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REGISTERED NUMBER: 08387747 (England and Wales)








































Pipeserv Limited

Unaudited Financial Statements

for the Year Ended 29th January 2025






Pipeserv Limited (Registered number: 08387747)






Contents of the Financial Statements
for the year ended 29th January 2025




Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 7


Pipeserv Limited

Company Information
for the year ended 29th January 2025







Director: B L Carnell





Registered office: Halidon House
17D Windmill Way West
Ramparts Business Park
Berwick Upon Tweed
Northumberland
TD15 1TB





Business address: Milldown Cottage
Coldingham
Eyemouth
Berwickshire
TD14 5QO





Registered number: 08387747 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Pipeserv Limited (Registered number: 08387747)

Statement of Financial Position
29th January 2025

2025 2024
Notes £    £    £   
Fixed assets
Tangible assets 4 110,124 72,387

Current assets
Debtors 5 51,152 19,859
Investments 6 1 1
Cash at bank 84,975 33,528
136,128 53,388
Creditors
Amounts falling due within one year 7 127,056 95,693
Net current assets/(liabilities) 9,072 (42,305 )
Total assets less current liabilities 119,196 30,082

Creditors
Amounts falling due after more than one
year

8

(3,215

)

(5,363

)

Provisions for liabilities (4,609 ) -
Net assets 111,372 24,719

Capital and reserves
Called up share capital 1 1
Retained earnings 111,371 24,718
Shareholders' funds 111,372 24,719

Pipeserv Limited (Registered number: 08387747)

Statement of Financial Position - continued
29th January 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th January 2025 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.

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 28th April 2025 and were signed by:





B L Carnell - Director


Pipeserv Limited (Registered number: 08387747)

Notes to the Financial Statements
for the year ended 29th January 2025

1. Statutory information

Pipeserv 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.

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.

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

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans, other loans, accruals and hire purchase contracts.

Hire purchase contracts and bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade debtors, trade creditors, other loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current 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 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 statement of financial position date.


Pipeserv Limited (Registered number: 08387747)

Notes to the Financial Statements - continued
for the year ended 29th January 2025

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals paid under operating leases are charged to profit and 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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Current asset investments
Current asset investments are stated at cost less provision for permanent diminution in value.

Going concern
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 4 (2024 - 3 ) .

Pipeserv Limited (Registered number: 08387747)

Notes to the Financial Statements - continued
for the year ended 29th January 2025

4. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 30th January 2024 104,356 73,510 5,615 183,481
Additions 6,795 53,268 1,231 61,294
Disposals - (15,000 ) - (15,000 )
At 29th January 2025 111,151 111,778 6,846 229,775
Depreciation
At 30th January 2024 53,895 51,584 5,615 111,094
Charge for year 7,740 13,019 406 21,165
Eliminated on disposal - (12,608 ) - (12,608 )
At 29th January 2025 61,635 51,995 6,021 119,651
Net book value
At 29th January 2025 49,516 59,783 825 110,124
At 29th January 2024 50,461 21,926 - 72,387

5. Debtors: amounts falling due within one year
2025 2024
£    £   
Trade debtors 50,487 19,194
Other debtors 665 665
51,152 19,859

6. Current asset investments
2025 2024
£    £   
Unlisted investments 1 1

7. Creditors: amounts falling due within one year
2025 2024
£    £   
Hire purchase contracts 2,148 1,911
Trade creditors 16,426 3,443
Taxation and social security 32,380 22,634
Other creditors 76,102 67,705
127,056 95,693

8. Creditors: amounts falling due after more than one year
2025 2024
£    £   
Hire purchase contracts 3,215 5,363

Pipeserv Limited (Registered number: 08387747)

Notes to the Financial Statements - continued
for the year ended 29th January 2025

9. Secured debts

The following secured debts are included within creditors:

2025 2024
£    £   
Hire purchase contracts 5,363 7,274

The HP liabilities are secured against the assets to which they relate.