Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 11207028 Mr Richard Joyce Mr Dermot Joyce iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11207028 2023-02-28 11207028 2024-02-28 11207028 2023-03-01 2024-02-28 11207028 frs-core:CurrentFinancialInstruments 2024-02-28 11207028 frs-core:Non-currentFinancialInstruments 2024-02-28 11207028 frs-core:BetweenOneFiveYears 2024-02-28 11207028 frs-core:ComputerEquipment 2024-02-28 11207028 frs-core:ComputerEquipment 2023-03-01 2024-02-28 11207028 frs-core:ComputerEquipment 2023-02-28 11207028 frs-core:MotorVehicles 2024-02-28 11207028 frs-core:MotorVehicles 2023-03-01 2024-02-28 11207028 frs-core:MotorVehicles 2023-02-28 11207028 frs-core:PlantMachinery 2024-02-28 11207028 frs-core:PlantMachinery 2023-03-01 2024-02-28 11207028 frs-core:PlantMachinery 2023-02-28 11207028 frs-core:WithinOneYear 2024-02-28 11207028 frs-core:ShareCapital 2024-02-28 11207028 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 11207028 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 11207028 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 11207028 frs-bus:SmallEntities 2023-03-01 2024-02-28 11207028 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 11207028 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 11207028 frs-bus:Director1 2023-03-01 2024-02-28 11207028 frs-bus:Director2 2023-03-01 2024-02-28 11207028 frs-core:CurrentFinancialInstruments 2 2024-02-28 11207028 frs-countries:EnglandWales 2023-03-01 2024-02-28 11207028 2022-02-28 11207028 2023-02-28 11207028 2022-03-01 2023-02-28 11207028 frs-core:CurrentFinancialInstruments 2023-02-28 11207028 frs-core:Non-currentFinancialInstruments 2023-02-28 11207028 frs-core:BetweenOneFiveYears 2023-02-28 11207028 frs-core:WithinOneYear 2023-02-28 11207028 frs-core:ShareCapital 2023-02-28 11207028 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 11207028 frs-core:CurrentFinancialInstruments 2 2023-02-28
Registered number: 11207028
R2 Pipe Tech Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
DEB Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11207028
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,032 13,339
19,032 13,339
CURRENT ASSETS
Stocks 2,690 3,000
Debtors 5 37,696 49,477
Cash at bank and in hand 3,033 2,439
43,419 54,916
Creditors: Amounts Falling Due Within One Year 6 (85,364 ) (98,038 )
NET CURRENT ASSETS (LIABILITIES) (41,945 ) (43,122 )
TOTAL ASSETS LESS CURRENT LIABILITIES (22,913 ) (29,783 )
Creditors: Amounts Falling Due After More Than One Year 7 (34,633 ) (36,767 )
NET LIABILITIES (57,546 ) (66,550 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (57,646 ) (66,650 )
SHAREHOLDERS' FUNDS (57,546) (66,550)
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Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Joyce
Director
09/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
R2 Pipe Tech Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11207028 . The registered office is DEB House, 19 Middlewoods Way, Wharncliffe Business park, Carlton, Barnsley, S71 3HR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company is dependent on the continued support from a director in the form of a director loan. The director has indicated that he does not intend to request repayment until the company has the available funds to do so. Accordingly the directors believe that the going concern basis is appropriate.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance method
Motor Vehicles 25% reducing balance method
Computer Equipment 25% reducing balance method
2.5. Leasing and Hire Purchase Contracts
Assets obtained under 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 the 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 and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 44,941 - 930 45,871
Additions - 12,037 - 12,037
As at 28 February 2024 44,941 12,037 930 57,908
Depreciation
As at 1 March 2023 31,838 - 694 32,532
Provided during the period 3,276 3,009 59 6,344
As at 28 February 2024 35,114 3,009 753 38,876
Net Book Value
As at 28 February 2024 9,827 9,028 177 19,032
As at 1 March 2023 13,103 - 236 13,339
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,205 26,270
Prepayments and accrued income 4,284 -
Amounts owed by associates 23,207 23,207
37,696 49,477
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,997 -
Trade creditors 2,909 21,468
Bank loans and overdrafts 5,882 5,882
PAYE 3,136 -
VAT 7,578 10,078
Wages 474 -
Pension 178 -
Accruals and deferred income 210 610
Directors' loan accounts 60,000 60,000
85,364 98,038
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,748 -
Bounceback loan 30,885 36,767
34,633 36,767
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,997 -
Later than one year and not later than five years 3,748 -
8,745 -
8,745 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
The company is controlled by Mr R Joyce and Mr D Joyce, directors and shareholders of the company.
During the year £42,540 (2023 - £28,303) was paid to R Joyce in respect of consultancy fees.
The balance on the directors' loan account of Mr D Joyce was £60,000 due from the company (2023 - £60,000).
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