REGISTERED NUMBER: 01805228 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2025

for

Pipeline Products Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R H Anderson

Mr M W Jones

REGISTERED OFFICE:

15 Concorde Drive

5C Business Centre

Clevedon

Bristol

Somerset

BS21 6UH

REGISTERED NUMBER:

01805228 (England and Wales)

ACCOUNTANTS:

Dunkley's

Chartered Certified Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Intangible assets

4

12,892

10,506

Tangible assets

5

245,126

174,558

258,018

185,064

CURRENT ASSETS

Stocks

1,832,003

1,720,758

Debtors

6

992,634

1,035,069

Cash at bank and in hand

615,893

475,360

3,440,530

3,231,187

CREDITORS

Amounts falling due within one year

7

984,137

917,345

NET CURRENT ASSETS

2,456,393

2,313,842

TOTAL ASSETS LESS CURRENT LIABILITIES

2,714,411

2,498,906

CREDITORS

Amounts falling due after more than one year

8

(45,212

)

(26,849

)

PROVISIONS FOR LIABILITIES

(35,355

)

(26,487

)

NET ASSETS

2,633,844

2,445,570

CAPITAL AND RESERVES

Called up share capital

11

61,605

61,605

Retained earnings

2,572,239

2,383,965

SHAREHOLDERS' FUNDS

2,633,844

2,445,570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 27th August 2026 and were signed on its behalf by:

Mr M W Jones - Director

1.	STATUTORY INFORMATION

Pipeline Products 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.

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 comprises the invoiced value of sales of hygienic stainless steel pipes, pipe fittings and related products supplied to customers during the year, excluding value added tax. Turnover is measured at the fair value of consideration received or receivable, net of discounts and rebates.

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 three 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

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

17% on cost

Stocks

Stocks and work in progress are valued at the lower of weighted average cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 acquired under hire purchase agreements are recognised as tangible fixed assets and depreciated on a straight-line basis over their estimated useful economic lives of four years. The corresponding liability is recognised within creditors and reduced as payments are made. Finance charges are recognised in profit or loss over the term of the agreement.

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.

Cash & cash equivalents

Cash and cash equivalents consist solely of the balance held in the company's bank current account. Cash is defined as cash on hand and demand deposits, while cash equivalents are short term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. The company does not hold any short term investments and does not operate an overdraft facility.

Critical judgements & estimation uncertainty

In the application of the Company's accounting policies, which are described in note 1, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial period in which the estimate is revised if the revision affects only that financial period, or in the financial period of the revision and future financial periods if the revision affects both current and future financial periods.

Going concern

The company is reliant on the support of its director and shareholders and having made appropriate enquiries, the director has considered the future cashflow of the company and is not aware of any reason why the company will not be able to meet its liabilities as they fall due for the foreseeable future. As a result the director has continued to adopt the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2025

18,172

Additions

8,420

At 31st December 2025

26,592

AMORTISATION

At 1st January 2025

7,666

Charge for year

6,034

At 31st December 2025

13,700

NET BOOK VALUE

At 31st December 2025

12,892

At 31st December 2024

10,506

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2025

98,472

125,832

83,450

45,388

353,142

Additions

1,500

31,110

83,825

10,545

126,980

Disposals

-

-

(73,950

)

-

(73,950

)

At 31st December 2025

99,972

156,942

93,325

55,933

406,172

DEPRECIATION

At 1st January 2025

46,435

42,954

61,881

27,314

178,584

Charge for year

7,346

13,747

19,310

6,765

47,168

Eliminated on disposal

-

-

(64,706

)

-

(64,706

)

At 31st December 2025

53,781

56,701

16,485

34,079

161,046

NET BOOK VALUE

At 31st December 2025

46,191

100,241

76,840

21,854

245,126

At 31st December 2024

52,037

82,878

21,569

18,074

174,558

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st January 2025

52,995

73,950

126,945

Additions

-

83,825

83,825

Disposals

-

(73,950

)

(73,950

)

At 31st December 2025

52,995

83,825

136,820

DEPRECIATION

At 1st January 2025

12,366

52,381

64,747

Charge for year

5,299

19,310

24,609

Eliminated on disposal

-

(64,706

)

(64,706

)

At 31st December 2025

17,665

6,985

24,650

NET BOOK VALUE

At 31st December 2025

35,330

76,840

112,170

At 31st December 2024

40,629

21,569

62,198

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

880,476

881,047

Amounts owed by group undertakings

-

5,891

Other debtors

80,611

97,994

Staff loans

104

1,352

Prepayments

31,443

48,785

992,634

1,035,069

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

409,052

339,231

Hire purchase contracts (see note 9)

25,365

23,716

Trade creditors

150,413

176,033

Tax

166,427

166,429

Social security and other taxes

24,347

19,529

VAT

160,834

162,909

Other creditors

31,476

17,015

Accrued expenses

16,223

12,483

984,137

917,345

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans - 1-2 years

-

4,812

Hire purchase contracts (see note 9)

45,212

22,037

45,212

26,849

9.	LEASING AGREEMENTS

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Hire purchase contracts

70,577

45,753

RBS

404,636

329,231

475,213

374,984

The RBS account relates to an invoice discounting agreement with RBS Invoice Finance Limited, and is secured by a fixed and floating charge over the company's assets.

Hire purchase contracts are secured by hired charges over the assets indicated in note 7.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

61,605

Ordinary

£1

61,605

61,605

12.	CONTINGENT LIABILITIES

There were no contingent liabilities or capital commitments at the balance sheet date.

13.	CAPITAL COMMITMENTS

31.12.25

31.12.24

£

£

Contracted but not provided for in the

financial statements

644,115

644,115

14.	RELATED PARTY DISCLOSURES

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.

15.	EVENTS AFTER BALANCE SHEET DATE

There have been no events after the balance sheet date affecting the Company since the financial period.

16.	FINANCIAL INSTRUMENTS

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.Trade debtors, other debtors, cash and bank balances are initially measured at transaction price. They are subsequently measured at amortised cost, using the effective interest method, except where amounts fall due within one year, in which case they remain at the transaction price as discounting is not required for short term balances

Where payment terms extend beyond normal business terms, or the arrangement includes a financing element, the financial asset is measured at the present value of future cash flows, discounted at a market rate of interest.

Trade creditors, loans and accruals are initially recognised at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction, in which case liabilities are measured at the present value of future payments discounted at a market rate of interest.

Financial assets measured at cost or amortised cost are assessed for impairment at the reporting date. Any impairment loss is recognised in the profit and loss account. Reversals of impairment are recognised immediately when the estimated recoverable amount increases, provided the revised carrying value does not exceed the original carrying amount had no impairment occurred.

Financial assets and financial liabilities are only offset when the company has a legally enforceable right to set off the recognised amounts and intends to settle on a net basis or to realise the asset and settle the liability simultaneously.

17.	FUNCTIONAL AND PRESENTATION CURRENCY

The financial statements are presented in £ sterling, which is the company's functional and presentation currency