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Company registration number: 05517503
Central Hydraulics (Stoke) Ltd
Unaudited filleted financial statements
31 August 2024
Central Hydraulics (Stoke) Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Central Hydraulics (Stoke) Ltd
Statement of financial position
31st August 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 47,102 38,297
_______ _______
47,102 38,297
Current assets
Debtors 6 108,766 152,578
Cash at bank and in hand 841,708 672,016
_______ _______
950,474 824,594
Creditors: amounts falling due
within one year 7 ( 169,008) ( 171,022)
_______ _______
Net current assets 781,466 653,572
_______ _______
Total assets less current liabilities 828,568 691,869
Provisions for liabilities ( 11,776) ( 9,426)
_______ _______
Net assets 816,792 682,443
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 816,692 682,343
_______ _______
Shareholders funds 816,792 682,443
_______ _______
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
Mr A L Copeland Mr M Hayward
Director Director
Company registration number: 05517503
Central Hydraulics (Stoke) Ltd
Statement of changes in equity
Year ended 31st August 2024
Called up share capital Profit and loss account Total
£ £ £
At 1st September 2022 100 545,739 545,839
Profit for the year 276,604 276,604
_______ _______ _______
Total comprehensive income for the year - 276,604 276,604
Dividends paid and payable ( 140,000) ( 140,000)
_______ _______ _______
Total investments by and distributions to owners - ( 140,000) ( 140,000)
_______ _______ _______
At 31st August 2023 and 1st September 2023 100 682,343 682,443
Profit for the year 274,349 274,349
_______ _______ _______
Total comprehensive income for the year - 274,349 274,349
Dividends paid and payable ( 140,000) ( 140,000)
_______ _______ _______
Total investments by and distributions to owners - ( 140,000) ( 140,000)
_______ _______ _______
At 31st August 2024 100 816,692 816,792
_______ _______ _______
Central Hydraulics (Stoke) Ltd
Notes to the financial statements
Year ended 31st August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Meir Street, Tunstall, Stoke-on-Trent, Staffordshire, ST6 6DD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 5 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1st September 2023 36,226 7,881 41,270 85,377
Additions 4,166 463 26,707 31,336
Disposals - - ( 17,970) ( 17,970)
_______ _______ _______ _______
At 31st August 2024 40,392 8,344 50,007 98,743
_______ _______ _______ _______
Depreciation
At 1st September 2023 26,829 6,145 14,108 47,082
Charge for the year 1,505 291 11,046 12,842
Disposals - - ( 8,283) ( 8,283)
_______ _______ _______ _______
At 31st August 2024 28,334 6,436 16,871 51,641
_______ _______ _______ _______
Carrying amount
At 31st August 2024 12,058 1,908 33,136 47,102
_______ _______ _______ _______
At 31st August 2023 9,397 1,736 27,162 38,295
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 105,316 149,725
Other debtors 3,450 2,853
_______ _______
108,766 152,578
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 42,362 57,938
Corporation tax 89,216 73,651
Social security and other taxes 34,591 38,043
Other creditors 2,839 1,390
_______ _______
169,008 171,022
_______ _______
8. Capital and financial commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £9,167 (2023: £19,167). These amounts relate to building leases.