1 January 2024 v2025.11.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP093417832024-01-012024-12-31093417832024-12-31093417832023-12-3109341783core:WithinOneYear2024-12-3109341783core:WithinOneYear2023-12-3109341783core:ShareCapital2024-12-3109341783core:ShareCapital2023-12-3109341783core:RetainedEarningsAccumulatedLosses2024-12-3109341783core:RetainedEarningsAccumulatedLosses2023-12-3109341783bus:Director12024-01-012024-12-3109341783bus:Director22024-01-012024-12-3109341783bus:Director32024-01-012024-12-3109341783bus:RegisteredOffice2024-01-012024-12-3109341783core:MotorVehicles2024-01-012024-12-3109341783core:PlantMachinery2024-01-012024-12-31093417832023-01-012023-12-3109341783core:PlantMachinery2024-01-0109341783core:PlantMachinery2024-12-3109341783core:PlantMachinery2023-12-310934178312024-01-012024-12-3109341783countries:EnglandWales2024-01-012024-12-3109341783bus:AuditExemptWithAccountantsReport2024-01-012024-12-3109341783bus:PrivateLimitedCompanyLtd2024-01-012024-12-3109341783bus:SmallEntities2024-01-012024-12-3109341783bus:FullAccounts2024-01-012024-12-31
Company registration number:
09341783
Pipeline Plumbing & Heating Engineers Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Pipeline Plumbing & Heating Engineers Ltd
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
34,556
 
24,220
 
Current assets    
Debtors 6
110,764
 
107,358
 
Cash at bank and in hand
344,461
 
252,201
 
455,225
 
359,559
 
Creditors: amounts falling due within one year 7
(154,290
)
(138,136
)
Net current assets
300,935
 
221,423
 
Total assets less current liabilities 335,491   245,643  
Provisions for liabilities
(8,639
)
(6,055
)
Net assets
326,852
 
239,588
 
Capital and reserves    
Called up share capital
154
 
154
 
Profit and loss account
326,698
 
239,434
 
Shareholders funds
326,852
 
239,588
 
For the year ending
31 December 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
19 February 2025
, and are signed on behalf of the board by:
S Loades
S Vaughan
M Collins
DirectorDirectorDirector
Company registration number:
09341783
Pipeline Plumbing & Heating Engineers Ltd
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
188 Chichester Road
,
Cleethorpes
,
North East Lincolnshire
,
DN35 0JW
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Changes in accounting policies

During the current financial period, the company adopted FRS 102 1A as the basis for preparing its accounts. As a result, the comparative figures have been restated, and the prior year adjustment shown in the accounts reflects the deferred tax balance at 31 December 2022 which has now been recognised.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered and goods supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
25% reducing balance
Plant and machinery
25% straight line

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2023:
5
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2024
59,646
 
Additions
19,983
 
Disposals
(17,557
)
At
31 December 2024
62,072
 
Depreciation  
At
1 January 2024
35,426
 
Charge
6,523
 
Disposals
(14,433
)
At
31 December 2024
27,516
 
Carrying amount  
At
31 December 2024
34,556
 
At 31 December 2023
24,220
 

6 Debtors

20242023
££
Trade debtors
66,851
 
62,154
 
Other debtors
43,913
 
45,204
 
110,764
 
107,358
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
33,396
 
43,105
 
Taxation and social security
78,744
 
59,210
 
Other creditors
42,150
 
35,821
 
154,290
 
138,136