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Registered number: 07294420
David J Pipes Groundworks Limited
Unaudited Financial Statements
For The Year Ended 30 June 2025
Smith & Co Accountants Limited
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 07294420
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 50,000 50,000
Tangible Assets 5 217,456 215,406
267,456 265,406
CURRENT ASSETS
Debtors 6 89,705 57,992
Cash at bank and in hand - 743
89,705 58,735
Creditors: Amounts Falling Due Within One Year 7 (28,323 ) (58,017 )
NET CURRENT ASSETS (LIABILITIES) 61,382 718
TOTAL ASSETS LESS CURRENT LIABILITIES 328,838 266,124
Creditors: Amounts Falling Due After More Than One Year 8 (154,158 ) (115,815 )
NET ASSETS 174,680 150,309
CAPITAL AND RESERVES
Called up share capital 10 10 10
Income Statement 174,670 150,299
SHAREHOLDERS' FUNDS 174,680 150,309
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For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Income Statement.
On behalf of the board
Mr David Pipes
Director
19/09/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
David J Pipes Groundworks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07294420 . The registered office is Green Acres Lowery Lane, Stanley, Co. Durham, DH9 6EN.
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. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the income statement over its estimated economic life of .... years.
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 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
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 income statement 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 income statement as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 11)
10 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2024 50,000
As at 30 June 2025 50,000
Net Book Value
As at 30 June 2025 50,000
As at 1 July 2024 50,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2024 236,031 101,459 3,752 333 341,575
Additions 44,700 - - - 44,700
As at 30 June 2025 280,731 101,459 3,752 333 386,275
Depreciation
As at 1 July 2024 92,490 30,374 3,185 120 126,169
Provided during the period 24,684 17,771 142 53 42,650
As at 30 June 2025 117,174 48,145 3,327 173 168,819
Net Book Value
As at 30 June 2025 163,557 53,314 425 160 217,456
As at 1 July 2024 143,541 71,085 567 213 215,406
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 7,288 5,156
Retentions 14,458 29,071
CIS Control 63,852 14,371
VAT 4,107 9,394
89,705 57,992
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 49,354
Trade creditors 3,746 2,182
Bank loans and overdrafts 10,829 2,995
Corporation tax 11,036 1,407
Pension Control 373 185
Accruals and deferred income 1,715 1,695
Director's loan account 624 199
28,323 58,017
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 149,158 115,815
Barclayloan 5,000 -
154,158 115,815
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 49,354
Later than one year and not later than five years 149,158 115,815
149,158 165,169
149,158 165,169
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
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