K & S Pipe Contractors LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC305374

K & S PIPE CONTRACTORS LLP

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

K & S PIPE CONTRACTORS LLP

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents	Page

Designated members and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

K & S PIPE CONTRACTORS LLP

DESIGNATED MEMBERS AND PROFESSIONAL ADVISERS

Designated members	K. L. Snell
	S. J. Maddocks
	Mrs D. A. Snell
	Mrs G. L. Maddocks
	D. P. Snell

Registered office	Unit 1
	Stock Road
	Southend on Sea
	Essex
	SS2 5QF

Accountants	Wilkins Southworth
	Chartered Certified Accountants
	10-12 High Street
	Barnes
	London
	SW13 9LW

K & S PIPE CONTRACTORS LLP

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Tangible assets	5		645,310	581,407

CURRENT ASSETS

Debtors	6	2,029,891	1,827,044
Cash at bank and in hand		1,460,957	1,894,306
		-------------	-------------
		3,490,848	3,721,350

CREDITORS: amounts falling due within one year	7	( 1,120,898)		( 1,542,776)
		-------------		-------------
NET CURRENT ASSETS			2,369,950	2,178,574
			-------------	-------------
TOTAL ASSETS LESS CURRENT LIABILITIES			3,015,260	2,759,981
			-------------	-------------
NET ASSETS			3,015,260	2,759,981
			-------------	-------------

REPRESENTED BY:

LOANS AND OTHER DEBTS DUE TO MEMBERS

Other amounts	8		2,312,760	2,079,481

MEMBERS' OTHER INTERESTS

Members' capital classified as equity	702,500	680,500
Other reserves	–	–
	-------------	-------------
	3,015,260	2,759,981
	-------------	-------------

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members	8	2,312,760	2,079,481
Members' other interests		702,500	680,500
		-------------	-------------
		3,015,260	2,759,981
		-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

K & S PIPE CONTRACTORS LLP

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 5 September 2025 , and are signed on their behalf by:

K. L. Snell	D. P. Snell
Designated Member	Designated Member

Registered number: OC305374

K & S PIPE CONTRACTORS LLP

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Unit 1, Stock Road, Southend on Sea, Essex, SS2 5QF.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	Over the term of the lease
Plant & Machinery	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 30 (2024: 38 ).

5.	Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	392,330	157,274	542,941	79,910	1,172,455
Additions	–	19,780	157,550	2,195	179,525
Disposals	–	–	( 39,000)	–	( 39,000)
	----------	----------	----------	---------	-------------
At 31 March 2025	392,330	177,054	661,491	82,105	1,312,980
	----------	----------	----------	---------	-------------
Depreciation
At 1 April 2024	76,416	126,389	325,267	62,976	591,048
Charge for the year	7,752	12,667	87,493	4,782	112,694
Disposals	–	–	( 36,072)	–	( 36,072)
	----------	----------	----------	---------	-------------
At 31 March 2025	84,168	139,056	376,688	67,758	667,670
	----------	----------	----------	---------	-------------
Carrying amount
At 31 March 2025	308,162	37,998	284,803	14,347	645,310
	----------	----------	----------	---------	-------------
At 31 March 2024	315,914	30,885	217,674	16,934	581,407
	----------	----------	----------	---------	-------------

6.	Debtors

	2025	2024
	£	£
Trade debtors	1,685,771	1,327,645
Other debtors	344,120	499,399
	-------------	-------------
	2,029,891	1,827,044
	-------------	-------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	526,923	559,234
Social security and other taxes	288,964	797,225
Other creditors	305,011	186,317
	-------------	-------------
	1,120,898	1,542,776
	-------------	-------------

8.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	2,312,760	2,079,481
	-------------	-------------

9.	Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Later than 5 years	617,400	633,000
	----------	----------

10.	Related party transactions

In the opinion of the members there is no controlling party.