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Registration number: SC422668

Water & Pipeline Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2025

 

Water & Pipeline Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

Accountants' Report

9

 

Water & Pipeline Services Ltd

Company Information

Director

Mr John Andrew Graham

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
Stirlingshire
FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Water & Pipeline Services Ltd

(Registration number: SC422668)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

2,790,605

2,438,058

Current assets

 

Stocks

5

218,088

161,467

Debtors

6

739,731

467,544

Cash at bank and in hand

 

1,461,904

1,506,046

 

2,419,723

2,135,057

Creditors: Amounts falling due within one year

7

(1,319,058)

(725,256)

Net current assets

 

1,100,665

1,409,801

Total assets less current liabilities

 

3,891,270

3,847,859

Creditors: Amounts falling due after more than one year

7

(484,707)

(552,002)

Provisions for liabilities

(690,319)

(521,207)

Net assets

 

2,716,244

2,774,650

Capital and reserves

 

Called up share capital

525

712

Capital redemption reserve

475

288

Retained earnings

2,715,244

2,773,650

Shareholders' funds

 

2,716,244

2,774,650

For the financial year ending 30 April 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 July 2025
 

.........................................
Mr John Andrew Graham
Director

 

Water & Pipeline Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These 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 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 and deferred 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.

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.

 

Water & Pipeline Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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

10% reducing balance

Fixtures and fittings

25% straight line

Motor vehicles

20% reducing balance

Computer equipment

33% straight line

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.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 37 (2024 - 33).

 

Water & Pipeline Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 May 2024

64,617

3,057,576

15,991

535,015

Additions

-

826,741

4,183

144,414

Disposals

-

(572,812)

-

(52,485)

At 30 April 2025

64,617

3,311,505

20,174

626,944

Depreciation

At 1 May 2024

64,616

855,112

12,656

302,757

Charge for the year

-

276,707

3,220

71,423

Eliminated on disposal

-

(310,674)

-

(43,182)

At 30 April 2025

64,616

821,145

15,876

330,998

Carrying amount

At 30 April 2025

1

2,490,360

4,298

295,946

At 30 April 2024

1

2,202,464

3,335

232,258

Total
£

Cost or valuation

At 1 May 2024

3,673,199

Additions

975,338

Disposals

(625,297)

At 30 April 2025

4,023,240

Depreciation

At 1 May 2024

1,235,141

Charge for the year

351,350

Eliminated on disposal

(353,856)

At 30 April 2025

1,232,635

Carrying amount

At 30 April 2025

2,790,605

At 30 April 2024

2,438,058

 

Water & Pipeline Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

5

Stocks

2025
£

2024
£

Work in progress

198,088

131,467

Other inventories

20,000

30,000

218,088

161,467

6

Debtors

Current

2025
£

2024
£

Trade debtors

739,731

467,543

Prepayments

-

1

 

739,731

467,544

 

Water & Pipeline Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

222,060

179,245

Trade creditors

 

481,980

227,522

Taxation and social security

 

254,950

115,678

Other creditors

 

360,068

202,811

 

1,319,058

725,256

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

484,707

552,002

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

484,707

552,002

Current loans and borrowings

2025
£

2024
£

Bank overdrafts

285

225

Hire purchase contracts

221,775

179,020

222,060

179,245

9

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

 

Water & Pipeline Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

2025
 £

2024
 £

Mr D R A Stocks

-

14,700

Mr J Graham

1,631

6,555

 

1,631

21,255

The maximum balance outstanding during the year amounted to £21,255.

The directors current accounts are repayable on demand.

Included within other creditors is an amount owed to a shareholder of £15,506 (2024: £Nil).

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Water & Pipeline Services Ltd
for the Year Ended 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Water & Pipeline Services Ltd for the year ended 30 April 2025 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Water & Pipeline Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Water & Pipeline Services Ltd and state those matters that we have agreed to state to the Board of Directors of Water & Pipeline Services Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Water & Pipeline Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Water & Pipeline Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Water & Pipeline Services Ltd. You consider that Water & Pipeline Services 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 accounts of Water & Pipeline Services 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 accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

29 July 2025