Company Registration No. 01121372 (England and Wales)
Control Gear Limited
Unaudited accounts
for the year ended 30 April 2024
Control Gear Limited
Unaudited accounts
Contents
Control Gear Limited
Company Information
for the year ended 30 April 2024
Directors
G Bevan
S Holder
Company Number
01121372 (England and Wales)
Registered Office
Heol Groeswen
Treforest Industrial Estate
Pontypridd
CF37 5YF
Accountants
R H Jeffs & Rowe Ltd
27-28 Gelliwastad Road
Pontypridd
CF37 2BW
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Control Gear Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Control Gear Limited for the year ended
30 April 2024 as set out on pages
5 -
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 icaew.com/membershandbook.
This report is made solely to the Board of Directors of Control Gear Limited, as a body, in accordance with the terms of our engagement letter dated 30 June 2016. Our work has been undertaken solely to prepare for your approval the accounts of Control Gear Limited and state those matters that we have agreed to state to the Board of Directors of Control Gear Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Control Gear Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Control Gear Limited 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 Control Gear Limited. You consider that Control Gear Limited 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 Control Gear Limited. 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.
R H Jeffs & Rowe Ltd
Chartered Accountants
27-28 Gelliwastad Road
Pontypridd
CF37 2BW
11 November 2024
Control Gear Limited
Statement of financial position
as at 30 April 2024
Intangible assets
8,212
1,965
Tangible assets
636,115
644,352
Cash at bank and in hand
17,510
16,085
Creditors: amounts falling due within one year
(8,034)
(7,375)
Net current assets
59,876
61,510
Net assets
705,345
708,960
Called up share capital
2,571
2,571
Revaluation reserve
578,415
578,415
Profit and loss account
124,359
127,974
Shareholders' funds
705,345
708,960
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by
G Bevan
Director
Company Registration No. 01121372
Control Gear Limited
Notes to the Accounts
for the year ended 30 April 2024
Control Gear Limited is a private company, limited by shares, registered in England and Wales, registration number 01121372. The registered office is Heol Groeswen, Treforest Industrial Estate, Pontypridd, CF37 5YF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Control Gear Limited
Notes to the Accounts
for the year ended 30 April 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2023
858,866
33,155
41,883
30,200
964,104
At 30 April 2024
858,866
33,155
41,883
30,200
964,104
At 1 May 2023
214,514
33,155
41,883
30,200
319,752
Charge for the year
8,237
-
-
-
8,237
At 30 April 2024
222,751
33,155
41,883
30,200
327,989
At 30 April 2024
636,115
-
-
-
636,115
At 30 April 2023
644,352
-
-
-
644,352
6
Investments
Subsidiary undertakings
Valuation at 1 May 2023
1,133
Valuation at 30 April 2024
1,142
The company holds an interest in the ordinary share capital of the following companies:
Control Gear Fluid Power Ltd - 100%
Control Gear (Group) Ltd - 100%
Control Gear (Filtration) Ltd - 40%
Control Gear (Hydraulics) Ltd - 91%
Powergear (Spray & Air) Ltd - 12%
The companies are all registered in England & Wales
Control Gear Limited
Notes to the Accounts
for the year ended 30 April 2024
Amounts falling due within one year
Amounts due from group undertakings etc.
50,400
52,800
8
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
7,614
7,375
9
Transactions with related parties
The directors hold positions as directors of other related companies. These companies do not form a group as defined by company legislation and consolidated financial statements are not prepared.
During the year, the Company traded with these related companies on normal terms. It also rendered or received services and provided or received financial support:-
(a) The amount due to or from these related companies at the Balance Sheet date are shown in notes the debtors and creditors notes to the financial statements.
(b) The Company has given guarantees in respect of the bank borrowings of the following related companies:-
Control Gear (Filtration) Limited
Control Gear Fluid Power Limited
Control Gear (Group) Limited
Control Gear (Hydraulics) Limited
ControlGear (Weldex) Limited
Powergear Spray & Air Limited
Secure Winner Limited
The directors are of the opinion that no liabilities will materialise under these guarantees.
(c) Where related companies share trading premises, rent and charges for the provision of services is paid or received where appropriate.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).