Registered number
SC321790
Pipework Engineering ( 2007 ) Limited
Filleted Accounts
31 March 2024
Pipework Engineering ( 2007 ) Limited
Registered number: SC321790
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,018 6,119
Current assets
Cash at bank and in hand 2,805 4,490
Creditors: amounts falling due within one year 4 (116,336) (101,476)
Net current liabilities (113,531) (96,986)
Net liabilities (108,513) (90,867)
Capital and reserves
Called up share capital 2 2
Profit and loss account (108,515) (90,869)
Shareholders' funds (108,513) (90,867)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Martin
Director
Approved by the board on 11 November 2024
Pipework Engineering ( 2007 ) Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtues and fittings Motor vehicles Total
£ £ £
Cost
At 1 April 2023 9,805 9,100 18,905
At 31 March 2024 9,805 9,100 18,905
Depreciation
At 1 April 2023 9,805 2,981 12,786
Charge for the year - 1,101 1,101
At 31 March 2024 9,805 4,082 13,887
Net book value
At 31 March 2024 - 5,018 5,018
At 31 March 2023 - 6,119 6,119
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 763 863
Other creditors 115,573 100,613
116,336 101,476
5 Controlling party
Mr A and Mrs M Martin are the sole shareholders in the company.
6 Other information
Pipework Engineering ( 2007 ) Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Flat 1/1
24 Trefoil Avenue
Shawlands
Glasgow
G41 3PF
7 Going concern basis
The director is the significant long term creditor of the company and he confirms that all financial liabilities of the company will be met within terms of payment.
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