Registration number:
Associated Pipework (SE) Limited
for the Year Ended 31 December 2023
Associated Pipework (SE) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Associated Pipework (SE) Limited
Company Information
Directors |
Mr W A Laver Mr M Swan |
Company secretary |
Mr M Swan |
Registered office |
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Registered number |
03539521 |
Accountants |
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Associated Pipework (SE) Limited
(Registration number: 03539521)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
6,800 |
6,800 |
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Retained earnings |
(3,773) |
603 |
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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:
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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
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Associated Pipework (SE) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Associated Pipework (SE) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Taxation |
Tax charged/(credited) in the profit and loss account
2023 |
2022 |
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Current taxation |
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UK corporation tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
( |
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Tax expense in the income statement |
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Tangible assets |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Associated Pipework (SE) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors |
Current |
Note |
2023 |
2022 |
Trade debtors |
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Amounts owed by related parties |
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- |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Loans and borrowings |
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Associated Pipework (SE) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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3,000 |
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3,000 |
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3,800 |
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3,800 |
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Allotted, called up and not fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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376,200 |
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376,200 |
Loans and borrowings |
Non-current loans and borrowings
2023 |
2022 |
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Hire purchase contracts |
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Current loans and borrowings
2023 |
2022 |
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Hire purchase contracts |
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Provisions for liabilities |
Deferred tax |
Total |
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At 1 January 2023 |
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Increase (decrease) in existing provisions |
( |
( |
At 31 December 2023 |
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Associated Pipework (SE) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Dividends |
2023 |
2022 |
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Ordinary shares of £1 each |
194,000 |
193,500 |
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.