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REGISTERED NUMBER: 01805228 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Pipeline Products Ltd

Pipeline Products Ltd (Registered number: 01805228)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Pipeline Products Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr R H Anderson
Mr M W Jones





REGISTERED OFFICE: 15 Concorde Drive
5C Business Centre
Clevedon
Bristol
Somerset
BS21 6UH





REGISTERED NUMBER: 01805228 (England and Wales)





ACCOUNTANTS: Dunkley's
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Pipeline Products Ltd (Registered number: 01805228)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,506 14,436
Tangible assets 5 174,558 176,513
185,064 190,949

CURRENT ASSETS
Stocks 1,720,758 1,712,419
Debtors 6 1,035,069 869,305
Cash at bank and in hand 475,360 478,523
3,231,187 3,060,247
CREDITORS
Amounts falling due within one year 7 917,345 896,020
NET CURRENT ASSETS 2,313,842 2,164,227
TOTAL ASSETS LESS CURRENT LIABILITIES 2,498,906 2,355,176

CREDITORS
Amounts falling due after more than one year 8 (26,849 ) (59,920 )

PROVISIONS FOR LIABILITIES (26,487 ) (24,349 )
NET ASSETS 2,445,570 2,270,907

CAPITAL AND RESERVES
Called up share capital 11 61,605 61,605
Retained earnings 2,383,965 2,209,302
SHAREHOLDERS' FUNDS 2,445,570 2,270,907

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Pipeline Products Ltd (Registered number: 01805228)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2025 and were signed on its behalf by:





Mr M W Jones - Director


Pipeline Products Ltd (Registered number: 01805228)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Pipeline Products Ltd 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, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

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.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 17% on cost

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Pipeline Products Ltd (Registered number: 01805228)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 16,102
Additions 2,070
At 31 December 2024 18,172
AMORTISATION
At 1 January 2024 1,666
Charge for year 6,000
At 31 December 2024 7,666
NET BOOK VALUE
At 31 December 2024 10,506
At 31 December 2023 14,436

Pipeline Products Ltd (Registered number: 01805228)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 274,069 112,872 83,450 32,409 502,800
Additions 3,040 26,107 - 13,636 42,783
Disposals (178,637 ) (13,147 ) - (657 ) (192,441 )
At 31 December 2024 98,472 125,832 83,450 45,388 353,142
DEPRECIATION
At 1 January 2024 214,997 45,450 43,394 22,446 326,287
Charge for year 8,007 10,651 18,487 5,446 42,591
Eliminated on disposal (176,569 ) (13,147 ) - (578 ) (190,294 )
At 31 December 2024 46,435 42,954 61,881 27,314 178,584
NET BOOK VALUE
At 31 December 2024 52,037 82,878 21,569 18,074 174,558
At 31 December 2023 59,072 67,422 40,056 9,963 176,513

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 52,995 73,950 16,250 143,195
Transfer to ownership - - (16,250 ) (16,250 )
At 31 December 2024 52,995 73,950 - 126,945
DEPRECIATION
At 1 January 2024 7,066 33,894 12,187 53,147
Charge for year 5,300 18,487 2,709 26,496
Transfer to ownership - - (14,896 ) (14,896 )
At 31 December 2024 12,366 52,381 - 64,747
NET BOOK VALUE
At 31 December 2024 40,629 21,569 - 62,198
At 31 December 2023 45,929 40,056 4,063 90,048

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 881,047 842,073
Amounts owed by group undertakings 5,891 -
Other debtors 97,994 2,180
Staff loans 1,352 -
Prepayments 48,785 25,052
1,035,069 869,305

Pipeline Products Ltd (Registered number: 01805228)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 339,231 410,709
Hire purchase contracts (see note 9) 23,716 25,676
Trade creditors 176,033 150,319
Tax 166,429 113,420
Social security and other taxes 19,529 19,882
VAT 162,909 152,729
Other creditors 17,015 20,421
Accrued expenses 12,483 2,864
917,345 896,020

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years 4,812 10,000
Bank loans - 2-5 years - 4,167
Hire purchase contracts (see note 9) 22,037 45,753
26,849 59,920

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 23,716 25,676
Between one and five years 22,037 45,753
45,753 71,429

Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 28,680 28,680
Between one and five years 64,530 93,210
93,210 121,890

Pipeline Products Ltd (Registered number: 01805228)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts 45,753 71,429
RBS 329,231 400,709
374,984 472,138

The RBS account relates to an invoice discounting agreement with RBS Invoice Finance Limited, and is secured by a fixed and floating charge over the company's assets.

Hire purchase contracts are secured by hired charges over the assets indicated in note 7.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
61,605 Ordinary £1 61,605 61,605

12. CAPITAL COMMITMENTS
31.12.24 31.12.23
£    £   
Contracted but not provided for in the
financial statements 644,115 721,938

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Pipeline Products Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pipeline Products Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pipeline Products Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pipeline Products Ltd and state those matters that we have agreed to state to the Board of Directors of Pipeline Products Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pipeline Products Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pipeline Products Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pipeline Products Ltd. You consider that Pipeline Products Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pipeline Products Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Dunkley's
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY


10 July 2025