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Union Hydraulics Ltd
Registered Number:08089764
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
Union Hydraulics Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
08089764
As at 31 March 2023
Union Hydraulics Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
124,105
149,520
2
124,105
149,520
Current assets
Inventories
200,000
205,000
3
Trade and other receivables
96,846
118,001
4
74,741
Cash and cash equivalents
87,958
410,959
371,587
Trade and other payables: amounts falling due within one
year
(24,309)
(27,675)
5
347,278
383,284
Net current assets
Total assets less current liabilities
507,389
496,798
(7,252)
(8,496)
Provisions for liabilities
500,137
Net assets
488,302
Capital and reserves
Called up share capital
20
20
Retained earnings
500,117
488,282
500,137
488,302
Shareholders' funds
For the year ended 31 March 2023 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 of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Shane Hinshelwood Director
These financial statements were approved and authorised for issue by the Board on 16 November 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2023
Union Hydraulics Ltd
Notes to the Financial Statements
Statutory Information
Union Hydraulics Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08089764.
Registered address:
Unit 10 Carbrook Business Park
Dunlop Street
Sheffield
South Yorkshire
S9 2HR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
20% Reducing balance
Motor vehicles
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
2 of 4
5
For the year ended 31 March 2023
Union Hydraulics Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 April 2022
429,763
43,437
236,955
149,371
At 31 March 2023
149,371
236,955
43,437
429,763
Provision for depreciation and impairment
At 01 April 2022
280,243
23,836
165,372
91,035
Charge for year
25,415
2,948
13,717
8,750
At 31 March 2023
305,658
26,784
179,089
99,785
At 31 March 2023
Net book value
49,586
57,866
16,653
124,105
At 31 March 2022
58,336
71,583
19,601
149,520
3. Inventories
2022
2023
£
£
Stocks
205,000
200,000
4. Trade and other receivables
2022
2023
£
£
Trade debtors
113,268
92,141
Other debtors
4,733
4,705
96,846
118,001
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
14,190
15,559
Taxation and social security
11,805
6,941
Other creditors
1,680
1,809
27,675
24,309
6. Average number of persons employed
During the year the average number of employees was 4 (2022 : 4)
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6
For the year ended 31 March 2023
Union Hydraulics Ltd
Notes to the Financial Statements Continued
4 of 4