Associated Pipework (SE) Limited 03539521 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Pipe fabrications and contractors Digita Accounts Production Advanced 6.30.9574.0 true true 03539521 2023-01-01 2023-12-31 03539521 2023-12-31 03539521 bus:OrdinaryShareClass1 2023-12-31 03539521 bus:OrdinaryShareClass2 2023-12-31 03539521 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 03539521 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 03539521 core:CurrentFinancialInstruments 2023-12-31 03539521 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03539521 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 03539521 core:FurnitureFittings 2023-12-31 03539521 core:MotorVehicles 2023-12-31 03539521 core:OfficeEquipment 2023-12-31 03539521 core:PlantMachinery 2023-12-31 03539521 core:DeferredTaxation 2023-12-31 03539521 bus:SmallEntities 2023-01-01 2023-12-31 03539521 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03539521 bus:FilletedAccounts 2023-01-01 2023-12-31 03539521 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03539521 bus:RegisteredOffice 2023-01-01 2023-12-31 03539521 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 03539521 bus:Director1 2023-01-01 2023-12-31 03539521 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 03539521 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 03539521 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03539521 core:FurnitureFittings 2023-01-01 2023-12-31 03539521 core:MotorVehicles 2023-01-01 2023-12-31 03539521 core:OfficeEquipment 2023-01-01 2023-12-31 03539521 core:PlantMachinery 2023-01-01 2023-12-31 03539521 core:DeferredTaxation 2023-01-01 2023-12-31 03539521 core:UKTax 2023-01-01 2023-12-31 03539521 countries:EnglandWales 2023-01-01 2023-12-31 03539521 2022-12-31 03539521 core:FurnitureFittings 2022-12-31 03539521 core:MotorVehicles 2022-12-31 03539521 core:OfficeEquipment 2022-12-31 03539521 core:PlantMachinery 2022-12-31 03539521 core:DeferredTaxation 2022-12-31 03539521 2022-01-01 2022-12-31 03539521 2022-12-31 03539521 bus:OrdinaryShareClass1 2022-12-31 03539521 bus:OrdinaryShareClass2 2022-12-31 03539521 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 03539521 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 03539521 core:CurrentFinancialInstruments 2022-12-31 03539521 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03539521 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 03539521 core:FurnitureFittings 2022-12-31 03539521 core:MotorVehicles 2022-12-31 03539521 core:OfficeEquipment 2022-12-31 03539521 core:PlantMachinery 2022-12-31 03539521 core:UKTax 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03539521

Associated Pipework (SE) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Associated Pipework (SE) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Associated Pipework (SE) Limited

Company Information

Directors

Mr W A Laver

Mr M Swan

Company secretary

Mr M Swan

Registered office

Unit 35 Swan Centre
Rosemary Road
St Martins Way
London
SW17 0AR

Registered number

03539521

Accountants

Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU

 

Associated Pipework (SE) Limited

(Registration number: 03539521)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

65,118

91,832

Current assets

 

Debtors

6

315,350

262,643

Cash at bank and in hand

 

191,021

160,430

 

506,371

423,073

Creditors: Amounts falling due within one year

7

(542,182)

(469,286)

Net current liabilities

 

(35,811)

(46,213)

Total assets less current liabilities

 

29,307

45,619

Creditors: Amounts falling due after more than one year

7

(10,000)

(20,768)

Provisions for liabilities

(16,280)

(17,448)

Net assets

 

3,027

7,403

Capital and reserves

 

Called up share capital

8

6,800

6,800

Retained earnings

(3,773)

603

Shareholders' funds

 

3,027

7,403

 

Associated Pipework (SE) Limited

(Registration number: 03539521)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

.........................................
Mr W A Laver
Director

.........................................
Mr M Swan
Company secretary and director

 

Associated Pipework (SE) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 35 Swan Centre
Rosemary Road
St Martins Way
London
SW17 0AR
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Going concern

The financial statements have been prepared on a going concern basis on the understanding that creditors will continue to support the company for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to expenditure are credited to profit and loss account when the expenditure is charged to profit and loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

 

Associated Pipework (SE) Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fixture

25% on reducing balance

Office equipment

25% on reducing balance

Plant and Machinery

25% on reducing balance

Motor vehicles

25% on straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Hire purchase contracts

Assets obtained under hire purchase contracts and 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 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 of risks of ownership remain with the lesser are charged to the profit and loss account as incurred.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Associated Pipework (SE) Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Associated Pipework (SE) Limited

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

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax

66,952

24,521

Deferred taxation

Arising from origination and reversal of timing differences

(1,168)

8,954

Tax expense in the income statement

65,784

33,475

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

18,439

19,260

12,760

130,041

180,500

At 31 December 2023

18,439

19,260

12,760

130,041

180,500

Depreciation

At 1 January 2023

16,074

18,844

11,153

42,597

88,668

Charge for the year

592

104

402

25,616

26,714

At 31 December 2023

16,666

18,948

11,555

68,213

115,382

Carrying amount

At 31 December 2023

1,773

312

1,205

61,828

65,118

At 31 December 2022

2,365

416

1,607

87,444

91,832

 

Associated Pipework (SE) Limited

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

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

242,442

219,660

Amounts owed by related parties

12

23,199

-

Prepayments

 

12,904

9,848

Other debtors

 

36,805

33,135

   

315,350

262,643

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Loans and borrowings

9

10,768

19,451

Trade creditors

 

61,038

30,552

Taxation and social security

 

68,363

25,939

Accruals and deferred income

 

67,500

69,046

Other creditors

 

334,513

324,298

 

542,182

469,286

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

9

10,000

20,768

 

Associated Pipework (SE) Limited

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

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

3,000

3,000

3,000

3,000

Class E Shares of £1 each

3,800

3,800

3,800

3,800

6,800

6,800

6,800

6,800

Allotted, called up and not fully paid shares

2023

2022

No.

£

No.

£

Class E Shares of £1 each

376,200

376,200

376,200

376,200

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

10,000

20,768

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

10,768

19,451

10

Provisions for liabilities

Deferred tax
£

Total
£

At 1 January 2023

17,448

17,448

Increase (decrease) in existing provisions

(1,168)

(1,168)

At 31 December 2023

16,280

16,280

 

Associated Pipework (SE) Limited

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

11

Dividends

2023
 £

2022
 £

Ordinary shares of £1 each
Final

194,000

193,500

12

Related party transactions

Administration expenses include rent of £20,000 (2022: £20,000) charged by Associated Pipework (SE) Pension Fund, in respect of which the directors are beneficiaries.

At the balance sheet date, Mr W Layer owed £19,764 to the company whereas the company owed £43 to Mr W Layer in 2022, a director and shareholder of the company.

At the balance sheet date, Mr M Swan owed £3,435 to the company whereas the company owed £15,966 to Mr M Swan in 2022, a director and shareholder of the company.