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REGISTERED NUMBER: 01315457 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

PIPAL LIMITED

PIPAL LIMITED (REGISTERED NUMBER: 01315457)

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


PIPAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr B J Kantaria
Mr A B Kantaria





SECRETARY: Mrs B B Kantaria





REGISTERED OFFICE: Unit 8, 224, Iverson Road
London
NW6 2HL





REGISTERED NUMBER: 01315457 (England and Wales)






PIPAL LIMITED (REGISTERED NUMBER: 01315457)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 275,001 72,001
275,001 72,001

CURRENT ASSETS
Debtors 6 1,108,602 1,241,499
Cash at bank 24,013 20,605
1,132,615 1,262,104
CREDITORS
Amounts falling due within one year 7 9,392 416,445
NET CURRENT ASSETS 1,123,223 845,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,398,224

917,660

CREDITORS
Amounts falling due after more than one year 8 2,324,393 1,797,034
NET LIABILITIES (926,169 ) (879,374 )

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Retained earnings (976,169 ) (929,374 )
SHAREHOLDERS' FUNDS (926,169 ) (879,374 )

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 11th September 2024 and were signed on its behalf by:





Mr B J Kantaria - Director


PIPAL LIMITED (REGISTERED NUMBER: 01315457)

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


1. STATUTORY INFORMATION

Pipal 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.

At the year end, the company's balance sheet showed net liabilities of £926,169 (2023: £879,374).

These financial statements have been prepared on a going concern basis, as the company has received assurances from the shareholders and directors. These individuals have confirmed that they will provide ongoing financial support to the company so that the latter can meet its liabilities as and when these fall due. The directors and their close relatives have also subordinated their loans totalling £2,318,981 in favour of other creditors of the company.

Turnover
Turnover represents value of goods sold, excluding value added tax and net of any discounts.

Turnover for sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer and when there is no continuing involvement with goods.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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.

Current assets investments
Current assets investments are stated at historical cost less any provision for permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 707
DEPRECIATION
At 1st April 2023
and 31st March 2024 707
NET BOOK VALUE
At 31st March 2024 -

PIPAL LIMITED (REGISTERED NUMBER: 01315457)

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


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2023 72,001
Additions 275,000
Disposals (72,000 )
At 31st March 2024 275,001
NET BOOK VALUE
At 31st March 2024 275,001
At 31st March 2023 72,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 798,149 896,647
Other debtors 310,419 344,828
VAT 34 24
1,108,602 1,241,499

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,732 3,699
Trade creditors 1 -
Other creditors 5,659 412,746
9,392 416,445

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,412 9,127
Other creditors 2,318,981 1,787,907
2,324,393 1,797,034

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary shares £1 50,000 50,000

PIPAL LIMITED (REGISTERED NUMBER: 01315457)

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


10. RELATED PARTY DISCLOSURES

(i) Certain Directors have given a limited personal guarantee of £400,000 to secure funding for the company.

(ii) A company with common director/shareholder had a balance payable of £110,354 (2023:£110,354) to Pipal Limited as at 31st March 2024. This is an interest free and unsecured loan.

(iii) The Directors, shareholders and close family members have provided an interest free, unsecured and subordinated loans to the Company. As at 31st March 2024, a total balance of £2,318,981 (2023: £2,197,988) was due to these persons by the Company.

(iv) The company occupies a part of the property owned by another company (with common directors/shareholders) for its business activities and pays the rent of £12,000 per annum (2023: £20,000). The tenancy terms are under negotiation.

11. ULTIMATE CONTROLLING PARTY

The Company was controlled throughout the current and previous period by the Kantaria family.