REGISTERED NUMBER: 01315457 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2026

FOR

PIPAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr B J Kantaria

Mr A B Kantaria

SECRETARY:

Mrs B B Kantaria

REGISTERED OFFICE:

Unit 8, 224, Iverson Road

London

NW6 2HL

REGISTERED NUMBER:

01315457 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,660

1,140

Investments

5

772,639

473,751

775,299

474,891

CURRENT ASSETS

Debtors

6

958,608

987,538

Cash at bank

183,425

32,787

1,142,033

1,020,325

CREDITORS

Amounts falling due within one year

7

26,959

73,876

NET CURRENT ASSETS

1,115,074

946,449

TOTAL ASSETS LESS CURRENT LIABILITIES

1,890,373

1,421,340

CREDITORS

Amounts falling due after more than one year

8

2,687,602

2,287,472

NET LIABILITIES

(797,229

)

(866,132

)

CAPITAL AND RESERVES

Called up share capital

9

50,000

50,000

Retained earnings

(847,229

)

(916,132

)

SHAREHOLDERS' FUNDS

(797,229

)

(866,132

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 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 21st August 2026 and were signed on its behalf by:

Mr B J Kantaria - Director

1.	STATUTORY INFORMATION

Pipal 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.

At the year end, the company's balance sheet showed net liabilities of £797,229 (2025: £866,132).

These financial statements have been prepared on a going concern basis, as the company has received assurances from the shareholders and directors. These individuals have confirmed that they will provide ongoing financial support to the company so that the latter can meet its liabilities as and when these fall due. The directors and their close relatives have also subordinated their loans totalling £2,687,602 in favour of other creditors of the company.

Turnover

Turnover represents value of goods sold, excluding value added tax and net of any discounts.

Turnover for sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer and when there is no continuing involvement with goods.

Tangible fixed assets

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

Computer equipment

-

15% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Current assets investments

Current assets investments are stated at historical cost less any provision for permanent diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2025

2,048

Additions

2,024

At 31st March 2026

4,072

DEPRECIATION

At 1st April 2025

908

Charge for year

504

At 31st March 2026

1,412

NET BOOK VALUE

At 31st March 2026

2,660

At 31st March 2025

1,140

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2025

473,751

Additions

924,999

Disposals

(626,111

)

At 31st March 2026

772,639

NET BOOK VALUE

At 31st March 2026

772,639

At 31st March 2025

473,751

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

756,390

773,072

Other debtors

201,582

214,452

VAT

636

14

958,608

987,538

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

1,333

3,732

Other creditors

25,626

70,144

26,959

73,876

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

1,529

Other creditors

2,687,602

2,285,943

2,687,602

2,287,472

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

50,000

Ordinary shares

£1

50,000

50,000

10.	RELATED PARTY DISCLOSURES

(i) Certain Directors have given a limited personal guarantee of £400,000 to secure funding for the company.

(ii) A company with common director/shareholder had a balance payable of £28,000 (2025: £30,354) to Pipal Limited as at 31st March 2026. This is an interest free and unsecured loan.

(iii) The Directors, shareholders and close family members have provided an interest free, unsecured and subordinated loans to the Company. As at 31st March 2026, a total balance of £2,867,602 (2025: £2,285,943) was due to these persons by the Company.

(iv) The company occupies a part of the property owned by another company (with common directors/shareholders) for its business activities and pays the rent of £10,000 per annum (2025: £12,000). The tenancy terms are under negotiation.

11.	ULTIMATE CONTROLLING PARTY

The Company was controlled throughout the current and previous period by the Kantaria family.