IRIS Accounts Production v25.3.0.601 02004084 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02004084 2024-03-31 02004084 2025-03-31 02004084 2024-04-01 2025-03-31 02004084 2023-03-31 02004084 2023-04-01 2024-03-31 02004084 2024-03-31 02004084 ns15:EnglandWales 2024-04-01 2025-03-31 02004084 ns14:PoundSterling 2024-04-01 2025-03-31 02004084 ns10:Director1 2024-04-01 2025-03-31 02004084 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02004084 ns10:SmallEntities 2024-04-01 2025-03-31 02004084 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 02004084 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 02004084 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02004084 ns10:FullAccounts 2024-04-01 2025-03-31 02004084 1 2024-04-01 2025-03-31 02004084 ns10:Director2 2024-04-01 2025-03-31 02004084 ns10:Director3 2024-04-01 2025-03-31 02004084 ns10:RegisteredOffice 2024-04-01 2025-03-31 02004084 ns5:CurrentFinancialInstruments 2025-03-31 02004084 ns5:CurrentFinancialInstruments 2024-03-31 02004084 ns5:ShareCapital 2025-03-31 02004084 ns5:ShareCapital 2024-03-31 02004084 ns5:RevaluationReserve 2025-03-31 02004084 ns5:RevaluationReserve 2024-03-31 02004084 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 02004084 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 02004084 ns5:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 02004084 ns5:ComputerSoftware 2024-03-31 02004084 ns5:ComputerSoftware 2024-04-01 2025-03-31 02004084 ns5:ComputerSoftware 2025-03-31 02004084 ns5:ComputerSoftware 2024-03-31 02004084 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-03-31 02004084 ns5:LeaseholdImprovements 2024-03-31 02004084 ns5:PlantMachinery 2024-03-31 02004084 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-04-01 2025-03-31 02004084 ns5:LeaseholdImprovements 2024-04-01 2025-03-31 02004084 ns5:PlantMachinery 2024-04-01 2025-03-31 02004084 ns5:ShortLeaseholdAssets ns5:LandBuildings 2025-03-31 02004084 ns5:LeaseholdImprovements 2025-03-31 02004084 ns5:PlantMachinery 2025-03-31 02004084 ns5:ShortLeaseholdAssets ns5:LandBuildings 2024-03-31 02004084 ns5:LeaseholdImprovements 2024-03-31 02004084 ns5:PlantMachinery 2024-03-31 02004084 ns5:FurnitureFittings 2024-03-31 02004084 ns5:MotorVehicles 2024-03-31 02004084 ns5:ComputerEquipment 2024-03-31 02004084 ns5:FurnitureFittings 2024-04-01 2025-03-31 02004084 ns5:MotorVehicles 2024-04-01 2025-03-31 02004084 ns5:ComputerEquipment 2024-04-01 2025-03-31 02004084 ns5:FurnitureFittings 2025-03-31 02004084 ns5:MotorVehicles 2025-03-31 02004084 ns5:ComputerEquipment 2025-03-31 02004084 ns5:FurnitureFittings 2024-03-31 02004084 ns5:MotorVehicles 2024-03-31 02004084 ns5:ComputerEquipment 2024-03-31 02004084 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 02004084 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 02004084 ns10:Director1 1 2024-03-31 02004084 ns10:Director1 1 2023-03-31 02004084 ns10:Director1 1 2024-04-01 2025-03-31 02004084 ns10:Director1 1 2023-04-01 2024-03-31 02004084 ns10:Director1 1 2025-03-31 02004084 ns10:Director1 1 2024-03-31

REGISTERED NUMBER: 02004084 (England and Wales)

Specialised Pipe & Services Limited

Unaudited Financial Statements for the Year Ended 31st March 2025

Specialised Pipe & Services Limited (Registered number: 02004084)

Contents of the Financial Statements

for the year ended 31st March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Specialised Pipe & Services Limited

Company Information

for the year ended 31st March 2025

| DIRECTORS: | Mr M W Hansley

| Mr R J Hansley

| Mr S Foster

| REGISTERED OFFICE: | Unit 6

| Burma Drive

| Marfleet Industrial Estate

| Hull

| East Yorkshire

| HU9 5SD

| REGISTERED NUMBER: | 02004084 (England and Wales)

| ACCOUNTANTS: | Smailes Goldie

| Chartered Accountants

| Regent's Court

| Princess Street

| Hull

| East Yorkshire HU2 8BA

Specialised Pipe & Services Limited (Registered number: 02004084)

Balance Sheet

31st March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 10,806 |  | 3,457 |  |

Tangible assets | 5 | 269,288 |  | 283,892 |  |

280,094 |  | 287,349 |  |

CURRENT ASSETS

Stocks | 228,043 |  | 203,718 |  |

Debtors | 6 | 283,641 |  | 264,631 |  |

Cash at bank and in hand | 653,930 |  | 636,303 |  |

1,165,614 |  | 1,104,652 |  |

CREDITORS

Amounts falling due within one year | 7 | 314,693 |  | 296,345 |  |

NET CURRENT ASSETS | 850,921 |  | 808,307 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,131,015 |  | 1,095,656 |  |

PROVISIONS FOR LIABILITIES | 4,041 |  | 6,099 |  |

NET ASSETS | 1,126,974 |  | 1,089,557 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Revaluation reserve | 26,629 |  | 27,278 |  |

Retained earnings | 1,099,345 |  | 1,061,279 |  |

SHAREHOLDERS' FUNDS | 1,126,974 |  | 1,089,557 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Specialised Pipe & Services Limited (Registered number: 02004084)

