REGISTERED NUMBER: 07206060 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PIPES & TUBES (2010) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr K J Wilkes

REGISTERED OFFICE:

The Tower

Daltongate Business Centre

Daltongate

Ulverston

Cumbria

LA12 7AJ

BUSINESS ADDRESS:

North Lonsdale Road

Ulverston

Cumbria

LA12 9EB

REGISTERED NUMBER:

07206060 (England and Wales)

BANKERS:

HSBC Bank plc

104 Duke Street

Barrow in Furness

Cumbria

LA14 1LR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

356,125

118,042

356,125

118,042

CURRENT ASSETS

Stocks

1,209,243

578,695

Debtors

2,107,297

1,172,089

Cash at bank and in hand

1,191,902

1,344,210

4,508,442

3,094,994

CREDITORS

Amounts falling due within one year

3,119,157

2,127,544

NET CURRENT ASSETS

1,389,285

967,450

TOTAL ASSETS LESS CURRENT LIABILITIES

1,745,410

1,085,492

CREDITORS

Amounts falling due after more than one year

(447,878

)

(120,993

)

PROVISIONS FOR LIABILITIES

-

(29,511

)

NET ASSETS

1,297,532

934,988

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

1,297,531

934,987

SHAREHOLDERS' FUNDS

1,297,532

934,988

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

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

The director acknowledges his 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 8 December 2025 and were signed by:

Mr K J Wilkes - Director

1.	STATUTORY INFORMATION

Pipes & Tubes (2010) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents net invoiced sales of goods and services as adjusted for deferred income, excluding VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, has been fully amortised over its 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

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Government grants

Grants received are credited to profit and loss account in the financial period in which they are received.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Fixed asset investments

Investments held as fixed assets are stated at cost, together with subsequent capital contributions, less any provisions for impairment in value.

Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the fixed asset investment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2024 - 47 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

401,353

AMORTISATION

At 1 April 2024

and 31 March 2025

401,353

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

On 28th August 2010 the company purchased the whole of the issued share capital of Pipes and Tubes Limited a company incorporated in England and Wales. Under a hive up agreement of even date the business, contracts, assets and liabilities of Pipes and Tubes Limited were transferred to the company.

On 22nd October 2010 the company purchased the business Bay Painting.

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

898,140

Additions

338,599

At 31 March 2025

1,236,739

DEPRECIATION

At 1 April 2024

780,098

Charge for year

100,516

At 31 March 2025

880,614

NET BOOK VALUE

At 31 March 2025

356,125

At 31 March 2024

118,042

The net book value of tangible fixed assets includes £3 (2024 : £3) in respect of assets held under hire purchase agreements. The amount of depreciation in respect of such assets amounted to £nil (2024 : £12,432) for the financial year.

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

9,487

20,108

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Ordinary

£1

1

1

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Timec 1795 Limited.