Company Registration No. 12275076 (England and Wales)
PIPE FLOW LTD
Unaudited accounts
for the year ended 31 October 2022
PIPE FLOW LTD
Unaudited accounts
Contents
PIPE FLOW LTD
Company Information
for the year ended 31 October 2022
Directors
Harry Brimble
Casey Tuckwell
Company Number
12275076 (England and Wales)
Registered Office
64 Keats Way
West Drayton
Middlesex
UB7 9DU
Accountants
Lane Accounting Limited
Denmark House
143 High Street
Chalfont St Peter
Buckinghamshire
SL9 9QL
PIPE FLOW LTD
Statement of financial position
as at 31 October 2022
Tangible assets
12,686
721
Cash at bank and in hand
34,808
21,351
Creditors: amounts falling due within one year
(65,081)
(56,054)
Net current assets/(liabilities)
16,674
(674)
Total assets less current liabilities
29,360
47
Creditors: amounts falling due after more than one year
(5,000)
-
Called up share capital
2
2
Profit and loss account
24,358
45
Shareholders' funds
24,360
47
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2023 and were signed on its behalf by
Harry Brimble
Director
Company Registration No. 12275076
PIPE FLOW LTD
Notes to the Accounts
for the year ended 31 October 2022
PIPE FLOW LTD is a private company, limited by shares, registered in England and Wales, registration number 12275076. The registered office is 64 Keats Way, West Drayton, Middlesex, UB7 9DU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% per annum of cost
Fixtures & fittings
25% per annum reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
PIPE FLOW LTD
Notes to the Accounts
for the year ended 31 October 2022
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 November 2021
-
1,283
1,283
Additions
15,457
737
16,194
At 31 October 2022
15,457
2,020
17,477
At 1 November 2021
-
562
562
Charge for the year
3,864
365
4,229
At 31 October 2022
3,864
927
4,791
At 31 October 2022
11,593
1,093
12,686
At 31 October 2021
-
721
721
Amounts falling due within one year
Trade debtors
31,818
13,662
Other debtors
9,096
17,511
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
5,000
-
Taxes and social security
16,293
11,559
Loans from directors
41,997
42,880
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £5,000 (2021 £0). The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
7
Creditors: amounts falling due after more than one year
2022
2021
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £5,000 (2021 £0). The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
PIPE FLOW LTD
Notes to the Accounts
for the year ended 31 October 2022
The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. During the year £305 was contributed.
At 31 October 2022, the directors were owed £41,997 (2021 - £42,881) by the company. This is an interest-bearing loan repayable on demand. During the year £2,144 was charged to the company.
10
Average number of employees
During the year the average number of employees was 5 (2021: 4).