IRIS Accounts Production v24.1.0.578 02939483 Board of Directors 1.9.22 31.8.23 31.8.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh029394832022-08-31029394832023-08-31029394832022-09-012023-08-31029394832021-08-31029394832021-09-012022-08-31029394832022-08-3102939483ns15:EnglandWales2022-09-012023-08-3102939483ns14:PoundSterling2022-09-012023-08-3102939483ns10:Director12022-09-012023-08-3102939483ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3102939483ns10:SmallEntities2022-09-012023-08-3102939483ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3102939483ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3102939483ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3102939483ns10:FullAccounts2022-09-012023-08-3102939483ns10:OrdinaryShareClass12022-09-012023-08-3102939483ns10:Director22022-09-012023-08-3102939483ns10:Director52022-09-012023-08-3102939483ns10:CompanySecretary12022-09-012023-08-3102939483ns10:RegisteredOffice2022-09-012023-08-3102939483ns5:CurrentFinancialInstruments2023-08-3102939483ns5:CurrentFinancialInstruments2022-08-3102939483ns5:ShareCapital2023-08-3102939483ns5:ShareCapital2022-08-3102939483ns5:RetainedEarningsAccumulatedLosses2023-08-3102939483ns5:RetainedEarningsAccumulatedLosses2022-08-3102939483ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3102939483ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3102939483ns5:Non-currentFinancialInstruments2023-08-3102939483ns5:Non-currentFinancialInstruments2022-08-3102939483ns10:OrdinaryShareClass12023-08-31
REGISTERED NUMBER: 02939483 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

PRESSURE DESIGN HYDRAULICS LIMITED

PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESSURE DESIGN HYDRAULICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr D M Penty
Mr J H D Penty
Mr W A C Hamilton



SECRETARY: Mr D M Penty



REGISTERED OFFICE: Commercial Road
Goldthorpe Industrial Estate
Rotherham
South Yorkshire
S63 9BL



REGISTERED NUMBER: 02939483 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: National Westminster Bank Plc
Bank Street
Mexborough
Doncaster
South Yorkshire
S64 9QE

PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £   
CURRENT ASSETS
Stocks 4 572,004 533,148
Debtors 5 2,135,060 910,193
Cash at bank and in hand 3,492 463,112
2,710,556 1,906,453
CREDITORS
Amounts falling due within one year 6 1,162,614 506,822
NET CURRENT ASSETS 1,547,942 1,399,631
TOTAL ASSETS LESS CURRENT LIABILITIES 1,547,942 1,399,631

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,547,842 1,399,531
SHAREHOLDERS' FUNDS 1,547,942 1,399,631

PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483)

BALANCE SHEET - continued
31 AUGUST 2023


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 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.

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 Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





Mr J H D Penty - Director


PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483)

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

1. STATUTORY INFORMATION

Pressure Design 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities withing the next financial year.

PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Sale of goods-

Turnover from the sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services-

When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to time spent on a job by comparison with the estimated total time required.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483)

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 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.

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 24 (2022 - 25 ) .

4. STOCKS
31.8.23 31.8.22
£    £   
Hydraulic parts 572,004 533,148

5. DEBTORS
31.8.23 31.8.22
£    £   
Amounts falling due within one year:
Trade debtors 782,022 604,335
Amounts recoverable on contract 421,759 198,315
Other debtors 85,000 85,000
Prepayments and accrued income 31,279 22,543
1,320,060 910,193

Amounts falling due after more than one year:
Amounts owed by group undertakings 815,000 -

Aggregate amounts 2,135,060 910,193

PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Payments on account 550,695 108,824
Trade creditors 262,723 258,051
Corporation tax 69,984 47,344
Social security and other taxes 18,078 16,996
VAT 67,391 53,409
Other creditors 5,075 5,074
Accruals and deferred income 188,668 17,124
1,162,614 506,822

7. CALLED UP SHARE CAPITAL

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

8. RELATED PARTY DISCLOSURES

31.08.23 31.08.22
£ £
Amounts due from related parties 85,000 85,000

9. ULTIMATE PARENT COMPANY

The parent undertaking of the smallest group within which Pressure Design Hydraulics Limited belongs is headed by Pressure Design & Engineering Limited.

The directors consider the ultimate parent undertaking of the company is Pressure Design Automation Ltd.

The ultimate parent company's registered office address is;

Commercial Road
Goldthorpe Industrial Estate
Goldthorpe
Rotherham
South Yorkshire
S63 9BL