South West Pipeworks Limited - Filleted accounts

Registered number

09034186

South West Pipeworks Limited

Filleted Accounts

31 March 2025

South West Pipeworks Limited
Registered number:		09034186
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		-			1,000
Tangible assets	4		10,115			13,102
			10,115			14,102

Current assets
Debtors	5	17,145			2,608
Cash at bank and in hand		13,117			22,524
		30,262			25,132

Creditors: amounts falling due within one year	6	(35,678)			(29,038)

Net current liabilities			(5,416)			(3,906)

Total assets less current liabilities			4,699			10,196

Creditors: amounts falling due after more than one year	7		-			(7,935)

Provisions for liabilities			(1,922)			(2,474)


Net assets/(liabilities)			2,777			(213)

Capital and reserves
Called up share capital			100			100
Profit and loss account			2,677			(313)

Shareholders' funds			2,777			(213)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




James Douglas Keir
Director
Approved by the board on 23 December 2025

South West Pipeworks Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% reducing balance
	Fixtures, fittings, tools and equipment	25% reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			2		1


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 April 2024					10,000
	At 31 March 2025					10,000

	Amortisation
	At 1 April 2024					9,000
	Provided during the year					1,000
	At 31 March 2025					10,000

	Net book value
	At 31 March 2025					-
	At 31 March 2024					1,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2024	18,086		2,250		20,336
	Additions	515		-		515
	Disposals	-		(2,250)		(2,250)
	At 31 March 2025	18,601		-		18,601

	Depreciation
	At 1 April 2024	5,154		2,080		7,234
	Charge for the year	3,332		-		3,332
	On disposals	-		(2,080)		(2,080)
	At 31 March 2025	8,486		-		8,486

	Net book value
	At 31 March 2025	10,115		-		10,115
	At 31 March 2024	12,932		170		13,102


5	Debtors			2025		2024
£					£

	Trade debtors			13,708		1,986
	Other debtors			3,437		622
				17,145		2,608


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			14,833		6,800
	Trade creditors			-		6,017
	Taxation and social security costs			19,172		15,057
	Other creditors			1,673		1,164
				35,678		29,038


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			-		7,935


8	Related party transactions

	At the period end, the company owed £322 (2024: £165) to James Douglas Keir, Director. The loan is interest free and repayable on demand. At the period end, the company was owed £1,060 (2024: £622) by Tintang Limited, also owned by James Douglas Keir, director. The loan is interest free and repayable on demand. At the period end, the company was owed £2,377 by Cortenmetals Limited, also owned by James Douglas Keir, director. The loan is interest free and repayable on demand.


9	Controlling party

	The company is ultimately controlled by Mr James Douglas Keir, director, who owns 100% of the issued share capital.


10	Other information

	South West Pipeworks Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 5 Empire Way
	Tregoniggie Industrial Estate
	Falmouth
	Cornwall
	TR11 4SN