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REGISTERED NUMBER: 08410483 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PO HYDRAULICS LTD

PO HYDRAULICS LTD (REGISTERED NUMBER: 08410483)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PO HYDRAULICS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr D G Smith





REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU





REGISTERED NUMBER: 08410483 (England and Wales)

PO HYDRAULICS LTD (REGISTERED NUMBER: 08410483)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 74,026 72,668

CURRENT ASSETS
Stocks 5 73,780 99,183
Debtors 6 276,520 243,855
Cash at bank and in hand 31,116 28,303
381,416 371,341
CREDITORS
Amounts falling due within one year 7 194,386 188,394
NET CURRENT ASSETS 187,030 182,947
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,056

255,615

CREDITORS
Amounts falling due after more than one
year

8

(27,233

)

(36,860

)

PROVISIONS FOR LIABILITIES 11 (15,679 ) (12,830 )
NET ASSETS 218,144 205,925

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 218,143 205,924
SHAREHOLDERS' FUNDS 218,144 205,925

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

PO HYDRAULICS LTD (REGISTERED NUMBER: 08410483)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 March 2024 and were signed by:





Mr D G Smith - Director


PO HYDRAULICS LTD (REGISTERED NUMBER: 08410483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

PO Hydraulics Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice.

The company supplies products to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% on cost
Motor vehicles - 20% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 15% on cost

Stocks
Stocks 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 balance sheet date.


PO HYDRAULICS LTD (REGISTERED NUMBER: 08410483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 balance sheet 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 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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.

Creditors
Short term trade 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

PO HYDRAULICS LTD (REGISTERED NUMBER: 08410483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 11,244 483 96,230 22,004 129,961
Additions - - 30,424 - 30,424
At 31 December 2023 11,244 483 126,654 22,004 160,385
DEPRECIATION
At 1 January 2023 5,622 37 36,242 15,392 57,293
Charge for year 1,687 73 24,631 2,675 29,066
At 31 December 2023 7,309 110 60,873 18,067 86,359
NET BOOK VALUE
At 31 December 2023 3,935 373 65,781 3,937 74,026
At 31 December 2022 5,622 446 59,988 6,612 72,668

5. STOCKS
2023 2022
£    £   
Closing stock 73,780 99,183

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 189,276 173,365
Other debtors 87,244 70,490
276,520 243,855

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,288 9,928
Hire purchase contracts (see note 9) 11,235 5,735
Trade creditors 99,269 112,783
Taxation and social security 56,861 37,961
Other creditors 16,733 21,987
194,386 188,394

PO HYDRAULICS LTD (REGISTERED NUMBER: 08410483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,609 24,912
Hire purchase contracts (see note 9) 12,624 11,948
27,233 36,860

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 11,235 5,735
Between one and five years 12,624 11,948
23,859 17,683

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 23,859 17,683

Hire purchase contracts are secured upon the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 15,679 12,830

Deferred
tax
£   
Balance at 1 January 2023 12,830
Movement in year 2,849
Balance at 31 December 2023 15,679

PO HYDRAULICS LTD (REGISTERED NUMBER: 08410483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. ULTIMATE PARENT UNDERTAKING

The ultimate parent undertaking of the company is DGS Hydraulics Limited. The registered office of DGS Hydraulics Limited is Granville Hall, Granville Road, Leicester, LE1 7R and the principal place of business is Unit 3, Newchase Business Park, Shaftesbury Street, Derby, DE23 8YB.

The company is the subsidiary undertaking of a small group and as such is not required by the companies Act 2006 to prepare group accounts.