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REGISTERED NUMBER: 11545157 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE PIPA TESTING SCHEME LIMITED
THE PIPA TESTING SCHEME LIMITED (REGISTERED NUMBER: 11545157)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE PIPA TESTING SCHEME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M John
C Keen
A George





REGISTERED OFFICE: 301 Tea Factory
St Peters Square
Fleet Street
Liverpool
L1 4DQ





REGISTERED NUMBER: 11545157 (England and Wales)





AUDITORS: Philip Barnes & Co Limited
Chartered Accountants
Statutory Auditors
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB
Page 1
THE PIPA TESTING SCHEME LIMITED (REGISTERED NUMBER: 11545157)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 88,998 72,518
Tangible assets 5 2,387 3,100
Investments 6 100 -
91,485 75,618

CURRENT ASSETS
Stocks 2,821 3,519
Debtors 7 11,035 17,202
Cash at bank 127,409 94,669
141,265 115,390
CREDITORS
Amounts falling due within one year 8 51,489 57,726
NET CURRENT ASSETS 89,776 57,664
TOTAL ASSETS LESS CURRENT
LIABILITIES
181,261
133,282

PROVISIONS FOR LIABILITIES 600 600
NET ASSETS 180,661 132,682

RESERVES
Capital Contribution Reserve 27,462 27,462
Income and expenditure account 153,199 105,220
180,661 132,682

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2025 and were signed on its behalf by:





M John - Director


The notes form part of these financial statements

Page 2
THE PIPA TESTING SCHEME LIMITED (REGISTERED NUMBER: 11545157)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

The PIPA Testing Scheme Limited is a private company, limited by guarantee , 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.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Preparation of consolidated financial statements
The financial statements contain information about The PIPA Testing Scheme Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

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 their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and 25% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost, and estimated selling price less costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Page 3 continued...
THE PIPA TESTING SCHEME LIMITED (REGISTERED NUMBER: 11545157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. EMPLOYEES

The average number of employees during the year was 2 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 77,698
Additions 37,670
At 31 December 2024 115,368
AMORTISATION
At 1 January 2024 5,180
Charge for year 21,190
At 31 December 2024 26,370
NET BOOK VALUE
At 31 December 2024 88,998
At 31 December 2023 72,518

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2024 3,966
Additions 325
At 31 December 2024 4,291
DEPRECIATION
At 1 January 2024 866
Charge for year 1,038
At 31 December 2024 1,904
NET BOOK VALUE
At 31 December 2024 2,387
At 31 December 2023 3,100

Page 4 continued...
THE PIPA TESTING SCHEME LIMITED (REGISTERED NUMBER: 11545157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 December 2024 100
NET BOOK VALUE
At 31 December 2024 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 339 11,470
Amounts owed by group undertakings 6,900 -
Other debtors 3,796 5,732
11,035 17,202

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,571 29,667
Taxation and social security 13,114 -
Other creditors 25,804 28,059
51,489 57,726

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Humphreys FCA (Senior Statutory Auditor)
for and on behalf of Philip Barnes & Co Limited

10. LIMITED BY GUARANTEE

The company is Limited by Guarantee. In the event of the company being wound up during the time that he is a member, or within one year afterwards, for payment of the debts and liabilities of the Association contracted before the time at which he ceases to be a member , every member undertakes to contribute an amount, not exceeding £1.

Page 5