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Registered number: 11121769










PIPE HOLDINGS INTERNATIONAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PIPE HOLDINGS INTERNATIONAL LIMITED
REGISTERED NUMBER: 11121769

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,861
2,177

Investments
 5 
653,799
494,173

  
655,660
496,350

Current assets
  

Debtors: amounts falling due within one year
 6 
28,741
15,384

Cash at bank and in hand
 7 
10,301
3,097

  
39,042
18,481

Creditors: amounts falling due within one year
 8 
(710,455)
(501,460)

Net current liabilities
  
 
 
(671,413)
 
 
(482,979)

Total assets less current liabilities
  
(15,753)
13,371

Net (liabilities)/assets
  
(15,753)
13,371


Capital and reserves
  

Called up share capital 
 9 
6,150
6,150

Revaluation reserve
  
(79,269)
(14,364)

Profit and loss account
  
57,366
21,585

  
(15,753)
13,371


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

J P S Curry
Director

Date: 4 April 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
PIPE HOLDINGS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Pipe International Holdings Limited is a private Company, limited by share capital and incorporated in England and Wales.
The Company's registered office address is Field Lodge, Steventon, Hampshire, RG25 3AY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. The director believes the Company has sufficient support to continue for the next twelve months. The director will not require repayment of the loan unless the Company has sufficient funds.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
PIPE HOLDINGS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 3

 
PIPE HOLDINGS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2024
2,672


Additions
752



At 31 December 2024

3,424



Depreciation


At 1 January 2024
495


Charge for the year on owned assets
1,068



At 31 December 2024

1,563



Net book value



At 31 December 2024
1,861



At 31 December 2023
2,177


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 January 2024
494,173


Additions
573,075


Disposals
(337,570)


Revaluations
(75,879)



At 31 December 2024
653,799

Page 4

 
PIPE HOLDINGS INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£

Deferred taxation
28,741
15,384

28,741
15,384



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
10,301
3,097

10,301
3,097



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
705,405
497,160

Accruals and deferred income
5,050
4,300

710,455
501,460



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



6,150 (2023 - 6,150) Ordinary shares of £1 each
6,150
6,150



10.


Related party transactions

At the year end the Company owed its director £705,405 (2023: £497,160). This amount is interest free and repayable upon demand.


Page 5