REGISTERED NUMBER: 05120066 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Pipes On Sight Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M D Walkley

M D J Walkley

SECRETARY:

M D J Walkley

REGISTERED OFFICE:

The Stable

The Grange Business Park

West Hewish

Weston Super Mare

Somerset

BS24 6RR

REGISTERED NUMBER:

05120066 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

BANKERS:

National Westminster Bank Plc

43 Oxford Street

Weston Super Mare

North Somerset

BS23 1TN

FIXED ASSETS

Property, plant and equipment

4

56,344

71,392

CURRENT ASSETS

Debtors

5

81,753

79,519

Cash at bank

22,298

21,581

104,051

101,100

CREDITORS

Amounts falling due within one year

6

97,147

88,136

NET CURRENT ASSETS

6,904

12,964

TOTAL ASSETS LESS CURRENT LIABILITIES

63,248

84,356

CREDITORS

Amounts falling due after more than one year

7

(12,665

)

(35,107

)

PROVISIONS FOR LIABILITIES

(13,719

)

(17,433

)

NET ASSETS

36,864

31,816

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

36,862

31,814

SHAREHOLDERS' FUNDS

36,864

31,816

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 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.

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 23 December 2025 and were signed on its behalf by:

M D J Walkley - Director

1.	STATUTORY INFORMATION

Pipes On Sight 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.

Turnover

Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year., except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. All transactions arose in the United Kingdom.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

2,607

67,560

122,515

192,682

Additions

-

3,725

-

3,725

At 31 March 2025

2,607

71,285

122,515

196,407

DEPRECIATION

At 1 April 2024

2,493

49,531

69,266

121,290

Charge for year

28

5,434

13,311

18,773

At 31 March 2025

2,521

54,965

82,577

140,063

NET BOOK VALUE

At 31 March 2025

86

16,320

39,938

56,344

At 31 March 2024

114

18,029

53,249

71,392

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

56,450

DEPRECIATION

At 1 April 2024

24,696

Charge for year

7,938

At 31 March 2025

32,634

NET BOOK VALUE

At 31 March 2025

23,816

At 31 March 2024

31,754

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

96,182

81,075

Bad debt provision

(15,283

)

(2,410

)

Prepayments

854

854

81,753

79,519

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

12,442

12,442

Trade creditors

1,163

943

Tax

20,245

16,433

Social security and other taxes

6,679

7,077

VAT

40,587

36,153

Pension creditor

2,956

1,438

Accrued expenses

3,075

3,650

97,147

88,136

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

3,333

13,333

Hire purchase contracts

9,332

21,774

12,665

35,107

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

13,333

23,333

Hire purchase contracts

21,774

34,216

35,107

57,549

Fixed and floating charge over the assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

10

Ordinary

1

2

2

10.

RESERVES

Retained

earnings

£

At 1 April 2024

31,814

Profit for the year

51,957

Dividends

(46,909

)

At 31 March 2025

36,862

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is M D Walkley.

13.	ULTIMATE PARENT COMPANY