REGISTERED NUMBER: 01741938 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

INDUSTRIAL PIPEFREEZING SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G B Anderson

C A Parritt

S C Turner

D Barragan

SECRETARY:

G B Anderson

REGISTERED OFFICE:

12 Haydon Park Road

London

SW19 8JY

REGISTERED NUMBER:

01741938 (England and Wales)

ACCOUNTANTS:

Liles Morris Limited

80 Coombe Road

New Malden

Surrey

KT3 4QS

FIXED ASSETS

Intangible assets

5

-

542

Tangible assets

6

83,032

124,867

83,032

125,409

CURRENT ASSETS

Debtors

7

595,358

552,616

Cash at bank

11,197

67,420

606,555

620,036

CREDITORS

Amounts falling due within one year

8

171,584

143,607

NET CURRENT ASSETS

434,971

476,429

TOTAL ASSETS LESS CURRENT LIABILITIES

518,003

601,838

CREDITORS

Amounts falling due after more than one year

9

-

(27,390

)

PROVISIONS FOR LIABILITIES

(20,793

)

(31,352

)

NET ASSETS

497,210

543,096

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

497,110

542,996

SHAREHOLDERS' FUNDS

497,210

543,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2026 and were signed on its behalf by:

G B Anderson - Director

1.	STATUTORY INFORMATION

Industrial Pipefreezing Services Ltd 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. There were no material departures from that standard.

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.

Turnover is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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

-

20% on cost

Motor vehicles

-

25% on cost

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 16 (2024 - 15 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

26,947

AMORTISATION

At 1 January 2025

26,405

Charge for year

542

At 31 December 2025

26,947

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

542

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2025

115,368

225,103

340,471

Additions

3,025

-

3,025

Disposals

(9,821

)

-

(9,821

)

At 31 December 2025

108,572

225,103

333,675

DEPRECIATION

At 1 January 2025

91,192

124,412

215,604

Charge for year

7,924

36,795

44,719

Charge written back

(9,680

)

-

(9,680

)

At 31 December 2025

89,436

161,207

250,643

NET BOOK VALUE

At 31 December 2025

19,136

63,896

83,032

At 31 December 2024

24,176

100,691

124,867

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

Motor

vehicles

£

COST

At 1 January 2025

and 31 December 2025

103,585

DEPRECIATION

At 1 January 2025

34,528

Charge for year

25,897

At 31 December 2025

60,425

NET BOOK VALUE

At 31 December 2025

43,160

At 31 December 2024

69,057

7.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

199,316

166,085

Provision for doubtful debts

(2,670

)

(3,286

)

Other debtors

3,011

2,039

Directors' current accounts

5,447

579

Tax

2,298

-

VAT

3,147

4,770

Prepayments

19,733

17,353

230,282

187,540

Amounts falling due after more than one year:

Amounts owed by group undertakings

365,076

365,076

Aggregate amounts

595,358

552,616

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

62,778

10,000

Hire purchase contracts

26,872

37,045

Trade creditors

24,277

46,600

Tax

-

2,175

Social security and other taxes

34,919

24,807

Pension control account

6,921

6,765

Deferred income

-

4,219

Accrued expenses

15,817

11,996

171,584

143,607

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

-

4,167

Hire purchase contracts

-

23,223

-

27,390

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

58,611

-

Bounce back bank loan < 1year

4,167

10,000

62,778

10,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

4,167

Lloyds TSB Commercial Finance Limited hold a fixed and floating charge over the company assets with reference to all monies due to them from the company.

11.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had lease commitments relating to its office space expiring in April 2028. At the current annual rent of £46,186, the total commitment over the remaining lease term was £107,768 (2024: £153,954)

The company also had lease commitments relating to its yard space under a lease with the council expiring in March 2083. At the current annual rent of £14,000, the total commitment over the remaining 57 years term of the lease was £798,000 (2024: £812,000)

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

£

S C Turner

Balance outstanding at start of year

579

579

Amounts advanced

5,000

-

Amounts repaid

(133

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,446

579