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REGISTERED NUMBER: SC268618 (Scotland)















Financial Statements for the Year Ended 31 December 2023

for

Pipmato Limited

Pipmato Limited (Registered number: SC268618)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pipmato Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Philip Edward Anderson
Mark Cavanagh





REGISTERED OFFICE: 15 Golden Square
Aberdeen
AB10 1WF





REGISTERED NUMBER: SC268618 (Scotland)





ACCOUNTANTS: Tawse & Partners
Chartered Accountants
18 North Silver Street
Aberdeen
AB10 1JU

Pipmato Limited (Registered number: SC268618)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 80,000 470,000

CURRENT ASSETS
Debtors 5 93,586 9,221
Cash at bank 248,555 2,918
342,141 12,139
CREDITORS
Amounts falling due within one year 6 307,779 385,423
NET CURRENT ASSETS/(LIABILITIES) 34,362 (373,284 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,362

96,716

CREDITORS
Amounts falling due after more than one
year

7

(3,551

)

(5,918

)

PROVISIONS FOR LIABILITIES (5,679 ) -
NET ASSETS 105,132 90,798

CAPITAL AND RESERVES
Called up share capital 8 96 96
Fair value reserve 9 24,211 104,426
Retained earnings 80,825 (13,724 )
SHAREHOLDERS' FUNDS 105,132 90,798

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Pipmato Limited (Registered number: SC268618)

Balance Sheet - continued
31 December 2023


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 2 August 2024 and were signed on its behalf by:





Mark Cavanagh - Director


Pipmato Limited (Registered number: SC268618)

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

1. STATUTORY INFORMATION

Pipmato Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts.

Turnover
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax. Turnover is recognised from the provision of rental services to related companies.

Tangible fixed assets
Investment property values are reviewed annually. Surpluses or deficits on individual properties are transferred to the revaluation reserve unless a deficit (or its reversal) is expected to be permanent in which case it is adjusted to the profit and loss account.

In accordance with Statement of Standard Accounting Practice 19 no depreciation is provided in respect of the Investment Properties. This represents a departure from the Companies Act 2006 requirements concerning the depreciation of fixed assets, but is required in order to give a true and fair view.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pipmato Limited (Registered number: SC268618)

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

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 470,000
Disposals (400,000 )
Revaluations 10,000
At 31 December 2023 80,000
NET BOOK VALUE
At 31 December 2023 80,000
At 31 December 2022 470,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2009 349,426
Valuation in 2012 48,100
Valuation in 2014 285,000
Valuation in 2016 (647,675 )
Valuation in 2020 11,675
Valuation in 2021 26,000
Valuation in 2022 31,900
Valuation in 2023 (84,536 )
Valuation in 2024 10,000
Cost 50,110
80,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 50,110 365,574

Investment properties were valued on an open market basis on 31 December 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,586 6,275
Other debtors 92,000 2,946
93,586 9,221

Pipmato Limited (Registered number: SC268618)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 2,367 2,367
Trade creditors - 3,545
Amounts owed to group undertakings - 16,311
Taxation and social security 542 -
Other creditors 304,870 363,200
307,779 385,423

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 3,551 5,918

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
96 Ordinary £1 96 96

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023 104,426
Transfer to profit and loss (80,215 )

At 31 December 2023 24,211

10. ULTIMATE PARENT COMPANY

The ultimate parent company is Crandale Limited.