-01-31 07125480 frs-core:FurnitureFittings 2023-02-01 2024-01-31 07125480 frs-core:FurnitureFittings 2023-01-31 07125480 frs-core:PlantMachinery 2024-01-31 07125480 frs-core:PlantMachinery 2023-02-01 2024-01-31 07125480 frs-core:PlantMachinery 2023-01-31 07125480 frs-core:WithinOneYear 2024-01-31 07125480 frs-core:ShareCapital 2024-01-31 07125480 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 07125480 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07125480 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 07125480 frs-bus:SmallEntities 2023-02-01 2024-01-31 07125480 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07125480 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07125480 frs-bus:Director1 2023-02-01 2024-01-31 07125480 frs-bus:Director2 2023-02-01 2024-01-31 07125480 frs-countries:EnglandWales 2023-02-01 2024-01-31 07125480 2022-01-31 07125480 2023-01-31 07125480 2022-02-01 2023-01-31 07125480 frs-core:CurrentFinancialInstruments 2023-01-31 07125480 frs-core:Non-currentFinancialInstruments 2023-01-31 07125480 frs-core:BetweenOneFiveYears 2023-01-31 07125480 frs-core:WithinOneYear 2023-01-31 07125480 frs-core:ShareCapital 2023-01-31 07125480 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 07125480
Pipeline Utilities Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07125480
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,071,125 2,407,218
3,071,125 2,407,218
CURRENT ASSETS
Stocks 5 434,942 238,940
Debtors 6 1,059,864 1,089,433
Cash at bank and in hand 872,600 1,197,842
2,367,406 2,526,215
Creditors: Amounts Falling Due Within One Year 7 (802,841 ) (679,868 )
NET CURRENT ASSETS (LIABILITIES) 1,564,565 1,846,347
TOTAL ASSETS LESS CURRENT LIABILITIES 4,635,690 4,253,565
Creditors: Amounts Falling Due After More Than One Year 8 (618,468 ) (390,067 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (425,523 ) (425,523 )
NET ASSETS 3,591,699 3,437,975
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 3,591,599 3,437,875
SHAREHOLDERS' FUNDS 3,591,699 3,437,975
Page 1
Page 2
For the year ending 31 January 2024 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 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael McDaid
Director
15/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pipeline Utilities Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07125480 . The registered office is The Old Barn, Off Wood Street, Swanley Village, Kent, BR8 7PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% - reducing balance
Fixtures & Fittings 10% - reducing balance
Computer Equipment 10% - reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 4,273,011 45,109 19,294 4,337,414
Additions 980,906 1,311 4,130 986,347
Disposals (257,305 ) - - (257,305 )
As at 31 January 2024 4,996,612 46,420 23,424 5,066,456
...CONTINUED
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Page 5
Depreciation
As at 1 February 2023 1,913,625 8,332 8,239 1,930,196
Provided during the period 241,113 3,811 1,515 246,439
Disposals (181,304 ) - - (181,304 )
As at 31 January 2024 1,973,434 12,143 9,754 1,995,331
Net Book Value
As at 31 January 2024 3,023,178 34,277 13,670 3,071,125
As at 1 February 2023 2,359,386 36,777 11,055 2,407,218
5. Stocks
2024 2023
£ £
Work in progress 434,942 238,940
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 220,098 395,496
Amounts owed by participating interests 632,503 582,486
Other debtors 207,263 111,451
1,059,864 1,089,433
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 480,729 241,457
Trade creditors 279,197 279,525
Other creditors 36,347 95,936
Taxation and social security 6,568 62,950
802,841 679,868
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 618,468 390,067
Page 5
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 480,729 241,457
Later than one year and not later than five years 618,468 390,067
1,099,197 631,524
1,099,197 631,524
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6