Company Registration No. 03428349 (England and Wales)
S.M.P. Pipe Systems Limited
Unaudited accounts
for the year ended 30 September 2024
S.M.P. Pipe Systems Limited
Unaudited accounts
Contents
S.M.P. Pipe Systems Limited
Company Information
for the year ended 30 September 2024
Directors
Michael Preen
Stanley Preen
Company Number
03428349 (England and Wales)
Registered Office
185 Beacon Park Road
Plymouth
PL2 2QS
Accountants
McWhite Tax & Accounts
C/O 23 Dolphin Court Road
Plymstock
PLYMOUTH
Devon
PL9 8SA
S.M.P. Pipe Systems Limited
Statement of financial position
as at 30 September 2024
Investment property
210,000
210,000
Cash at bank and in hand
24,821
23,092
Creditors: amounts falling due within one year
(9,876)
(14,346)
Net current assets
15,065
14,094
Total assets less current liabilities
250,775
244,094
Provisions for liabilities
Deferred tax
(12,777)
(15,384)
Net assets
237,998
228,710
Called up share capital
4
4
Profit and loss account
237,994
228,706
Shareholders' funds
237,998
228,710
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by
Michael Preen
Director
Company Registration No. 03428349
S.M.P. Pipe Systems Limited
Notes to the Accounts
for the year ended 30 September 2024
S.M.P. Pipe Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 03428349. The registered office is 185 Beacon Park Road, Plymouth, PL2 2QS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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 remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
33% on cost
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Short term debtors are measured at transaction price, less any impairment
Short term creditors are measured at the transaction price.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
S.M.P. Pipe Systems Limited
Notes to the Accounts
for the year ended 30 September 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Total
At 30 September 2024
18,288
At 30 September 2024
18,288
5
Average number of employees
During the year the average number of employees was 5 (2023: 5).