Registration number: 05339332

KMS Pipe Fitting & Fabrication Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

KMS Pipe Fitting & Fabrication Limited

(Registration number: 05339332)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	108,035	98,293
Current assets
Stocks		4,250	4,250
Debtors	5	132,304	220,526
Cash at bank and in hand		66,621	46,865
		203,175	271,641
Creditors: Amounts falling due within one year	6	(182,046)	(211,617)
Net current assets		21,129	60,024
Total assets less current liabilities		129,164	158,317
Creditors: Amounts falling due after more than one year	6	(57,150)	(55,133)
Provisions for liabilities		(27,009)	(24,573)
Net assets		45,005	78,611
Capital and reserves
Called up share capital		100	100
Retained earnings		44,905	78,511
Shareholders' funds		45,005	78,611

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

KMS Pipe Fitting & Fabrication Limited

(Registration number: 05339332)
Balance Sheet as at 31 January 2025

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2025 and signed on its behalf by:
 

......................................... Mr K Stockton Director

KMS Pipe Fitting & Fabrication Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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.

KMS Pipe Fitting & Fabrication Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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
Improvements to property	straight line over 50 years
Computer equipment	25% reducing balance
Motor vehicles	25% reducing balance
Plant and machinery	20% reducing balance

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.

KMS Pipe Fitting & Fabrication Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 7).

KMS Pipe Fitting & Fabrication Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

4	Tangible assets

	Improvements to property £	Computer equipment  £	Motor vehicles  £	Plant and machinery  £
Cost or valuation
At 1 February 2024	18,592	1,694	24,220	123,819
Additions	-	-	27,385	-
At 31 January 2025	18,592	1,694	51,605	123,819
Depreciation
At 1 February 2024	4,499	1,539	15,719	48,275
Charge for the year	372	38	2,125	15,108
At 31 January 2025	4,871	1,577	17,844	63,383
Carrying amount
At 31 January 2025	13,721	117	33,761	60,436
At 31 January 2024	14,093	155	8,501	75,544

	Total £
Cost or valuation
At 1 February 2024	168,325
Additions	27,385
At 31 January 2025	195,710
Depreciation
At 1 February 2024	70,032
Charge for the year	17,643
At 31 January 2025	87,675
Carrying amount
At 31 January 2025	108,035
At 31 January 2024	98,293

KMS Pipe Fitting & Fabrication Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

5

Debtors

Current	2025 £	2024 £
Trade debtors	129,177	216,226
Prepayments	3,127	4,300
	132,304	220,526

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Loans and borrowings	31,872	38,154
Trade creditors	73,317	62,619
Taxation and social security	63,986	101,950
Other creditors	12,871	8,894
	182,046	211,617

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,000	10,000
HP and finance lease liabilities	21,872	28,154
	31,872	38,154

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Loans and borrowings	57,150	55,133

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	3,333	13,333
HP and finance lease liabilities	53,817	41,800
	57,150	55,133