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REGISTERED NUMBER: 12086443 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Pipex AB (UK) Limited

Previously known as
ECO50 Limited

Pipex AB (UK) Limited (Registered number: 12086443)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Pipex AB (UK) Limited

Company Information
for the year ended 31 July 2024







DIRECTORS: Mrs C M Taylor
Mr C P Taylor





REGISTERED OFFICE: Bicester Innovation Centre
Telford Road
Bicester
Oxfordshire
OX26 4LD





REGISTERED NUMBER: 12086443 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Pipex AB (UK) Limited (Registered number: 12086443)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,000 2,263

CURRENT ASSETS
Debtors 5 274,630 218,214
Cash at bank and in hand 207,104 110,296
481,734 328,510
CREDITORS
Amounts falling due within one year 6 162,121 133,861
NET CURRENT ASSETS 319,613 194,649
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,613

196,912

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 320,513 196,812
SHAREHOLDERS' FUNDS 320,613 196,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





Mr C P Taylor - Director


Pipex AB (UK) Limited (Registered number: 12086443)

Notes to the Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Pipex AB (UK) 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 company's principal place of business is the same as the registered office address.

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.

The financial statements are prepared in Sterling (£) and made up to 31st July each year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the rendering services is recognised by reference to the amount of work conducted at an agreed rate within the reporting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company makes payments to a defined contribution pension scheme in the name of its directors. Contributions payable to this pension scheme are charged to profit or loss in the period to which they relate.

Pipex AB (UK) Limited (Registered number: 12086443)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2023
and 31 July 2024 5,049
DEPRECIATION
At 1 August 2023 2,786
Charge for year 1,263
At 31 July 2024 4,049
NET BOOK VALUE
At 31 July 2024 1,000
At 31 July 2023 2,263

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 274,630 179,793
Other debtors - 38,421
274,630 218,214

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 135,626 88,564
Other creditors 26,495 45,297
162,121 133,861

Pipex AB (UK) Limited (Registered number: 12086443)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

7. FINANCIAL RISK MANAGEMENT

The company has exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company has some exposure to foreign currency fluctuations as a number of its purchases are denominated in Euros (€), the company manages this risk by maintaining a Euro (€) bank account and ensuring that it holds a level of foreign currency to enable to mitigate short term currency fluctuations.

Credit risk
The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. There are no significant non-derivative financial liability remaining at the reporting date.

Market risk
There is a market risk associated with the fluctuation in demand for the services provided. Most of this is mitigated by monitoring the markets.

The company holds no derivative financial instruments at the year end.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
100 100