Triple Pipeline Ltd 13343700 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of business and domestic software development. Digita Accounts Production Advanced 6.30.9574.0 true true 13343700 2023-06-01 2024-05-31 13343700 2024-05-31 13343700 bus:OrdinaryShareClass1 2024-05-31 13343700 bus:OrdinaryShareClass2 2024-05-31 13343700 bus:OrdinaryShareClass3 2024-05-31 13343700 bus:OrdinaryShareClass4 2024-05-31 13343700 core:CurrentFinancialInstruments 2024-05-31 13343700 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 13343700 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 13343700 bus:SmallEntities 2023-06-01 2024-05-31 13343700 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 13343700 bus:FullAccounts 2023-06-01 2024-05-31 13343700 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13343700 bus:RegisteredOffice 2023-06-01 2024-05-31 13343700 bus:Director1 2023-06-01 2024-05-31 13343700 bus:Director2 2023-06-01 2024-05-31 13343700 bus:Director3 2023-06-01 2024-05-31 13343700 bus:Director4 2023-06-01 2024-05-31 13343700 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 13343700 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 13343700 bus:OrdinaryShareClass3 2023-06-01 2024-05-31 13343700 bus:OrdinaryShareClass4 2023-06-01 2024-05-31 13343700 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13343700 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 13343700 countries:AllCountries 2023-06-01 2024-05-31 13343700 2023-05-31 13343700 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 13343700 2022-06-01 2023-05-31 13343700 2023-05-31 13343700 bus:OrdinaryShareClass1 2023-05-31 13343700 bus:OrdinaryShareClass2 2023-05-31 13343700 bus:OrdinaryShareClass3 2023-05-31 13343700 bus:OrdinaryShareClass4 2023-05-31 13343700 core:CurrentFinancialInstruments 2023-05-31 13343700 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13343700 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13343700

Triple Pipeline Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Triple Pipeline Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Triple Pipeline Ltd

Company Information

Directors

Mr Robert Thomas McBride

Mr Liam Dean Broadbent

Mr Shaun Slack

Mr Ian Keith Sutcliffe

Registered office

C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

Accountants

Smith Butler Ltd
Accountants & Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

Triple Pipeline Ltd

(Registration number: 13343700)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

191,558

513,645

Current assets

 

Debtors

5

199,623

96,053

Cash at bank and in hand

 

4,159

34,282

 

203,782

130,335

Creditors: Amounts falling due within one year

6

(1,030,234)

(1,029,739)

Net current liabilities

 

(826,452)

(899,404)

Net liabilities

 

(634,894)

(385,759)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(634,994)

(385,859)

Shareholders' deficit

 

(634,894)

(385,759)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

.........................................
Mr Shaun Slack
Director

 

Triple Pipeline Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX
United Kingdom

These financial statements were authorised for issue by the Board on 22 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Intangible assets

Intangible asset relates to the development of revolutionary software to track and capture all elements of Environmental, Social and Governance for SME businesses.

Development costs are being amortised evenly over their estimated useful life o three years.

 

Triple Pipeline Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Triple Pipeline Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 June 2023

966,263

966,263

At 31 May 2024

966,263

966,263

Amortisation

At 1 June 2023

452,618

452,618

Amortisation charge

322,087

322,087

At 31 May 2024

774,705

774,705

Carrying amount

At 31 May 2024

191,558

191,558

At 31 May 2023

513,645

513,645

5

Debtors

Current

2024
£

2023
£

Other debtors

199,623

96,053

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,028,780

1,028,890

Other creditors

1,454

849

1,030,234

1,029,739

 

Triple Pipeline Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

30

30

30

30

Ordinary B of £1 each

30

30

30

30

Ordinary C of £1 each

30

30

30

30

Ordinary D of £1 each

10

10

10

10

 

100

100

100

100