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REGISTERED NUMBER: 10489088 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Octaipipe Limited

Octaipipe Limited (Registered number: 10489088)






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


Octaipipe Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: I P Scattergood
Superseed Ventures LLP
E Topham





REGISTERED OFFICE: 124 City Road
London
EC1V 2NX





REGISTERED NUMBER: 10489088 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Octaipipe Limited (Registered number: 10489088)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,915 7,678

CURRENT ASSETS
Debtors 5 314,678 281,617
Cash at bank 1,408,187 45,025
1,722,865 326,642
CREDITORS
Amounts falling due within one year 6 134,911 307,290
NET CURRENT ASSETS 1,587,954 19,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,603,869

27,030

CREDITORS
Amounts falling due after more than one
year

7

(77,486

)

(100,680

)

PROVISIONS FOR LIABILITIES - (1,459 )
NET ASSETS/(LIABILITIES) 1,526,383 (75,109 )

CAPITAL AND RESERVES
Called up share capital 8 21,036 11,311
Share premium 3,569,172 600,857
Retained earnings (2,063,825 ) (687,277 )
SHAREHOLDERS' FUNDS 1,526,383 (75,109 )

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.

Octaipipe Limited (Registered number: 10489088)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





I P Scattergood - Director


Octaipipe Limited (Registered number: 10489088)

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

1. STATUTORY INFORMATION

Octaipipe 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.

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.

There were no material departures from that standard.

The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Office equipment - 33% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Octaipipe Limited (Registered number: 10489088)

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

2. ACCOUNTING POLICIES - continued

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.

Grants receivable
Revenue based grants are credited to the profit and loss account. Capital based grants are credited to the profit and loss account, in equal instalments, over the estimated useful life of the related asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 May 2023 3,400 18,323 21,723
Additions - 12,577 12,577
At 30 April 2024 3,400 30,900 34,300
DEPRECIATION
At 1 May 2023 2,715 11,330 14,045
Charge for year 226 4,114 4,340
At 30 April 2024 2,941 15,444 18,385
NET BOOK VALUE
At 30 April 2024 459 15,456 15,915
At 30 April 2023 685 6,993 7,678

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 252,750 73,376
Other debtors 56,287 199,852
Prepayments and accrued income 5,641 8,389
314,678 281,617

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,000 215,613
Trade creditors 26,833 27,875
Taxation and social security 38,452 18,799
Other creditors 5,347 16,721
Accruals and deferred income 42,279 28,282
134,911 307,290

Octaipipe Limited (Registered number: 10489088)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Loans 77,486 100,680

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
Value: £ £
114,459 Ordinary 10p 11,446 11,311
160 Ordinary B 10p 16 -
95,736 Seed 10p 9,574 -
21,036 11,311

Class - Ordinary
Each share is entitled to one vote in any circumstances. Each share is entitled pari passu to dividend payments or any other distribution. Each share is entitled pari passu to participate in a distribution arising from a winding up of the company.

Class - Ordinary B
Ordinary B shares do not have voting rights. A right to dividends and upon a distribution of assets on a liquidation or a return of capital the ordinary B shares receive amounts in accordance with article 5 of the articles.

Class - Seed
Seed shares are entitled to voting and dividends. Upon a distribution of assets on a liquidation or a return of capital the seed shares receive amount in accordance with article 5 of the articles.