Balance Sheet - continued

31st March 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th October 2025 and were signed on its behalf by:

Mr R J Hansley - Director

Specialised Pipe & Services Limited (Registered number: 02004084)

Notes to the Financial Statements

for the year ended 31st March 2025

1. | STATUTORY INFORMATION

| Specialised Pipe & Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover from the sale of specialist hydraulic and instrumental equipment is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

| Interest and other income

| Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Website costs are being amortised evenly over its estimated useful life of three years.

| Tangible fixed assets

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

| Leasehold property |  | - 2% on cost |  |

| Office equipment |  | - 15% on cost |  |

| Plant and machinery |  | - 15% on cost |  |

| Fixtures and fittings |  | - 15% on cost |  |

| Motor vehicles |  | - 25% on cost |  |

| Computer equipment |  | - 33% on cost |  |

| Stocks

| Stock and work in progress is stated at the lower of cost and net realisable value.

| In the case of raw materials and consumable stores cost means purchase price including transport and handling costs, less trade discounts calculated on a first in first out basis. In the case of work in progress and finished goods, cost consists of direct materials, direct labour and attributable overheads based on normal levels of activity.

| Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution.

Specialised Pipe & Services Limited (Registered number: 02004084)

Notes to the Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and other post-retirement benefits

| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 9 (2024 - 9 ) .

Specialised Pipe & Services Limited (Registered number: 02004084)

Notes to the Financial Statements - continued

for the year ended 31st March 2025

4. | INTANGIBLE FIXED ASSETS

| Website

£ |

| COST

| At 1st April 2024 | 11,750 |  |

| Additions | 10,306 |  |

| At 31st March 2025 | 22,056 |  |

| AMORTISATION

| At 1st April 2024 | 8,293 |  |

| Amortisation for year | 2,957 |  |

| At 31st March 2025 | 11,250 |  |

| NET BOOK VALUE

| At 31st March 2025 | 10,806 |  |

| At 31st March 2024 | 3,457 |  |

5. | TANGIBLE FIXED ASSETS

| Leasehold |  | Office |  | Plant and

| property |  | equipment |  | machinery

£ | £ | £ |

| COST OR VALUATION

| At 1st April 2024

| and 31st March 2025 | 300,000 |  | 7,074 |  | 43,046 |  |

| DEPRECIATION

| At 1st April 2024 | 48,000 |  | 5,950 |  | 39,733 |  |

| Charge for year | 6,000 |  | 267 |  | 630 |  |

| At 31st March 2025 | 54,000 |  | 6,217 |  | 40,363 |  |

| NET BOOK VALUE

| At 31st March 2025 | 246,000 |  | 857 |  | 2,683 |  |

| At 31st March 2024 | 252,000 |  | 1,124 |  | 3,313 |  |

Specialised Pipe & Services Limited (Registered number: 02004084)

Notes to the Financial Statements - continued

for the year ended 31st March 2025

5. | TANGIBLE FIXED ASSETS - continued

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1st April 2024

| and 31st March 2025 | 14,288 |  | 41,578 |  | 18,172 |  | 424,158 |  |

| DEPRECIATION

| At 1st April 2024 | 13,704 |  | 14,707 |  | 18,172 |  | 140,266 |  |

| Charge for year | 208 |  | 7,499 |  | - |  | 14,604 |  |

| At 31st March 2025 | 13,912 |  | 22,206 |  | 18,172 |  | 154,870 |  |

| NET BOOK VALUE

| At 31st March 2025 | 376 |  | 19,372 |  | - |  | 269,288 |  |

| At 31st March 2024 | 584 |  | 26,871 |  | - |  | 283,892 |  |

| Cost or valuation at 31st March 2025 is represented by:

| Leasehold |  | Office |  | Plant and

| property |  | equipment |  | machinery

£ | £ | £ |

| Valuation in 2015 | 300,000 |  | - |  | - |  |

| Cost | - |  | 7,074 |  | 43,046 |  |

300,000 |  | 7,074 |  | 43,046 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| Valuation in 2015 | - |  | - |  | - |  | 300,000 |  |

| Cost | 14,288 |  | 41,578 |  | 18,172 |  | 124,158 |  |

14,288 |  | 41,578 |  | 18,172 |  | 424,158 |  |

| If Leasehold property had not been revalued 2015 would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 267,530 |  | 267,530 |  |

| Aggregate depreciation | 48,155 |  | 42,805 |  |

Specialised Pipe & Services Limited (Registered number: 02004084)

Notes to the Financial Statements - continued

for the year ended 31st March 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 278,166 |  | 241,860 |  |

| Other debtors | 5,475 |  | 22,771 |  |

283,641 |  | 264,631 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 235,455 |  | 210,417 |  |

| Taxation and social security | 66,887 |  | 76,362 |  |

| Other creditors | 12,351 |  | 9,566 |  |

314,693 |  | 296,345 |  |

8. | FINANCIAL COMMITMENTS

| Total financial commitments, guarantees and contingencies which are not included in the balance amount to £8,766 (2024 - £15,340).

9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31st March 2025 and 31st March 2024:

2025 | 2024 |

£ | £ |

| Mr R J Hansley

| Balance outstanding at start of year | 19,030 |  | - |  |

| Amounts advanced | 1,685 |  | 64,210 |  |

| Amounts repaid | (19,030 | ) | (45,180 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 1,685 |  | 19,030 |  |

10. | ULTIMATE CONTROLLING PARTY

| The company's parent company is Specialised Pipe and Services (Holdings) Limited, their registered office and principle place of business is Unit 6, Burma Drive, Marfleet Industrial Estate, Hull.