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Registration number: 04464937

Antech Hydraulics Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Antech Hydraulics Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Antech Hydraulics Ltd

Company Information

Director

Mr A C Newell

Registered office

Cocker Avenue
Poulton Industrial Estate
Poulton le Fylde
Lancashire
FY6 8JU

Accountants

Red Dot Accountants Ltd
Chartered Accountants
15 Olympic Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Antech Hydraulics Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Antech Hydraulics Ltd for the year ended 31 December 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Antech Hydraulics Ltd, as a body, in accordance with the terms of our engagement letter dated 8 March 2013. Our work has been undertaken solely to prepare for your approval the accounts of Antech Hydraulics Ltd and state those matters that we have agreed to state to the Board of Directors of Antech Hydraulics Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Antech Hydraulics Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Antech Hydraulics Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Antech Hydraulics Ltd. You consider that Antech Hydraulics Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Antech Hydraulics Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Red Dot Accountants Ltd
Chartered Accountants
15 Olympic Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

19 August 2024

 

Antech Hydraulics Ltd

(Registration number: 04464937)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

7,295

7,981

Current assets

 

Stocks

6

277,501

269,644

Debtors

7

36,430

93,220

Cash at bank and in hand

 

26,677

252,143

 

340,608

615,007

Creditors: Amounts falling due within one year

8

(92,746)

(356,432)

Net current assets

 

247,862

258,575

Total assets less current liabilities

 

255,157

266,556

Provisions for liabilities

(1,386)

(1,516)

Net assets

 

253,771

265,040

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

253,671

264,940

Shareholders' funds

 

253,771

265,040

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 August 2024
 

.........................................
Mr A C Newell
Director

 

Antech Hydraulics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Cocker Avenue
Poulton Industrial Estate
Poulton le Fylde
Lancashire
FY6 8JU
England

These financial statements were authorised for issue by the director on 19 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are converted to sterling at the exchange rate prevailing at the transaction date. Any change in exchange rates between the transaction date and payment date are charged or credited to profit and loss as they arise.

Balances held in foreign currencies at the year end are converted into sterling at the exchange rate applicable at that date.

 

Antech Hydraulics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises income tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% on reducing balance

Computer equipment

25% on cost

Fixtures & fittings

15% on cost

Leasehold Improvements

10% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently reviewed forl impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Antech Hydraulics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 5).

 

Antech Hydraulics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

31,979

31,979

At 31 December 2023

31,979

31,979

Amortisation

At 1 January 2023

31,979

31,979

At 31 December 2023

31,979

31,979

Carrying amount

At 31 December 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

17,676

54,698

17,995

90,369

Additions

-

1,675

-

1,675

At 31 December 2023

17,676

56,373

17,995

92,044

Depreciation

At 1 January 2023

15,973

51,304

15,111

82,388

Charge for the year

170

1,614

577

2,361

At 31 December 2023

16,143

52,918

15,688

84,749

Carrying amount

At 31 December 2023

1,533

3,455

2,307

7,295

At 31 December 2022

1,703

3,394

2,884

7,981

Included within the net book value of land and buildings above is £1,533 (2022 - £1,703) in respect of short leasehold land and buildings.
 

6

Stocks

2023
£

2022
£

Other inventories

277,501

269,644

 

Antech Hydraulics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

28,281

66,825

Prepayments

2,307

4,864

Other debtors

5,842

21,531

 

36,430

93,220

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

-

6,587

Trade creditors

 

76,919

121,352

Taxation and social security

 

4,261

32,946

Accruals and deferred income

 

10,571

1,150

Other creditors

 

995

194,397

 

92,746

356,432

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100