Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31false22truetrueSale of hydraulic testing equipment2022-08-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10157619 2022-08-01 2023-07-31 10157619 2021-08-01 2022-07-31 10157619 2023-07-31 10157619 2022-07-31 10157619 c:Director1 2022-08-01 2023-07-31 10157619 c:Director2 2022-08-01 2023-07-31 10157619 c:RegisteredOffice 2022-08-01 2023-07-31 10157619 d:CurrentFinancialInstruments 2023-07-31 10157619 d:CurrentFinancialInstruments 2022-07-31 10157619 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10157619 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 10157619 d:ShareCapital 2023-07-31 10157619 d:ShareCapital 2022-07-31 10157619 d:RetainedEarningsAccumulatedLosses 2023-07-31 10157619 d:RetainedEarningsAccumulatedLosses 2022-07-31 10157619 c:FRS102 2022-08-01 2023-07-31 10157619 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 10157619 c:FullAccounts 2022-08-01 2023-07-31 10157619 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 10157619









HYDRAJAWS (US) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
HYDRAJAWS (US) LIMITED
 
 
COMPANY INFORMATION


Directors
Mr A G Morgan 
Ms S E Morgan 




Registered number
10157619



Registered office
73 Kettlebrook Road
Tamworth

Staffordshire

B77 1AG




Accountants
Wayside Accountancy Limited
Chartered Accountants

Mulberry Offices

46-48 Mere Green Road

Sutton Coldfield

West Midlands

B75 5BT





 
HYDRAJAWS (US) LIMITED
 

CONTENTS



Page
Balance Sheet
1
Notes to the Financial Statements
2 - 5


 
HYDRAJAWS (US) LIMITED
REGISTERED NUMBER: 10157619

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
13,304
24,209

Cash at bank and in hand
 5 
41,652
81,663

  
54,956
105,872

Creditors: amounts falling due within one year
 6 
(10,380)
(76,170)

Net current assets
  
 
 
44,576
 
 
29,702

Total assets less current liabilities
  
44,576
29,702

  

Net assets
  
44,576
29,702


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
44,476
29,602

  
44,576
29,702


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 March 2024.


Mr A G Morgan
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
HYDRAJAWS (US) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Hydrajaws (US) Limited is a limited liability company incorporated and domiciled in the United Kingdom on 30 April 2016.  The address of the registered office and the registration number is shown on the company information page.  The financial statements are prepared in Sterling (£).  
The principal activity of the company is that of the sale of hydraulic testing equipment.   

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
HYDRAJAWS (US) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
HYDRAJAWS (US) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
HYDRAJAWS (US) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Debtors

2023
2022
£
£


Trade debtors
13,304
24,209



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
41,652
81,663



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
10,380
65,606

Corporation tax
-
10,564

10,380
76,170



7.


Related party transactions

During the period the company purchased £58,084 (2022: £35,506) of goods from Hydrajaws Limited, a fellow subsidiary company.  At the period end, there is a creditor due to Hydrajaws Limited of £10,380 (2022: £25,606).
At the period end there is a creditor due to Hydrajaws Holdings Limited, the parent undertaking of £Nil (2022: £40,000).


8.


Controlling party

The ultimate parent undertaking is Hydrajaws Holdings Limited, registered office 73 Kettlebrook Road, Tamworth, Staffordshire, B77 1AG.

 
Page 5