Pipeline Fabrications Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09390597 (England and Wales)

Financial Statements

for the Year Ended 31 January 2021

for

Pipeline Fabrications Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A D Boyle

SECRETARY:

A D Boyle

REGISTERED OFFICE:

Unit 40 Pioneer Mill

Milltown Street

Radcliffe

M26 1WN

REGISTERED NUMBER:

09390597 (England and Wales)

ACCOUNTANTS:

Archwood Accountants

Archwood House

46-48 Long Street

Middleton

Manchester

M24 6UQ

FIXED ASSETS

Property, plant and equipment

4

12,694

16,088

CURRENT ASSETS

Debtors

5

5,018

7,280

Cash at bank

158,510

43,161

163,528

50,441

CREDITORS

Amounts falling due within one year

6

39,086

12,925

NET CURRENT ASSETS

124,442

37,516

TOTAL ASSETS LESS CURRENT LIABILITIES

137,136

53,604

PROVISIONS FOR LIABILITIES

2,115

2,075

NET ASSETS

135,021

51,529

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

135,020

51,528

SHAREHOLDERS' FUNDS

135,021

51,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 October 2021 and were signed by:

A D Boyle - Director

1.	STATUTORY INFORMATION

Pipeline Fabrications Limited 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 February 2020

and 31 January 2021

14,150

17,095

31,245

DEPRECIATION

At 1 February 2020

7,871

7,286

15,157

Charge for year

942

2,452

3,394

At 31 January 2021

8,813

9,738

18,551

NET BOOK VALUE

At 31 January 2021

5,337

7,357

12,694

At 31 January 2020

6,279

9,809

16,088

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade debtors

3,948

5,550

Other debtors

-

516

Prepayments and accrued income

-

1,214

Prepayments

1,070

-

5,018

7,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade creditors

2,843

2,798

Tax

29,320

4,574

Social security and other taxes

779

4,255

VAT

4,340

-

Directors' current accounts

554

48

Accrued expenses

1,250

1,250

39,086

12,925