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REGISTERED NUMBER: 05075646 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

PIPE STOCK LIMITED

PIPE STOCK LIMITED (REGISTERED NUMBER: 05075646)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PIPE STOCK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: T Brombley
D A Carr
Mrs N Carr





REGISTERED OFFICE: 8 Tollgate
Stanbridge Earls
Romsey
Hampshire
SO51 0HE





BUSINESS ADDRESS: Unit 3 Premier Way
Abbey Park Industrial Estate
Romsey
Hampshire
SO51 9DQ





REGISTERED NUMBER: 05075646 (England and Wales)

PIPE STOCK LIMITED (REGISTERED NUMBER: 05075646)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 304,555 395,996

CURRENT ASSETS
Stocks 481,361 528,138
Debtors 5 372,620 428,101
Cash at bank 4,364,327 4,255,464
5,218,308 5,211,703
CREDITORS
Amounts falling due within one year 6 1,829,750 1,730,476
NET CURRENT ASSETS 3,388,558 3,481,227
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,693,113

3,877,223

CAPITAL AND RESERVES
Called up share capital 8 100 100
Capital redemption reserve 15 15
Retained earnings 3,692,998 3,877,108
SHAREHOLDERS' FUNDS 3,693,113 3,877,223

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 16th August 2024 and were signed on its behalf by:



D A Carr - Director


PIPE STOCK LIMITED (REGISTERED NUMBER: 05075646)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Pipe Stock 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.

The financial statements are presented in £ sterling which is the functional currency of the company and rounded to the nearest £.

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 the revenue generated by the company's operating activities, excluding value added tax.

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 - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PIPE STOCK LIMITED (REGISTERED NUMBER: 05075646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account 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 24 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st April 2023 - 122,594 45,768
Additions 70,143 1,969 21,014
Disposals - - -
At 31st March 2024 70,143 124,563 66,782
DEPRECIATION
At 1st April 2023 - 72,459 36,411
Charge for year 10,020 12,616 6,448
Eliminated on disposal - - -
At 31st March 2024 10,020 85,075 42,859
NET BOOK VALUE
At 31st March 2024 60,123 39,488 23,923
At 31st March 2023 - 50,135 9,357

PIPE STOCK LIMITED (REGISTERED NUMBER: 05075646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023 374,023 71,175 613,560
Additions - 5,040 98,166
Disposals (97,000 ) - (97,000 )
At 31st March 2024 277,023 76,215 614,726
DEPRECIATION
At 1st April 2023 63,827 44,867 217,564
Charge for year 75,570 11,740 116,394
Eliminated on disposal (23,787 ) - (23,787 )
At 31st March 2024 115,610 56,607 310,171
NET BOOK VALUE
At 31st March 2024 161,413 19,608 304,555
At 31st March 2023 310,196 26,308 395,996

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 242,186 260,877
Other debtors 130,434 167,224
372,620 428,101

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 817,658 891,862
Taxation and social security 413,491 607,154
Other creditors 598,601 231,460
1,829,750 1,730,476

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 77,000 111,545
Between one and five years 25,667 102,667
102,667 214,212

This relates to a lease on the premises of the business and leases on company vehicles.

PIPE STOCK LIMITED (REGISTERED NUMBER: 05075646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


8. CALLED UP SHARE CAPITAL

2022 2021
Allotted, called up and fully paid: Nominal value Number £    £   
Ordinary A shares £1 each 5 5 5
Ordinary B shares £1 each 34 34 34
Ordinary C shares £1 each 51 51 51
Ordinary D shares £1 each 5 5 5
Ordinary E shares £1 each 5 5 5
100 100