Pipecraft Limited NI683715 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is Plumbing, heat and air-conditioning installation Digita Accounts Production Advanced 6.30.9574.0 true NI683715 2023-12-01 2024-11-30 NI683715 2024-11-30 NI683715 bus:OrdinaryShareClass1 2024-11-30 NI683715 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-11-30 NI683715 core:CurrentFinancialInstruments 2024-11-30 NI683715 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 NI683715 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 NI683715 core:LandBuildings 2024-11-30 NI683715 core:MotorVehicles 2024-11-30 NI683715 core:OtherPropertyPlantEquipment 2024-11-30 NI683715 bus:SmallEntities 2023-12-01 2024-11-30 NI683715 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 NI683715 bus:FilletedAccounts 2023-12-01 2024-11-30 NI683715 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 NI683715 bus:RegisteredOffice 2023-12-01 2024-11-30 NI683715 bus:Director1 2023-12-01 2024-11-30 NI683715 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 NI683715 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 NI683715 core:LandBuildings 2023-12-01 2024-11-30 NI683715 core:MotorVehicles 2023-12-01 2024-11-30 NI683715 core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 NI683715 core:PlantMachinery 2023-12-01 2024-11-30 NI683715 core:Vehicles 2023-12-01 2024-11-30 NI683715 countries:NorthernIreland 2023-12-01 2024-11-30 NI683715 2023-11-30 NI683715 core:LandBuildings 2023-11-30 NI683715 core:MotorVehicles 2023-11-30 NI683715 core:OtherPropertyPlantEquipment 2023-11-30 NI683715 2022-12-01 2023-11-30 NI683715 2023-11-30 NI683715 bus:OrdinaryShareClass1 2023-11-30 NI683715 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-11-30 NI683715 core:CurrentFinancialInstruments 2023-11-30 NI683715 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 NI683715 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 NI683715 core:LandBuildings 2023-11-30 NI683715 core:MotorVehicles 2023-11-30 NI683715 core:OtherPropertyPlantEquipment 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI683715

Pipecraft Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Pipecraft Limited

(Registration number: NI683715)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

27,491

36,263

Current assets

 

Stocks

5

6,000

13,978

Debtors

6

13,754

9,833

Cash at bank and in hand

 

8,268

7,180

 

28,022

30,991

Creditors: Amounts falling due within one year

7

(63,111)

(60,446)

Net current liabilities

 

(35,089)

(29,455)

Total assets less current liabilities

 

(7,598)

6,808

Creditors: Amounts falling due after more than one year

7

(1,151)

(5,617)

Net (liabilities)/assets

 

(8,749)

1,191

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(8,750)

1,190

Shareholders' (deficit)/funds

 

(8,749)

1,191

For the financial year ending 30 November 2024 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Pipecraft Limited

(Registration number: NI683715)
Balance Sheet as at 30 November 2024

Approved and authorised by the director on 28 August 2025
 

.........................................
Mr Michael Bell
Director

 

Pipecraft Limited

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

1

General information

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

The address of its registered office is: 15 Gallagh Road, Toomebridge, Co Antrim, BT41 3QS.

These financial statements were authorised for issue by the director on 28 August 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 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.

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

25% reducing balance basis

Motor vehicles

25% reducing balance basis

 

Pipecraft Limited

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

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Pipecraft Limited

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

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 1 (2023 - 1).

4

Tangible assets

Office
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

-

22,250

13,563

35,813

Additions

15,954

-

-

15,954

Disposals

-

-

(8,750)

(8,750)

At 30 November 2024

15,954

22,250

4,813

43,017

Depreciation

At 1 December 2023

-

9,735

5,769

15,504

Charge for the year

-

3,129

722

3,851

Eliminated on disposal

-

-

(3,829)

(3,829)

At 30 November 2024

-

12,864

2,662

15,526

Carrying amount

At 30 November 2024

15,954

9,386

2,151

27,491

At 30 November 2023

15,954

12,515

7,794

36,263

 

Pipecraft Limited

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

5

Stocks

2024
£

2023
£

Work in progress

-

4,978

Other inventories

6,000

9,000

6,000

13,978

6

Debtors

Current

2024
£

2023
£

Trade debtors

13,754

9,833

 

13,754

9,833

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,828

4,254

Trade creditors

 

1,734

3,910

Taxation and social security

 

2,091

1,007

Accruals and deferred income

 

6,400

6,400

Other creditors

 

48,058

44,875

 

63,111

60,446

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       
 

Pipecraft Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

1,151

5,617

Current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

4,828

4,254

10

Related party transactions

2024
 £

2023
 £

Directors current account

(48,058)

(44,875)