R2 Pipe Tech Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11207028

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		14,129		19,032

			14,129		19,032
CURRENT ASSETS
Stocks		1,518		2,690
Debtors	5	26,742		37,696
Cash at bank and in hand		3,346		3,033

		31,606		43,419
Creditors: Amounts Falling Due Within One Year	6	(86,715 )		(85,364 )

NET CURRENT ASSETS (LIABILITIES)			(55,109 )		(41,945 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(40,980 )		(22,913 )

Creditors: Amounts Falling Due After More Than One Year	7		(25,985 )		(34,633 )

NET LIABILITIES			(66,965 )		(57,546 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(67,065 )		(57,646 )

SHAREHOLDERS' FUNDS			(66,965)		(57,546)

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R2 Pipe Tech Limited

Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Richard Joyce

Director

12/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

R2 Pipe Tech Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11207028 . The registered office is DEB House, 19 Middlewoods Way, Wharncliffe Business park, Carlton, Barnsley, S71 3HR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The company is dependent on the continued support from a director in the form of a director loan. The director has indicated that he does not intend to request repayment until the company has the available funds to do so. Accordingly the directors believe that the going concern basis is appropriate.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance method
Motor Vehicles	25% reducing balance method
Computer Equipment	25% reducing balance method

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 3)

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R2 Pipe Tech Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 March 2024	44,941	12,037	930	57,908
Additions	1,575	-	-	1,575
Disposals	(9,945 )	-	-	(9,945 )

As at 28 February 2025	36,571	12,037	930	49,538

Depreciation
As at 1 March 2024	35,114	3,009	753	38,876
Provided during the period	2,850	2,257	44	5,151
Disposals	(8,618 )	-	-	(8,618 )

As at 28 February 2025	29,346	5,266	797	35,409

Net Book Value
As at 28 February 2025	7,225	6,771	133	14,129

As at 1 March 2024	9,827	9,028	177	19,032

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	10,205
Prepayments and accrued income	3,535	4,284
Amounts owed by associates	23,207	23,207

	26,742	37,696

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,748	4,997
Trade creditors	-	2,909
Bank loans and overdrafts	5,391	5,882
PAYE	948	3,136
VAT creditor	16,300	7,578
Wages creditor	-	474
Pension creditor	-	178
Accruals and deferred income	328	210
Directors' loan accounts	60,000	60,000

	86,715	85,364

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R2 Pipe Tech Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	3,748
Bank loan 1 to 5 year	25,985	30,885

	25,985	34,633

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,748	4,997
Later than one year and not later than five years	-	3,748

	3,748	8,745

	3,748	8,745

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Related Party Transactions

The company is controlled by Mr R Joyce and Mr D Joyce, directors and shareholders of the company.

During the year £16,926 (2024 - £42,540) was paid to R Joyce in respect of consultancy fees.

The balance on the directors' loan account of Mr D Joyce was £60,000 due from the company (2024 - £60,000).

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