East Midlands Hydraulics Limited 08952426 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is hydraulic engineers Digita Accounts Production Advanced 6.30.9574.0 true 08952426 2023-04-01 2024-03-31 08952426 2024-03-31 08952426 bus:OrdinaryShareClass1 2024-03-31 08952426 core:CurrentFinancialInstruments 2024-03-31 08952426 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08952426 core:Goodwill 2024-03-31 08952426 core:FurnitureFittingsToolsEquipment 2024-03-31 08952426 core:MotorVehicles 2024-03-31 08952426 bus:SmallEntities 2023-04-01 2024-03-31 08952426 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08952426 bus:FilletedAccounts 2023-04-01 2024-03-31 08952426 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08952426 bus:RegisteredOffice 2023-04-01 2024-03-31 08952426 bus:Director1 2023-04-01 2024-03-31 08952426 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08952426 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08952426 core:Goodwill 2023-04-01 2024-03-31 08952426 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 08952426 core:MotorVehicles 2023-04-01 2024-03-31 08952426 core:OfficeEquipment 2023-04-01 2024-03-31 08952426 core:PlantMachinery 2023-04-01 2024-03-31 08952426 countries:England 2023-04-01 2024-03-31 08952426 2023-03-31 08952426 core:Goodwill 2023-03-31 08952426 core:FurnitureFittingsToolsEquipment 2023-03-31 08952426 core:MotorVehicles 2023-03-31 08952426 2022-04-01 2023-03-31 08952426 2023-03-31 08952426 bus:OrdinaryShareClass1 2023-03-31 08952426 core:CurrentFinancialInstruments 2023-03-31 08952426 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08952426 core:Goodwill 2023-03-31 08952426 core:FurnitureFittingsToolsEquipment 2023-03-31 08952426 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08952426

East Midlands Hydraulics Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

East Midlands Hydraulics Limited

(Registration number: 08952426)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

1,700

Tangible assets

5

6,702

6,878

 

6,702

8,578

Current assets

 

Stocks

6

1,500

1,500

Debtors

7

23,191

47,025

Cash at bank and in hand

 

63,049

43,111

 

87,740

91,636

Creditors: Amounts falling due within one year

8

(27,955)

(48,032)

Net current assets

 

59,785

43,604

Total assets less current liabilities

 

66,487

52,182

Provisions for liabilities

(1,273)

(1,307)

Net assets

 

65,214

50,875

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

65,114

50,775

Shareholders' funds

 

65,214

50,875

For the financial year ending 31 March 2024 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 26 November 2024
 

.........................................
Mr Paul Geary
Director

 

East Midlands Hydraulics Limited

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

1

General information

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

The address of its registered office is:
Unit 7 Stanton Court
Quarry Hill Ind Estate
Merlin Way
Ilkeston
Derbyshire
DE7 4RA

These financial statements were authorised for issue by the director on 26 November 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 sales/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.

Tax

The tax expense for the period comprises current 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 in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

East Midlands Hydraulics Limited

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

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% reducing balance

Plant and machinery

20% reducing balance

Office equipment

20% reducing balance

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:

Asset class

Amortisation method and rate

Goodwill

10% straight line

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.

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. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

East Midlands Hydraulics Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

17,000

17,000

At 31 March 2024

17,000

17,000

Amortisation

At 1 April 2023

15,300

15,300

Amortisation charge

1,700

1,700

At 31 March 2024

17,000

17,000

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

1,700

1,700

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

8,478

18,823

27,301

Additions

1,500

-

1,500

At 31 March 2024

9,978

18,823

28,801

Depreciation

At 1 April 2023

5,641

14,782

20,423

Charge for the year

868

808

1,676

At 31 March 2024

6,509

15,590

22,099

Carrying amount

At 31 March 2024

3,469

3,233

6,702

At 31 March 2023

2,837

4,041

6,878

6

Stocks

2024
£

2023
£

Other inventories

1,500

1,500

 

East Midlands Hydraulics Limited

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

7

Debtors

Current

2024
£

2023
£

Trade debtors

23,191

47,025

 

23,191

47,025

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

12,702

31,912

Taxation and social security

9,031

11,630

Accruals and deferred income

2,325

2,075

Other creditors

3,897

2,415

27,955

48,032

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

100

100

100

100