REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

BRAY'S PIPELINES LIMITED

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTOR:

N C Bray

SECRETARY:

Mrs J B Bray

REGISTERED OFFICE:

Unit 10 Maun Close

Mansfield

Nottinghamshire

NG18 5GY

REGISTERED NUMBER:

05745033 (England and Wales)

ACCOUNTANTS:

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

The director presents his report with the financial statements of the company for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the installation and repair of underground clean water pipes for both private and commercial customers.

DIRECTORS

N C Bray has held office during the whole of the period from 1 July 2024 to the date of this report.

Other changes in directors holding office are as follows:

Mrs J B Bray - resigned 5 April 2025

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

N C Bray - Director

12 January 2026

FIXED ASSETS

Intangible assets

5

29,408

58,820

Tangible assets

6

1,628,617

1,095,541

1,658,025

1,154,361

CURRENT ASSETS

Stocks

42,500

10,000

Debtors

7

1,547,797

1,495,522

Cash at bank and in hand

1,024,547

1,003,320

2,614,844

2,508,842

CREDITORS

Amounts falling due within one year

8

757,740

640,814

NET CURRENT ASSETS

1,857,104

1,868,028

TOTAL ASSETS LESS CURRENT LIABILITIES

3,515,129

3,022,389

CREDITORS

Amounts falling due after more than one year

9

(819,702

)

(348,522

)

PROVISIONS FOR LIABILITIES

(389,663

)

(260,689

)

NET ASSETS

2,305,764

2,413,178

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,305,762

2,413,176

SHAREHOLDERS' FUNDS

2,305,764

2,413,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 January 2026 and were signed by:

N C Bray - Director

1.	STATUTORY INFORMATION

Bray's Pipelines 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill represents the amount paid in connection with the acquisition of the business in 2006 less amortisation to date. The company has estimated that the goodwill will have an effective life of 20 years from the date of acquisition. Depreciation was not previously provided, for the first 3 years, as the directors felt that there was no reduction in the value of goodwill. The policy is now to write off the goodwill evenly over the remaining period of it's estimated useful life of 17 years.

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.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.3% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2024

and 30 June 2025

500,000

AMORTISATION

At 1 July 2024

441,180

Amortisation for year

29,412

At 30 June 2025

470,592

NET BOOK VALUE

At 30 June 2025

29,408

At 30 June 2024

58,820

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2024

282,877

8,027

1,178,088

29,941

1,498,933

Additions

24,634

1,340

783,320

3,961

813,255

At 30 June 2025

307,511

9,367

1,961,408

33,902

2,312,188

DEPRECIATION

At 1 July 2024

68,517

5,194

315,057

14,624

403,392

Charge for year

34,280

597

237,615

7,687

280,179

At 30 June 2025

102,797

5,791

552,672

22,311

683,571

NET BOOK VALUE

At 30 June 2025

204,714

3,576

1,408,736

11,591

1,628,617

At 30 June 2024

214,360

2,833

863,031

15,317

1,095,541

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2024

84,994

755,126

840,120

Additions

-

758,342

758,342

Transfer to ownership

(84,994

)

(96,807

)

(181,801

)

At 30 June 2025

-

1,416,661

1,416,661

DEPRECIATION

At 1 July 2024

19,071

222,809

241,880

Charge for year

-

135,147

135,147

Transfer to ownership

(19,071

)

(41,880

)

(60,951

)

At 30 June 2025

-

316,076

316,076

NET BOOK VALUE

At 30 June 2025

-

1,100,585

1,100,585

At 30 June 2024

65,923

532,317

598,240

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

972,564

1,036,578

Amounts owed by associates

125,998

61,200

Other debtors

7,634

1,275

Directors' loan accounts

279,718

267,518

Tax

104,688

88,865

Prepayments

57,195

40,086

1,547,797

1,495,522

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

297,573

193,002

Trade creditors

230,550

137,206

Tax

-

80,009

Social security and other taxes

15,068

50,085

VAT

185,552

152,435

Accrued expenses

28,997

28,077

757,740

640,814

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

819,702

348,522

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

1,117,275

541,524

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2025 and 30 June 2024:

2025

2024

£

£

Mrs J B Bray and N C Bray

Balance outstanding at start of year

267,518

198,738

Amounts advanced

94,500

72,780

Amounts repaid

(82,300

)

(4,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

279,718

267,518

12.	RELATED PARTY DISCLOSURES

Interest at the rate of 8% p.a. was payable until the 30 June 2013 at which time it became interest free, an amount of £8,200 remains unpaid and is included in accrued expenses.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bray's Pipelines Limited for the year ended 30 June 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the director of Bray's Pipelines Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bray's Pipelines Limited and state those matters that we have agreed to state to the director of Bray's Pipelines Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Bray's Pipelines Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bray's Pipelines Limited. You consider that Bray's Pipelines Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bray's Pipelines Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

13 January 2026