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REGISTERED NUMBER: 09431443 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

I S HYDRAULICS LTD

I S HYDRAULICS LTD (REGISTERED NUMBER: 09431443)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I S HYDRAULICS LTD

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: I Slee
Mrs D Slee





REGISTERED OFFICE: 10 Battle View
Blaydon-On-Tyne
Tyne and Wear
NE21 4FR





REGISTERED NUMBER: 09431443 (England and Wales)





ACCOUNTANTS: Robert Miller & Co.
Chartered Accountants
43a Front Street
Cleadon Village
Sunderland
SR6 7PG

I S HYDRAULICS LTD (REGISTERED NUMBER: 09431443)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 38,238 29,820

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 4 79,869 80,272
Cash at bank 49,753 44,734
134,622 130,006
CREDITORS
Amounts falling due within one
year

5

69,500

72,802
NET CURRENT ASSETS 65,122 57,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,360

87,024

CREDITORS
Amounts falling due after more
than one year

6

(2,190

)

-

PROVISIONS FOR LIABILITIES (7,265 ) (5,666 )
NET ASSETS 93,905 81,358

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 93,805 81,258
SHAREHOLDERS' FUNDS 93,905 81,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

I S HYDRAULICS LTD (REGISTERED NUMBER: 09431443)

BALANCE SHEET - continued
28 February 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





I Slee - Director


I S HYDRAULICS LTD (REGISTERED NUMBER: 09431443)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

I S HYDRAULICS LTD (REGISTERED NUMBER: 09431443)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

3. TANGIBLE FIXED ASSETS
Plant and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 March 2022 4,197 49,776 53,973
Additions 1,707 26,802 28,509
Disposals - (23,781 ) (23,781 )
At 28 February 2023 5,904 52,797 58,701
DEPRECIATION
At 1 March 2022 1,511 22,642 24,153
Charge for year 879 11,574 12,453
Eliminated on disposal - (16,143 ) (16,143 )
At 28 February 2023 2,390 18,073 20,463
NET BOOK VALUE
At 28 February 2023 3,514 34,724 38,238
At 28 February 2022 2,686 27,134 29,820

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 26,802
At 28 February 2023 26,802
DEPRECIATION
Charge for year 6,700
At 28 February 2023 6,700
NET BOOK VALUE
At 28 February 2023 20,102

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 78,835 79,764
Other debtors 1,034 508
79,869 80,272

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,754 -
Trade creditors 51,708 46,956
Taxation and social security 12,405 23,730
Other creditors 1,633 2,116
69,500 72,802

I S HYDRAULICS LTD (REGISTERED NUMBER: 09431443)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 2,190 -