REGISTERED NUMBER: 06920032 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

Pipework Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr T M Vallely

Mr G Vallely

Registered office:

11 Lansdowne Road

Chadderton

Oldham

Lancashire

OL9 9EG

Registered number:

06920032 (England and Wales)

Accountants:

Allen Mills Howard & Co

Library Chambers

48 Union Street

Hyde

Cheshire

SK14 1ND

Fixed assets

Tangible assets

4

1,571,876

1,214,833

Current assets

Stocks

195,831

123,173

Debtors

5

2,109,852

1,569,918

Cash at bank and in hand

577

325,371

2,306,260

2,018,462

Creditors

Amounts falling due within one year

6

1,410,283

491,322

Net current assets

895,977

1,527,140

Total assets less current liabilities

2,467,853

2,741,973

Creditors

Amounts falling due after more than one year

7

(1,139,879

)

(1,210,886

)

Provisions for liabilities

(202,841

)

(243,586

)

Net assets

1,125,133

1,287,501

Capital and reserves

Called up share capital

8

100

100

Retained earnings

1,125,033

1,287,401

Shareholders' funds

1,125,133

1,287,501

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2026 and were signed on its behalf by:

Mr T M Vallely - Director

Mr G Vallely - Director

1.	Statutory information

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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 12 (2024 - 9 ) .

4.	Tangible fixed assets

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

Cost

At 1 December 2024

178,483

10,500

734,142

Additions

326,542

-

117,891

At 30 November 2025

505,025

10,500

852,033

Depreciation

At 1 December 2024

-

10,500

279,046

Charge for year

-

-

143,247

At 30 November 2025

-

10,500

422,293

Net book value

At 30 November 2025

505,025

-

429,740

At 30 November 2024

178,483

-

455,096

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 December 2024

9,061

1,044,602

44,606

2,021,394

Additions

43,064

209,583

14,945

712,025

At 30 November 2025

52,125

1,254,185

59,551

2,733,419

Depreciation

At 1 December 2024

2,265

487,737

27,013

806,561

Charge for year

12,465

191,612

7,658

354,982

At 30 November 2025

14,730

679,349

34,671

1,161,543

Net book value

At 30 November 2025

37,395

574,836

24,880

1,571,876

At 30 November 2024

6,796

556,865

17,593

1,214,833

5.

Debtors

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

1,000,297

568,485

Other debtors

894,709

778,466

1,895,006

1,346,951

Amounts falling due after more than one year:

Other debtors

214,846

222,967

Aggregate amounts

2,109,852

1,569,918

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

149,801

59,981

Trade creditors

804,194

333,667

Taxation and social security

410,922

96,304

Other creditors

45,366

1,370

1,410,283

491,322

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

39,612

40,019

Hire purchase contracts

1,100,267

1,170,867

1,139,879

1,210,886

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

9.	Directors' advances, credits and guarantees

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

2025

2024

£

£

Mr G Vallely

Balance outstanding at start of year

24,180

673

Amounts advanced

-

24,180

Amounts repaid

(7,763

)

(673

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,417

24,180

Mr T M Vallely

Balance outstanding at start of year

(860

)

-

Amounts advanced

13,326

-

Amounts repaid

-

(860

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,466

(860

)