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REGISTERED NUMBER: 04871030 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Pearce Hydraulics Limited

Pearce Hydraulics Limited (Registered number: 04871030)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pearce Hydraulics Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: M A Pearce





SECRETARY: Mrs N M Pearce





REGISTERED OFFICE: Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST





REGISTERED NUMBER: 04871030 (England and Wales)





ACCOUNTANTS: Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST

Pearce Hydraulics Limited (Registered number: 04871030)

Statement of Financial Position
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 72,265 63,687
72,265 63,687

CURRENT ASSETS
Inventories 2,000 2,000
Debtors 6 49,423 59,538
Investments 7 40,000 40,000
Cash at bank 173,868 163,064
265,291 264,602
CREDITORS
Amounts falling due within one year 8 88,040 94,380
NET CURRENT ASSETS 177,251 170,222
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,516

233,909

PROVISIONS FOR LIABILITIES 13,730 12,100
NET ASSETS 235,786 221,809

Pearce Hydraulics Limited (Registered number: 04871030)

Statement of Financial Position - continued
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 235,686 221,709
SHAREHOLDERS' FUNDS 235,786 221,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 24 November 2023 and were signed by:





M A Pearce - Director


Pearce Hydraulics Limited (Registered number: 04871030)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Pearce Hydraulics 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
Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Pearce Hydraulics Limited (Registered number: 04871030)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

Pearce Hydraulics Limited (Registered number: 04871030)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 30,000
AMORTISATION
At 1 September 2022
and 31 August 2023 30,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 22,223 2,759 142,079 6,821 173,882
Additions 5,000 - 24,290 2,300 31,590
At 31 August 2023 27,223 2,759 166,369 9,121 205,472
DEPRECIATION
At 1 September 2022 12,636 1,721 91,044 4,794 110,195
Charge for year 3,294 208 18,834 676 23,012
At 31 August 2023 15,930 1,929 109,878 5,470 133,207
NET BOOK VALUE
At 31 August 2023 11,293 830 56,491 3,651 72,265
At 31 August 2022 9,587 1,038 51,035 2,027 63,687

Pearce Hydraulics Limited (Registered number: 04871030)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2022
and 31 August 2023 17,000
DEPRECIATION
At 1 September 2022
and 31 August 2023 13,414
NET BOOK VALUE
At 31 August 2023 3,586
At 31 August 2022 3,586

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 48,396 58,710
Prepayments 1,027 828
49,423 59,538

7. CURRENT ASSET INVESTMENTS
31.8.23 31.8.22
£    £   
Other 40,000 40,000

Pearce Hydraulics Limited (Registered number: 04871030)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts - 5,362
Trade creditors 16,940 37,215
Tax 48,270 22,572
Social security and other taxes 1,619 992
VAT 20,542 22,647
Other creditors 557 5,440
Directors' current accounts 112 152
88,040 94,380

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Hire purchase contracts - 5,362

The hire purchase creditors are secured on the assets themselves.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 September 2022 221,709
Profit for the year 183,977
Dividends (170,000 )
At 31 August 2023 235,686

Pearce Hydraulics Limited (Registered number: 04871030)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

12. RELATED PARTY DISCLOSURES

M A Pearce
Director

During the year the company entered into the following transactions with the director:
2023 2022

Dividends paid 85,000 59,750

Use of residence as office 520 520

Capital introduced - -

Capital withdrawn 40 56

At the year end the amount due to the director was £112 (2022 - £152).

Bell Hill Properties Limited
A company in which the director holds shares.

During the year the company entered into the following transactions with Bell Hill Properties Limited:

2023 2022

Rent paid 8,463 7,104

13. ULTIMATE CONTROLLING PARTY

The controlling party is M A Pearce.