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REGISTERED NUMBER: 09002965 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Pipers Model Making Services Limited

Pipers Model Making Services Limited (Registered number: 09002965)






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


Pipers Model Making Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P M McKeogh
N P McKeogh





REGISTERED OFFICE: 16 Beaufort Court
Admirals Way
Docklands
London
E14 9XL





REGISTERED NUMBER: 09002965 (England and Wales)





ACCOUNTANTS: RBS Accountants Limited
16 Beaufort Court
Admirals Way
London
Docklands
London
E14 9XL

Pipers Model Making Services Limited (Registered number: 09002965)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,898 25,642

CURRENT ASSETS
Stocks 5,050 13,694
Debtors 5 685,716 433,627
Cash at bank and in hand 120,704 290,044
811,470 737,365
CREDITORS
Amounts falling due within one year 6 504,723 259,590
NET CURRENT ASSETS 306,747 477,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,645

503,417

CREDITORS
Amounts falling due after more than one
year

7

(81,667

)

(130,667

)

PROVISIONS FOR LIABILITIES 11 (3,975 ) (4,872 )
NET ASSETS 237,003 367,878

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 236,903 367,778
SHAREHOLDERS' FUNDS 237,003 367,878

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.

Pipers Model Making Services Limited (Registered number: 09002965)

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 21 August 2024 and were signed on its behalf by:





P M McKeogh - Director


Pipers Model Making Services Limited (Registered number: 09002965)

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

1. STATUTORY INFORMATION

Pipers Model Making Services 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.

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 net invoiced value of services, excluding value added tax. Income is recognised as services are performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 50% on cost
Fixtures and fittings - 25% on cost
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 trecognized 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.

Also, any Research & Development tax credited are recorded within the profit & loss in the taxation section.

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.

Pensions
The company contributes to individual employee's workplace pension plans. Contributions payable are charged to the income statement in the period to which they relate to. The assets of the plan are held separately from those of the company in independently administered funds.

Pipers Model Making Services Limited (Registered number: 09002965)

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 25 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 11,373 210,125 28,581 54,095 304,174
Additions - - - 1,225 1,225
At 31 December 2023 11,373 210,125 28,581 55,320 305,399
DEPRECIATION
At 1 January 2023 11,373 187,282 28,371 51,506 278,532
Charge for year - 7,868 105 2,996 10,969
At 31 December 2023 11,373 195,150 28,476 54,502 289,501
NET BOOK VALUE
At 31 December 2023 - 14,975 105 818 15,898
At 31 December 2022 - 22,843 210 2,589 25,642

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 637,538 64,109
Amounts owed by group undertakings 1,108 100,000
Other debtors 17,861 20,287
Accrued income - 220,457
Prepayments 29,209 28,774
685,716 433,627

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 8) 49,000 49,000
Trade creditors 43,777 27,404
Amounts owed to group undertakings 14,709 9,121
Social security and other taxes 31,173 33,354
VAT 94,535 38,459
Other creditors 33,341 34,123
Directors' current accounts - 23,661
Accrued expenses 238,188 44,468
504,723 259,590

Pipers Model Making Services Limited (Registered number: 09002965)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 8) 81,667 130,667

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 49,000 49,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 81,667 130,667

The CIBIL loan is over a 5 year term and repayable over 4 year from October 2021. The interest rate on this is 3.99% per annum over the bank of England Base Rate..

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 170,000 160,000
Between one and five years 692,500 680,000
In more than five years 877,500 962,500
1,740,000 1,802,500

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 130,667 179,667

The CIBIL bank loan From HSBC Bank PLC is secured by a fixed and flotating charge number 09002965001 over the property and undertakings of the company.

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 3,975 4,872

Pipers Model Making Services Limited (Registered number: 09002965)

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

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 4,872
Provided during year (897 )
Balance at 31 December 2023 3,975

12. ULTIMATE CONTROLLING PARTY

The controlling party is The McKeogh family.