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REGISTERED NUMBER: 06920032 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Pipework Limited

Pipework Limited (Registered number: 06920032)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pipework Limited

Company Information
for the Year Ended 30 November 2024







Directors: Mr T M Vallely
Mr G Vallely





Registered office: 11 Lansdowne Road
Chadderton
Oldham
Lancashire
OL9 9EG





Registered number: 06920032 (England and Wales)





Accountants: Allen Mills Howard & Co
Library Chambers
48 Union Street
Hyde
Cheshire
SK14 1ND

Pipework Limited (Registered number: 06920032)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,214,833 789,987

Current assets
Stocks 123,173 225,476
Debtors 5 1,569,918 1,553,405
Cash at bank and in hand 325,371 362,244
2,018,462 2,141,125
Creditors
Amounts falling due within one year 6 491,322 734,189
Net current assets 1,527,140 1,406,936
Total assets less current liabilities 2,741,973 2,196,923

Creditors
Amounts falling due after more than one
year

7

(1,210,886

)

(848,015

)

Provisions for liabilities (243,586 ) (195,409 )
Net assets 1,287,501 1,153,499

Capital and reserves
Called up share capital 8 100 100
Retained earnings 1,287,401 1,153,399
Shareholders' funds 1,287,501 1,153,499

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Pipework Limited (Registered number: 06920032)

Balance Sheet - continued
30 November 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 Board of Directors and authorised for issue on 2 July 2025 and were signed on its behalf by:




Mr T M Vallely - Director



Mr G Vallely - Director


Pipework Limited (Registered number: 06920032)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. Statutory information

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Pipework Limited (Registered number: 06920032)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or 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.

3. Employees and directors

The average number of employees during the year was 9 (2023 - 10 ) .

4. Tangible fixed assets
Improvements
Freehold to Plant and
property property machinery
£    £    £   
Cost
At 1 December 2023 6,250 10,500 325,341
Additions 172,233 - 408,801
Disposals - - -
At 30 November 2024 178,483 10,500 734,142
Depreciation
At 1 December 2023 - 8,400 127,347
Charge for year - 2,100 151,699
Eliminated on disposal - - -
At 30 November 2024 - 10,500 279,046
Net book value
At 30 November 2024 178,483 - 455,096
At 30 November 2023 6,250 2,100 197,994

Pipework Limited (Registered number: 06920032)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. Tangible fixed assets - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 December 2023 - 932,429 37,927 1,312,447
Additions 9,061 233,776 6,679 830,550
Disposals - (121,603 ) - (121,603 )
At 30 November 2024 9,061 1,044,602 44,606 2,021,394
Depreciation
At 1 December 2023 - 365,639 21,074 522,460
Charge for year 2,265 191,917 5,939 353,920
Eliminated on disposal - (69,819 ) - (69,819 )
At 30 November 2024 2,265 487,737 27,013 806,561
Net book value
At 30 November 2024 6,796 556,865 17,593 1,214,833
At 30 November 2023 - 566,790 16,853 789,987

5. Debtors
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 568,485 970,621
Other debtors 778,466 451,649
1,346,951 1,422,270

Amounts falling due after more than one year:
Other debtors 222,967 131,135

Aggregate amounts 1,569,918 1,553,405

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 59,981 -
Trade creditors 333,667 531,248
Taxation and social security 96,304 204,501
Other creditors 1,370 (1,560 )
491,322 734,189

Pipework Limited (Registered number: 06920032)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 40,019 -
Hire purchase contracts 1,170,867 848,015
1,210,886 848,015

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
Mr G Vallely
Balance outstanding at start of year 673 (23,868 )
Amounts advanced 24,180 27,869
Amounts repaid (673 ) (3,328 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,180 673

10. Related party disclosures

G&T Developments Limited

Associated company


Loans to the value of £215,000 were made to G&T Developments during the year.

2024 2023
£    £   
Amount due from related party at the balance sheet date 215,000 -