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REGISTERED NUMBER: 11571365 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

North East Pipeline Solutions Ltd

North East Pipeline Solutions Ltd (Registered number: 11571365)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


North East Pipeline Solutions Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: C D Scott





REGISTERED OFFICE: Unit 1A
Buddle Industrial Estate
Wallsend
Tyne and Wear
NE28 6DL





REGISTERED NUMBER: 11571365 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

North East Pipeline Solutions Ltd (Registered number: 11571365)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,481 62,246

CURRENT ASSETS
Debtors 5 111,628 82,413
Cash at bank 226,269 198,922
337,897 281,335
CREDITORS
Amounts falling due within one year 6 185,118 218,269
NET CURRENT ASSETS 152,779 63,066
TOTAL ASSETS LESS CURRENT
LIABILITIES

244,260

125,312

CREDITORS
Amounts falling due after more than one
year

7

-

(435

)

PROVISIONS FOR LIABILITIES 10 (21,370 ) (11,554 )
NET ASSETS 222,890 113,323

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 222,790 113,223
SHAREHOLDERS' FUNDS 222,890 113,323

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

North East Pipeline Solutions Ltd (Registered number: 11571365)

Balance Sheet - continued
30 September 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 director and authorised for issue on 7 January 2025 and were signed by:





C D Scott - Director


North East Pipeline Solutions Ltd (Registered number: 11571365)

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

1. STATUTORY INFORMATION

North East Pipeline Solutions Ltd 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 principal accounting policies adopted in the preparation of the financial statements are set out below and 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.

Income Recognition
Revenue is recognised on completion of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

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

Taxation
Taxation for the period 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.

North East Pipeline Solutions Ltd (Registered number: 11571365)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 33,639 1,494 65,892 3,406 104,431
Additions 3,457 - 55,045 1,391 59,893
Disposals - - (21,300 ) - (21,300 )
At 30 September 2024 37,096 1,494 99,637 4,797 143,024
DEPRECIATION
At 1 October 2023 10,030 291 30,842 1,022 42,185
Charge for year 3,845 180 13,724 455 18,204
Eliminated on disposal - - (8,846 ) - (8,846 )
At 30 September 2024 13,875 471 35,720 1,477 51,543
NET BOOK VALUE
At 30 September 2024 23,221 1,023 63,917 3,320 91,481
At 30 September 2023 23,609 1,203 35,050 2,384 62,246

North East Pipeline Solutions Ltd (Registered number: 11571365)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 6,125
DEPRECIATION
At 1 October 2023 2,584
Charge for year 885
At 30 September 2024 3,469
NET BOOK VALUE
At 30 September 2024 2,656
At 30 September 2023 3,541

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,405 53,112
Other debtors 32,173 28,783
Prepayments and accrued income 50 518
111,628 82,413

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 435 2,471
Trade creditors 96,231 159,000
Taxation and social security 57,809 31,618
Other creditors 21,082 17,723
Directors' current accounts - 21
Accruals and deferred income 9,561 7,436
185,118 218,269

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) - 435

North East Pipeline Solutions Ltd (Registered number: 11571365)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 435 2,471
Between one and five years - 435
435 2,906

Non-cancellable operating leases
2024 2023
£    £   
Within one year 25,004 12,996
Between one and five years 45,355 -
70,359 12,996

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 435 2,906

Hire purchase contracts are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 21,370 11,554

Deferred
tax
£   
Balance at 1 October 2023 11,554
Accelerated capital allowances 9,816
Balance at 30 September 2024 21,370

North East Pipeline Solutions Ltd (Registered number: 11571365)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 Ordinary £1 90 90
10 Ordinary A £1 10 10
100 100

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions conducted at a market rate.

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.


2024 2023
£ £

Amounts due to director - 21

No interest was charged.