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Financial Statements for the Year Ended 31 December 2018 |
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Pipmato Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 December 2018 |
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for |
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Pipmato Limited |
Pipmato Limited (Registered number: SC268618) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Pipmato Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
18 North Silver Street |
Aberdeen |
AB10 1JU |
Pipmato Limited (Registered number: SC268618) |
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Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Fair value reserve | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
Pipmato Limited (Registered number: SC268618) |
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Balance Sheet - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Pipmato Limited (Registered number: SC268618) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Pipmato Limited is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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Turnover |
Turnover represents the amount derived from the provision of goods and services falling within the company's |
activities after deduction of trade discounts and value added tax. Turnover is recognised from the provision of |
rental services to related companies. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
Pipmato Limited (Registered number: SC268618) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Fair value at 31 December 2018 is represented by: |
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£ |
Valuation in 2009 | 349,426 |
Valuation in 2011 | 10,000 |
Valuation in 2012 | 38,100 |
Valuation in 2013 | 340,129 |
Valuation in 2014 | 100,000 |
Valuation in 2016 | (770,832 | ) |
Valuation in 2017 | (31,972 | ) |
Cost | 1,082,564 |
1,117,415 |
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If investment properties had not been revalued they would have been included at the following historical cost: |
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31.12.18 | 31.12.17 |
£ | £ |
Cost | 1,082,564 | 1,079,317 |
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Investment properties were valued on an open market basis on 31 December 2018 by Philip Anderson, the sole director |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Pipmato Limited (Registered number: SC268618) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 149,433 | 219,316 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.18 | 31.12.17 |
£ | £ |
Bank loans |
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Lloyds TSB Bank holds 4 securities over the properties at 10 and 12/14 North Silver Street, 315 Holburn Street |
and 22 Exchange Street as well as a floating charge over the assets and undertakings of the company. The |
director, Philip Anderson, has given a personal guarantee of £100,000 plus interest. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.18 | 31.12.17 |
value: | £ | £ |
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Ordinary | £1 | 96 | 96 |
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9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2018 |
and 31 December 2018 |
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