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Registration number: 10015617

Pipe Services Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2025

 

Pipe Services Limited

Contents

Company Information

1

Director's Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Pipe Services Limited

Company Information

Director

Mr Daniel Willison

Registered office

Unit 13
Belvedere Industrial Estate
Belvedere
Kent
DA17 6BS

Accountants

TAX LINK (CTA) LIMITED
Chartered Accountants & Tax AdvisorsThe Long Lodge 265-269 Kingston Road
Wimbledon
London
Wimbledon
SW19 3NW

 

Pipe Services Limited

Director's Report for the Year Ended 31 March 2025

The director presents his report and the abridged financial statements for the year ended 31 March 2025.

Director of the company

The director who held office during the year was as follows:

Mr Daniel Willison

Principal activity

The principal activity of the company is industrial pipework fitting.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 July 2025
 

.........................................
Mr Daniel Willison
Director

 

Pipe Services Limited

(Registration number: 10015617)
Abridged Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

2,370

5,155

Current assets

 

Stocks

6

-

57,739

Debtors

8,737,303

7,966,698

Cash at bank and in hand

 

1,078,158

1,599,124

 

9,815,461

9,623,561

Prepayments and accrued income

 

20,580

30,580

Creditors: Amounts falling due within one year

(303,763)

(582,076)

Net current assets

 

9,532,278

9,072,065

Total assets less current liabilities

 

9,534,648

9,077,220

Accruals and deferred income

 

(8,250)

(8,250)

Net assets

 

9,526,398

9,068,970

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

9,526,397

9,068,969

Shareholders' funds

 

9,526,398

9,068,970

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Approved and authorised by the director on 24 July 2025
 

 

Pipe Services Limited

(Registration number: 10015617)
Abridged Balance Sheet as at 31 March 2025

.........................................
Mr Daniel Willison
Director

 

Pipe Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 13
Belvedere Industrial Estate
Belvedere
Kent
DA17 6BS
England

These financial statements were authorised for issue by the director on 24 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Pipe Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straight-line over 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Pipe Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

2,785

2,785

 

Pipe Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

76,160

50,950

127,110

At 31 March 2025

76,160

50,950

127,110

Depreciation

At 1 April 2024

71,005

50,950

121,955

Charge for the year

2,785

-

2,785

At 31 March 2025

73,790

50,950

124,740

Carrying amount

At 31 March 2025

2,370

-

2,370

At 31 March 2024

5,155

-

5,155

6

Stocks

2025
£

2024
£

Work in progress

-

57,739

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

1

1

1

1