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REGISTERED NUMBER: SC148737 (Scotland)












Financial Statements

for the Year Ended 31 March 2024

for

Brimac Hydraulics Ltd.

Brimac Hydraulics Ltd. (Registered number: SC148737)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Brimac Hydraulics Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B R MacGlade
Mrs L A MacGlade
Ms A Woodcock





REGISTERED OFFICE: 1 James Watt Place
College Milton North
East Kilbride
Lanarkshire
G74 5HG





REGISTERED NUMBER: SC148737 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Brimac Hydraulics Ltd. (Registered number: SC148737)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 9,310 13,610

CURRENT ASSETS
Inventories 1,500 1,500
Debtors 5 9,677 14,050
Cash at bank 14,779 21,260
25,956 36,810
CREDITORS
Amounts falling due within one year 6 19,537 20,886
NET CURRENT ASSETS 6,419 15,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,729

29,534

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 15,629 29,434
SHAREHOLDERS' FUNDS 15,729 29,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Brimac Hydraulics Ltd. (Registered number: SC148737)

Statement of Financial Position - continued
31 March 2024


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 26 July 2024 and were signed on its behalf by:





B R MacGlade - Director


Brimac Hydraulics Ltd. (Registered number: SC148737)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Brimac Hydraulics Ltd. is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 4% on cost
Improvements to property - 15% on reducing balance
Plant & equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Inventories
Inventories 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 statement of financial position date.


Brimac Hydraulics Ltd. (Registered number: SC148737)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant &
property property equipment
£    £    £   
COST
At 1 April 2023 62,517 6,433 38,278
Additions - - 324
At 31 March 2024 62,517 6,433 38,602
DEPRECIATION
At 1 April 2023 59,918 6,150 32,108
Charge for year 2,500 42 958
At 31 March 2024 62,418 6,192 33,066
NET BOOK VALUE
At 31 March 2024 99 241 5,536
At 31 March 2023 2,599 283 6,170

Brimac Hydraulics Ltd. (Registered number: SC148737)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 4,685 36,519 148,432
Additions - - 324
At 31 March 2024 4,685 36,519 148,756
DEPRECIATION
At 1 April 2023 4,529 32,117 134,822
Charge for year 24 1,100 4,624
At 31 March 2024 4,553 33,217 139,446
NET BOOK VALUE
At 31 March 2024 132 3,302 9,310
At 31 March 2023 156 4,402 13,610

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,677 14,050

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,423 7,108
Taxation and social security 6,416 8,766
Other creditors 8,698 5,012
19,537 20,886