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REGISTERED NUMBER: 03617402 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Oxford Pipework Services Limited

Oxford Pipework Services Limited (Registered number: 03617402)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Oxford Pipework Services Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr M Smith
Mr H Stevens





SECRETARY: Mrs L J Smith





REGISTERED OFFICE: Unit 7
Burcot Farm
Clifton Hampden
Abingdon
OX14 3DL
OX14 3GW





REGISTERED NUMBER: 03617402 (England and Wales)





ACCOUNTANTS: Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

Oxford Pipework Services Limited (Registered number: 03617402)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,000 60,000
Tangible assets 5 94,398 80,844
134,398 140,844

CURRENT ASSETS
Debtors 6 1,286,341 1,369,154
Cash at bank 767,950 682,235
2,054,291 2,051,389
CREDITORS
Amounts falling due within one year 7 1,640,730 1,748,916
NET CURRENT ASSETS 413,561 302,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

547,959

443,317

CREDITORS
Amounts falling due after more than one
year

8

(32,072

)

(56,159

)

PROVISIONS FOR LIABILITIES (21,919 ) (20,211 )
NET ASSETS 493,968 366,947

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 493,966 366,945
SHAREHOLDERS' FUNDS 493,968 366,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Oxford Pipework Services Limited (Registered number: 03617402)

Balance Sheet - continued
30 April 2024


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 15 January 2025 and were signed on its behalf by:





Mr M Smith - Director


Oxford Pipework Services Limited (Registered number: 03617402)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Oxford Pipework Services 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

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.

Turnover
Turnover represents contract work carried out and similar services, excluding value added tax. Where a contract spans an accounting period income is recognised based upon the percentage completion of the contract. The percentage completion is considered to be the costs incurred compared to the total expected costs for the contract.

Where a contract exists between the Company and the client, work in progress is recognised as "Amounts due from customers for contract work". Where this figure is negative because sales invoices have been raised in advance of work done, such a figure is recognised in creditors as "Amounts due to customers for contract work".

Goodwill
Goodwill relates to the purchase of an unincorporated business in March 2021. It is being written off evenly over its estimated useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property Improvement - 10% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

An asset purchase is categorised as a fixed asset where its expected useful life is expected to exceed one year.

Oxford Pipework Services Limited (Registered number: 03617402)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 29 ) .

Oxford Pipework Services Limited (Registered number: 03617402)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 100,000
AMORTISATION
At 1 May 2023 40,000
Charge for year 20,000
At 30 April 2024 60,000
NET BOOK VALUE
At 30 April 2024 40,000
At 30 April 2023 60,000

5. TANGIBLE FIXED ASSETS
Leasehold
property Plant and Computer
Improvement machinery equipment Totals
£    £    £    £   
COST
At 1 May 2023 25,236 107,141 40,976 173,353
Additions - 53,634 5,528 59,162
Disposals - (22,500 ) - (22,500 )
At 30 April 2024 25,236 138,275 46,504 210,015
DEPRECIATION
At 1 May 2023 25,236 33,803 33,470 92,509
Charge for year - 24,198 5,510 29,708
Eliminated on disposal - (6,600 ) - (6,600 )
At 30 April 2024 25,236 51,401 38,980 115,617
NET BOOK VALUE
At 30 April 2024 - 86,874 7,524 94,398
At 30 April 2023 - 73,338 7,506 80,844

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 936,737 876,649
Gross amounts due from
customers for contract work 261,595 401,812
Other debtors 88,009 90,693
1,286,341 1,369,154

Oxford Pipework Services Limited (Registered number: 03617402)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 9,838 9,838
Hire purchase contracts (see note 9) 29,695 22,800
Gross amounts due to customers for
contract work

692,094

281,596
Trade creditors 696,226 1,283,627
Taxation and social security 162,936 111,952
Other creditors 49,941 39,103
1,640,730 1,748,916

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 10,590 20,496
Hire purchase contracts (see note 9) 21,482 35,663
32,072 56,159

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 29,695 22,800
Between one and five years 21,482 35,663
51,177 58,463

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 39,654 40,841
Between one and five years 28,640 62,601
68,294 103,442

10. RELATED PARTY DISCLOSURES

Other creditors includes an amount due to the director of £714 (2023 - £73).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Oxford Pipework Services Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oxford Pipework Services Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Oxford Pipework Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oxford Pipework Services Limited and state those matters that we have agreed to state to the Board of Directors of Oxford Pipework Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oxford Pipework Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Oxford Pipework Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oxford Pipework Services Limited. You consider that Oxford Pipework Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oxford Pipework Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT


Date: .............................................