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REGISTERED NUMBER: 04252297 (England and Wales)





























Unaudited Financial Statements for the Year Ended 31 August 2023

for

Hyde Diecasting Ltd.

Hyde Diecasting Ltd. (Registered number: 04252297)






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


Hyde Diecasting Ltd.

Company Information
for the Year Ended 31 August 2023







DIRECTOR: A D Mitchell



SECRETARY: Mrs C Mitchell



REGISTERED OFFICE: Unit 3 Riverside Works
Stoneholme Industrial Estate
Crawshawbooth
Rossendale
Lancashire
BB4 8BA



REGISTERED NUMBER: 04252297 (England and Wales)



ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY



BANKERS: National Westminster Bank plc.

Hyde Diecasting Ltd. (Registered number: 04252297)

Balance Sheet
31 August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 81,868 70,041

CURRENT ASSETS
Stocks 5 595,000 545,000
Debtors 6 897,756 1,220,667
Cash at bank and in hand 307,702 443,440
1,800,458 2,209,107
CREDITORS
Amounts falling due within one year 7 (383,817 ) (446,659 )
NET CURRENT ASSETS 1,416,641 1,762,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,498,509

1,832,489

PROVISIONS FOR LIABILITIES 8 (20,467 ) (13,308 )
NET ASSETS 1,478,042 1,819,181

CAPITAL AND RESERVES
Called up share capital 9 6 6
Retained earnings 1,478,036 1,819,175
SHAREHOLDERS' FUNDS 1,478,042 1,819,181

Hyde Diecasting Ltd. (Registered number: 04252297)

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 February 2024 and were signed by:





A D Mitchell - Director


Hyde Diecasting Ltd. (Registered number: 04252297)

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

1. STATUTORY INFORMATION

Hyde Diecasting 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.

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 total invoice value, excluding value added tax, of work done during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 12.5% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 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.

Hyde Diecasting Ltd. (Registered number: 04252297)

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

2. ACCOUNTING POLICIES - continued

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 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 70,507 32,766 61,445 7,992 172,710
Additions 15,225 8,842 - 2,135 26,202
At 31 August 2023 85,732 41,608 61,445 10,127 198,912
DEPRECIATION
At 1 September 2022 46,547 9,599 41,463 5,060 102,669
Charge for year 4,247 2,898 4,996 2,234 14,375
At 31 August 2023 50,794 12,497 46,459 7,294 117,044
NET BOOK VALUE
At 31 August 2023 34,938 29,111 14,986 2,833 81,868
At 31 August 2022 23,960 23,167 19,982 2,932 70,041

5. STOCKS
2023 2022
£    £   
Stocks 595,000 545,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 659,231 709,663
Other debtors 3,859 240
Prepayments 234,666 510,764
897,756 1,220,667

Hyde Diecasting Ltd. (Registered number: 04252297)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 115,002 188,850
Amounts owed to group undertakings 29,160 29,805
Tax 55,812 96,534
Net wages control 130 -
Pension control account 959 876
VAT 132,299 114,492
Company credit card 10,157 9,113
Directors' loan accounts 33,903 1,069
Accrued expenses 6,395 5,920
383,817 446,659

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 20,467 13,308

Deferred
tax
£   
Balance at 1 September 2022 13,308
Provided during year 7,159
Balance at 31 August 2023 20,467

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6 Ordinary £1 6 6