Company registration number 01950662 (England and Wales)
KT Hydraulics Limited
Unaudited
financial statements
for the year ended 30 September 2023
PAGES FOR FILING WITH REGISTRAR
KT Hydraulics Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
KT Hydraulics Limited
Statement of financial position
as at 30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,618
29,124
Current assets
Stocks
847,179
715,236
Debtors
919,578
964,671
Cash at bank and in hand
890,195
833,763
2,656,952
2,513,670
Creditors: amounts falling due within one year
(859,199)
(698,976)
Net current assets
1,797,753
1,814,694
Net assets
1,852,371
1,843,818
Capital and reserves
Called up share capital
4
15,000
15,000
Profit and loss reserves
1,837,371
1,828,818
Total equity
1,852,371
1,843,818

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 10 November 2023 and are signed on its behalf by:
R A Ellis
Director
Company registration number 01950662 (England and Wales)
KT Hydraulics Limited
Notes to the financial statements
for the year ended 30 September 2023
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements are prepared under historical cost convention and comply with financial reporting standards of the Accounting Standards Board.

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 on completion of performance of contractual obligations.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
10% Straight line
Fixtures, fittings & equipment
20% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to its present location and condition.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Government grants

Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

KT Hydraulics Limited
Notes to the financial statements (continued)
for the year ended 30 September 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
20
20
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 October 2022
356,078
179,175
535,253
Additions
13,534
25,174
38,708
At 30 September 2023
369,612
204,349
573,961
Depreciation and impairment
At 1 October 2022
351,578
154,551
506,129
Depreciation charged in the year
1,544
11,670
13,214
At 30 September 2023
353,122
166,221
519,343
Carrying amount
At 30 September 2023
16,490
38,128
54,618
At 30 September 2022
4,500
24,624
29,124
4
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
15,000
15,000
15,000
15,000
5
Ultimate parent undertaking

The ultimate parent undertaking is considered to be KTH Engineering Group Limited, a company incorporated in England and Wales whose registered office is situated at Gannex Park, Dewsbury Road, Elland, West Yorkshire, HX5 9AF.

6
Company information

KT Hydraulics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gannex Park, Dewsbury Road, Elland, West Yorkshire, HX5 9AF.

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