| REGISTERED NUMBER: |
| Pipeserv Limited |
| Unaudited Financial Statements |
| for the Year Ended 29th January 2026 |
| REGISTERED NUMBER: |
| Pipeserv Limited |
| Unaudited Financial Statements |
| for the Year Ended 29th January 2026 |
| Pipeserv Limited (Registered number: 08387747) |
| Contents of the Financial Statements |
| for the year ended 29th January 2026 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| Pipeserv Limited |
| Company Information |
| for the year ended 29th January 2026 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| Academy House |
| Shedden Park Road |
| Kelso |
| Roxburghshire |
| TD5 7AL |
| Pipeserv Limited (Registered number: 08387747) |
| Statement of Financial Position |
| 29th January 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Investments | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current (liabilities)/assets | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| Pipeserv Limited (Registered number: 08387747) |
| Statement of Financial Position - continued |
| 29th January 2026 |
| 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 were approved by the Board of Directors and authorised for issue on |
| Pipeserv Limited (Registered number: 08387747) |
| Notes to the Financial Statements |
| for the year ended 29th January 2026 |
| 1. | Statutory information |
| Pipeserv Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
| Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Financial instruments |
| The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans, other loans, accruals, directors loans and hire purchase contracts. |
| Hire purchase contracts and bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
| Trade debtors, trade creditors, other loans, directors loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
| Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
| Taxation |
| Taxation for the year comprises current 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 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 statement of financial position date. |
| Pipeserv Limited (Registered number: 08387747) |
| Notes to the Financial Statements - continued |
| for the year ended 29th January 2026 |
| 2. | Accounting policies - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period. |
| Rentals paid under operating leases are charged to profit and 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. |
| Provisions |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
| Employee benefits |
| Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
| Current asset investments |
| Current asset investments are stated at cost less provision for permanent diminution in value. |
| Going concern |
| The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Pipeserv Limited (Registered number: 08387747) |
| Notes to the Financial Statements - continued |
| for the year ended 29th January 2026 |
| 4. | Tangible fixed assets |
| Freehold | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 30th January 2025 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 29th January 2026 |
| Depreciation |
| At 30th January 2025 |
| Charge for year |
| At 29th January 2026 |
| Net book value |
| At 29th January 2026 |
| At 29th January 2025 |
| 5. | Debtors: amounts falling due within one year |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | Current asset investments |
| 2026 | 2025 |
| £ | £ |
| Unlisted investments | 1 | 1 |
| 7. | Creditors: amounts falling due within one year |
| 2026 | 2025 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2026 | 2025 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Pipeserv Limited (Registered number: 08387747) |
| Notes to the Financial Statements - continued |
| for the year ended 29th January 2026 |
| 8. | Creditors: amounts falling due after more than one year - continued |
| 2026 | 2025 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due after five years | 66,033 | - |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 2026 | 2025 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 8,558 | 5,363 |
| The HP liabilities are secured against the assets to which they relate. |
| National Westminister Bank PLC holds a charge over 29/31 Whitehill Road, Glenrothes. |
| 10. | Post balance sheet events |
| Since the year end, on 6 August 2026, a final dividend for the year ended 29 January 2026 of £35,000 per share has been declared. |