Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseThey perform R&D to revolutionise the design of deep sea pipelines.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08366997 2023-04-01 2024-03-31 08366997 2022-04-01 2023-03-31 08366997 2024-03-31 08366997 2023-03-31 08366997 c:Director2 2023-04-01 2024-03-31 08366997 d:CurrentFinancialInstruments 2024-03-31 08366997 d:CurrentFinancialInstruments 2023-03-31 08366997 d:Non-currentFinancialInstruments 2024-03-31 08366997 d:Non-currentFinancialInstruments 2023-03-31 08366997 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08366997 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08366997 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08366997 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08366997 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 08366997 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08366997 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 08366997 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08366997 d:ShareCapital 2024-03-31 08366997 d:ShareCapital 2023-03-31 08366997 d:SharePremium 2024-03-31 08366997 d:SharePremium 2023-03-31 08366997 d:RetainedEarningsAccumulatedLosses 2024-03-31 08366997 d:RetainedEarningsAccumulatedLosses 2023-03-31 08366997 c:FRS102 2023-04-01 2024-03-31 08366997 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08366997 c:FullAccounts 2023-04-01 2024-03-31 08366997 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08366997 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 08366997












VERDERG PIPE TECHNOLOGY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
 31 MARCH 2024



















 


img553f.png
01483 755 399
hamlyns.com

 
VERDERG PIPE TECHNOLOGY LIMITED
REGISTERED NUMBER: 08366997

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
17,203
10,907

Cash at bank and in hand
  
30,244
44,806

  
47,447
55,713

Creditors: amounts falling due within one year
 5 
(26,471)
(376,238)

Net current assets/(liabilities)
  
 
 
20,976
 
 
(320,525)

Total assets less current liabilities
  
20,976
(320,525)

Creditors: amounts falling due after more than one year
 6 
(528,938)
(21,751)

  

Net liabilities
  
(507,962)
(342,276)


Capital and reserves
  

Called up share capital 
  
10,120
10,120

Share premium account
  
492,000
492,000

Profit and loss account
  
(1,010,082)
(844,396)

  
(507,962)
(342,276)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2024.




R A Martins Filho
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
VERDERG PIPE TECHNOLOGY LIMITED
REGISTERED NUMBER: 08366997

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


Page 2

 
VERDERG PIPE TECHNOLOGY LIMITED
 

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

1.


Statutory information

Verderg Pipe Technology 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. 
The presentation currency of the financial statements is the Pound Sterling (£). 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors' believe that the company’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. The directors will not seek repayment of their loans in such a way to prejudice the company's ability to continue as a going concern.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
VERDERG PIPE TECHNOLOGY LIMITED
 

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

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Other debtors
17,203
10,907

17,203
10,907


Page 4

 
VERDERG PIPE TECHNOLOGY LIMITED
 

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

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,337
10,146

Trade creditors
14,165
5,004

Other creditors
1,969
361,088

26,471
376,238



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,415
21,751

Other creditors
517,523
-

528,938
21,751



7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,337
10,146


10,337
10,146

Amounts falling due 1-2 years

Bank loans
10,529
10,337


10,529
10,337

Amounts falling due 2-5 years

Bank loans
886
11,415


886
11,415


21,752
31,898



Page 5