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REGISTERED NUMBER: 02955834 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

DIRECT AIR & PIPEWORK LIMITED

DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIRECT AIR & PIPEWORK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: A J Dolby





SECRETARY: Mrs M C Dolby





REGISTERED OFFICE: Unit 38, Herald Way
Binley Industrial Estate
Coventry
CV3 2RQ





REGISTERED NUMBER: 02955834 (England and Wales)





ACCOUNTANTS: Walker Thompson Ltd
Accountants & Registered Auditors
Empress House
43a Binley Road
Coventry
CV3 1HU

DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 713,783 760,386
Investments 5 545,933 500,976
1,259,716 1,261,362

CURRENT ASSETS
Stocks 6 989,132 804,139
Debtors 7 1,515,857 1,992,252
Cash at bank and in hand 1,957,228 1,307,436
4,462,217 4,103,827
CREDITORS
Amounts falling due within one year 8 1,513,772 1,539,305
NET CURRENT ASSETS 2,948,445 2,564,522
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,208,161

3,825,884

CREDITORS
Amounts falling due after more than one
year

9

(58,532

)

(98,795

)

PROVISIONS FOR LIABILITIES (149,789 ) (173,386 )
NET ASSETS 3,999,840 3,553,703

CAPITAL AND RESERVES
Called up share capital 12 17,002 17,002
Retained earnings 3,982,838 3,536,701
SHAREHOLDERS' FUNDS 3,999,840 3,553,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)

BALANCE SHEET - continued
31 AUGUST 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 director and authorised for issue on 22 April 2025 and were signed by:





A J Dolby - Director


DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)

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

1. STATUTORY INFORMATION

Direct Air & Pipework 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, and is recognised at the time of invoice.

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.
Fixtures & fittings - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Hire plant - 10% on cost
Motor Vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance

It is the company's policy to account for fixed assets where the aggregate value of an asset is £1,000 or greater.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
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
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.

Pension costs and other post-retirement benefits
The Company operates a money purchase pension scheme for its employees in line with current statutory requirements.The directors contributions are paid into a Small Self Administered Scheme. Contributions payable for the year are charged to the profit and loss account on a cash basis.

Pensioners who have left the company with post retirement benefits receive their pensions directly from the scheme.

Investments
Investments are recognised as fixed assets on the Balance Sheet, and represents capital that has been allocated to a portfolio of various funds on the public stock market. The investments are initially measured at cost and then revalued to fair value at the balance sheet date, with any unrecognised gains or losses taken to the Income Statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 49 ) .

DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Fixtures Plant and Hire
& fittings machinery plant
£    £    £   
COST
At 1 September 2023 304,069 54,859 102,924
Additions 31,064 4,690 -
At 31 August 2024 335,133 59,549 102,924
DEPRECIATION
At 1 September 2023 119,446 34,155 102,924
Charge for year 32,353 3,809 -
At 31 August 2024 151,799 37,964 102,924
NET BOOK VALUE
At 31 August 2024 183,334 21,585 -
At 31 August 2023 184,623 20,704 -

Motor Office
Vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 898,045 332,156 1,692,053
Additions 104,385 4,027 144,166
At 31 August 2024 1,002,430 336,183 1,836,219
DEPRECIATION
At 1 September 2023 451,570 223,572 931,667
Charge for year 137,715 16,892 190,769
At 31 August 2024 589,285 240,464 1,122,436
NET BOOK VALUE
At 31 August 2024 413,145 95,719 713,783
At 31 August 2023 446,475 108,584 760,386

DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 September 2023 375,009
Additions 76,035
Transfer to ownership (73,490 )
At 31 August 2024 377,554
DEPRECIATION
At 1 September 2023 134,790
Charge for year 79,064
Transfer to ownership (53,180 )
At 31 August 2024 160,674
NET BOOK VALUE
At 31 August 2024 216,880
At 31 August 2023 240,219

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 September 2023 500,976
Revaluations 44,957
At 31 August 2024 545,933
NET BOOK VALUE
At 31 August 2024 545,933
At 31 August 2023 500,976

Cost or valuation at 31 August 2024 is represented by:

Other
investments
£   
Valuation in 2023 5,597
Valuation in 2024 44,957
Cost 495,379
545,933

DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. STOCKS
2024 2023
£    £   
Stocks 989,132 804,139

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,349,695 1,833,934
Other debtors 166,162 158,318
1,515,857 1,992,252

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 90,595 95,561
Trade creditors 1,042,749 1,183,052
Taxation and social security 355,395 158,354
Other creditors 25,033 102,338
1,513,772 1,539,305

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 58,532 98,795

DIRECT AIR & PIPEWORK LIMITED (REGISTERED NUMBER: 02955834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 100,049 106,944
Between one and five years 63,398 105,020
163,447 211,964

Finance charges repayable:
Within one year 9,454 11,383
Between one and five years 4,866 6,225
14,320 17,608

Net obligations repayable:
Within one year 90,595 95,561
Between one and five years 58,532 98,795
149,127 194,356

Non-cancellable operating leases
2024 2023
£    £   
Within one year 172,469 139,969
Between one and five years 447,016 137,819
619,485 277,788

11. SECURED DEBTS

The company has maintained in place a debenture over all assets with its bank, albeit that it operates currently without any facilities.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
17,002 Ordinary £1 17,002 17,002