Registered number
04271913
Universal Pipe Enterprises Limited
Filleted Accounts
31 December 2024
Universal Pipe Enterprises Limited
Balance Sheet
as at 31 December 2024
2024 2023
£ £
Current assets
Debtors 24,111 24,932
Cash at bank and in hand 15,440 23,831
39,551 48,763
Current liabilities
Creditors: amounts falling due within one year (7,576) (8,696)
Net current assets 31,975 40,067
Total assets less current liabilities 31,975 40,067
Creditors: amounts falling due after more than one year (125,704) (131,747)
Net liabilities (93,729) (91,680)
Capital and reserves
Called up share capital 100 100
Profit and loss account (93,829) (91,780)
Shareholders' funds (93,729) (91,680)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Karl Lönngren
Director
Approved by the board on 2 April 2025
Universal Pipe Enterprises Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 25% straight line
Fixtures, fittings and equipment 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 4
3 Tangible fixed assets
Computer Equipment Fixtures, Fittings & Equipment Total
£ £ £
Cost
At 1 January 2024 1,126 22,701 23,827
At 31 December 2024 1,126 22,701 23,827
Depreciation
At 1 January 2024 1,126 22,701 23,827
At 31 December 2024 1,126 22,701 23,827
Net book value
At 31 December 2024 - - -
4 Debtors 2024 2023
£ £
Trade debtors 8,653 9,340
Other debtors 15,458 15,592
24,111 24,932
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 168 -
PAYE liabilities (inc. pension owed) 5,174 6,221
VAT account 434 675
Other creditors 1,800 1,800
7,576 8,696
6 Creditors: amounts falling due after one year 2024 2023
£ £
Loan - EKE 125,704 131,747
7 Related party transactions
Universal pipe Enterprises Ltd received a loan from EKE Finance to the sum of £131,747 (2022: £178,805)
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