Company No: SC332218 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	21,954		24,436
Tangible assets	4	56,693		66,698
		78,647		91,134
Current assets
Stocks		18,760		18,760
Debtors	5	39,667		15,497
		58,427		34,257
Creditors: amounts falling due within one year	6	( 544,755)		( 407,543)
Net current liabilities		(486,328)		(373,286)
Total assets less current liabilities		(407,681)		(282,152)
Creditors: amounts falling due after more than one year	7	( 31,245)		( 31,245)
Net liabilities		( 438,926)		( 313,397)
Capital and reserves
Called-up share capital	8	1,301		1,301
Share premium account		71,712		71,712
Profit and loss account		( 511,939 )		( 386,410 )
Total shareholders' deficit		( 438,926)		( 313,397)

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Pipeline Cleaning Solutions Limited (registered number: SC332218) were approved and authorised for issue by the Board of Directors on 16 October 2026. They were signed on its behalf by:

J G Burns Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pipeline Cleaning Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 46 St. Swithin Street, Aberdeen, AB10 6XJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £438,926. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

20 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 % reducing balance
Fixtures and fittings	15 % reducing balance
Office equipment	15 % reducing balance

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the Company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 November 2024	49,637		49,637
At 31 October 2025	49,637		49,637
Accumulated amortisation
At 01 November 2024	25,201		25,201
Charge for the financial year	2,482		2,482
At 31 October 2025	27,683		27,683
Net book value
At 31 October 2025	21,954		21,954
At 31 October 2024	24,436		24,436

4. Tangible assets

	Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 November 2024	191,575		3,011		6,003		200,589
At 31 October 2025	191,575		3,011		6,003		200,589
Accumulated depreciation
At 01 November 2024	127,205		2,493		4,193		133,891
Charge for the financial year	9,656		78		271		10,005
At 31 October 2025	136,861		2,571		4,464		143,896
Net book value
At 31 October 2025	54,714		440		1,539		56,693
At 31 October 2024	64,370		518		1,810		66,698

5. Debtors

	2025		2024
	£		£
Other debtors	39,667		15,497

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,000		10,000
Trade creditors	327,379		228,145
Other taxation and social security	100,748		100,748
Other creditors	106,628		68,650
	544,755		407,543

There are no amounts included above in respect of which any security has been given by the entity.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	31,245		31,245

There are no amounts included above in respect of which any security has been given by the entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,301 Ordinary shares of £ 1.00 each	1,301		1,301

9. Events after the Balance Sheet date

Subsequent to the balance sheet date, the Company reached settlement in relation to legal proceedings that had been ongoing at the year end. Under the terms of the settlement, the Company received proceeds of £380,840 during the year ending 31 October 2026.

As the settlement was not agreed and receipt was not virtually certain at the balance sheet date, no asset has been recognised in these financial statements. This has therefore been treated as a non-adjusting post-balance sheet event.