Pipeline Energy Solutions Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC645385

Pipeline Energy Solutions Ltd

Filleted Unaudited Financial Statements

31 October 2025

Pipeline Energy Solutions Ltd

Financial Statements

Year ended 31 October 2025

Contents	Page

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Pipeline Energy Solutions Ltd

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Pipeline Energy Solutions Ltd

Year ended 31 October 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pipeline Energy Solutions Ltd for the year ended 31 October 2025, which comprise the statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Pipeline Energy Solutions Ltd. Our work has been undertaken solely to prepare for your approval the financial statements of Pipeline Energy Solutions Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pipeline Energy Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that Pipeline Energy Solutions Ltd 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 Pipeline Energy Solutions Ltd. You consider that Pipeline Energy Solutions Ltd 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 Pipeline Energy Solutions Ltd. 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.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

31 July 2026

Pipeline Energy Solutions Ltd

Statement of Financial Position

31 October 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,500,041	2,086,648

Current assets

Debtors	6	2,237,621	1,751,024
Cash at bank and in hand		886,878	682,280
		------------	------------
		3,124,499	2,433,304

Creditors: amounts falling due within one year	7	1,874,806		1,307,073
		------------		------------
Net current assets			1,249,693	1,126,231
			------------	------------
Total assets less current liabilities			3,749,734	3,212,879

Creditors: amounts falling due after more than one year	8		1,367,319	1,350,278

Provisions

Taxation including deferred tax	594,954	498,025
	------------	------------
Net assets	1,787,461	1,364,576
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,787,361	1,364,476
	------------	------------
Shareholders funds	1,787,461	1,364,576
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pipeline Energy Solutions Ltd

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 31 July 2026 , and are signed on behalf of the board by:

David Richardson
Director

Company registration number: SC645385

Pipeline Energy Solutions Ltd

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 121 Barfillan Drive, Glasgow, G52 1BD, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Improvements	-	20% reducing balance
Plant and machinery	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	15% reducing balance

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2024: 8 ).

5. Tangible assets

	Leasehold Improvements	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 November 2024	–	2,298,660	971,082	16,672	3,286,414
Additions	8,837	716,499	310,262	5,497	1,041,095
Disposals	–	–	( 47,874)	–	( 47,874)
	-------	------------	------------	--------	------------
At 31 October 2025	8,837	3,015,159	1,233,470	22,169	4,279,635
	-------	------------	------------	--------	------------
Depreciation
At 1 November 2024	–	738,785	452,746	8,235	1,199,766
Charge for the year	1,620	430,672	178,056	1,366	611,714
Disposals	–	–	( 31,886)	–	( 31,886)
	-------	------------	------------	--------	------------
At 31 October 2025	1,620	1,169,457	598,916	9,601	1,779,594
	-------	------------	------------	--------	------------
Carrying amount
At 31 October 2025	7,217	1,845,702	634,554	12,568	2,500,041
	-------	------------	------------	--------	------------
At 31 October 2024	–	1,559,875	518,336	8,437	2,086,648
	-------	------------	------------	--------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	763,837	507,031
Amounts owed by group undertakings	13,435	–
Prepayments and accrued income	1,294,958	1,209,779
Director's loan account	162,104	34,214
Other debtors	3,287	–
	------------	------------
	2,237,621	1,751,024
	------------	------------

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Prepayments and accrued income	497,807	372,896
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	7,904	10,648
Trade creditors	399,030	365,765
Amounts owed to group undertakings	26,380	–
Accruals and deferred income	204,942	22,146
Corporation tax	151,682	52,965
Social security and other taxes	459,109	365,024
Obligations under finance leases and hire purchase contracts	622,512	486,815
Other creditors	3,247	3,710
	------------	------------
	1,874,806	1,307,073
	------------	------------

Amounts due under hire purchase and finance lease obligations are secured by the assets to which they relate

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	7,566
Obligations under finance leases and hire purchase contracts	1,367,319	1,342,712
	------------	------------
	1,367,319	1,350,278
	------------	------------

Amounts due under hire purchase and finance lease obligations are secured by the assets to which they relate

9. Prior period adjustment

The Financial Statements to 31 October 2024 have been restated to reclassify Work in Progress balances of £591,608 included within the Stock heading as Accrued Income in line with the current year accounting treatment, and to provide a clearer reflection of the statement of financial position. The prior year Financial Statements have been also restated to reclassify balances due from retentions of £613,671 which were included within the Trade Debtors heading as Accrued Income, in line with the current year accounting treatment and to provide a clearer reflection of the statement of financial position.

10. Director's advances, credits and guarantees

As at 31 October 2025 the company was owed £162,104 from the director (2024: £34,214). Interest has been charged on this in line with HMRC's beneficial loan interest rates. The loan is unsecured and has no fixed date of repayment.

11. Related party transactions

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. Controlling party

From 30 May 2025, the company is a wholly owned subsidiary of Energy & Engineering Solutions (Holdings) Limited. David Richardson , the director, has a controlling interest in the parent company. Prior to that date, he had control of the company.