PEELINGS & PIPS LIMITED


Director	PARKER, Graham


Registered Address	54 Nunwick Way
	Haydon Grange
	Newcastle Upon Tyne
	NE7 7GB


Registered Number	04971195 (England and Wales)

Balance Sheet as at
31 August 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		39,679		51,749
			39,679		51,749
Current assets
Debtors	4	135,456		151,016
Cash at bank and on hand		25,493		-
		160,949		151,016
Creditors amounts falling due within one year	5	(73,261)		(103,287)
Net current assets (liabilities)			87,688		47,729
Total assets less current liabilities			127,367		99,478
Creditors amounts falling due after one year	6		(21,060)		(16,312)
Net assets			106,307		83,166
Capital and reserves
Called up share capital			100		100
Profit and loss account			106,207		83,066
Shareholders' funds			106,307		83,166

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 13 May 2026, and are signed on its behalf by:

PARKER, Graham
Director
Registered Company No. 04971195

PEELINGS & PIPS LIMITED

Notes to the Financial Statements
for the year ended 31 August 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Plant and machinery	5
	Vehicles	5

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		3

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 September 24	32,453	68,238	100,691
Additions	325	12,995	13,320
Disposals	-	(14,995)	(14,995)
At 31 August 25	32,778	66,238	99,016
Depreciation and impairment
At 01 September 24	19,889	29,053	48,942
Charge for year	1,113	13,031	14,144
On disposals	-	(3,749)	(3,749)
At 31 August 25	21,002	38,335	59,337
Net book value
At 31 August 25	11,776	27,903	39,679
At 31 August 24	12,564	39,185	51,749

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	134,164	146,064
Other debtors	1,292	4,952
Total	135,456	151,016

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	13,963	39,920
Bank borrowings and overdrafts	2,760	6,016
Amounts owed to related parties	8,238	31,191
Taxation and social security	14,516	9,085
Finance lease and HP contracts	10,140	5,800
Other creditors	298	10,000
Accrued liabilities and deferred income	23,346	1,275
Total	73,261	103,287

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	13,861	4,753
Other creditors	7,199	11,559
Total	21,060	16,312

7.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	17,339		17,359