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REGISTERED NUMBER: 04871030 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Pearce Hydraulics Limited

Pearce Hydraulics Limited (Registered number: 04871030)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Pearce Hydraulics Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: M A Pearce





SECRETARY: Mrs N M Pearce





REGISTERED OFFICE: Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST





REGISTERED NUMBER: 04871030 (England and Wales)





ACCOUNTANTS: Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST

Pearce Hydraulics Limited (Registered number: 04871030)

Statement of Financial Position
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 86,157 72,265
86,157 72,265

CURRENT ASSETS
Inventories 2,000 2,000
Debtors 6 71,229 49,423
Investments 7 40,000 40,000
Cash at bank 84,024 173,868
197,253 265,291
CREDITORS
Amounts falling due within one year 8 119,706 88,040
NET CURRENT ASSETS 77,547 177,251
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,704

249,516

PROVISIONS FOR LIABILITIES 20,539 13,730
NET ASSETS 143,165 235,786

Pearce Hydraulics Limited (Registered number: 04871030)

Statement of Financial Position - continued
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 143,065 235,686
SHAREHOLDERS' FUNDS 143,165 235,786

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 3 December 2024 and were signed by:





M A Pearce - Director


Pearce Hydraulics Limited (Registered number: 04871030)

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

1. STATUTORY INFORMATION

Pearce Hydraulics Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
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.

Pearce Hydraulics Limited (Registered number: 04871030)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

Pearce Hydraulics Limited (Registered number: 04871030)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 30,000
AMORTISATION
At 1 September 2023
and 31 August 2024 30,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 27,223 2,759 166,369 9,121 205,472
Additions 5,000 - 80,957 - 85,957
Disposals - - (74,812 ) - (74,812 )
At 31 August 2024 32,223 2,759 172,514 9,121 216,617
DEPRECIATION
At 1 September 2023 15,930 1,929 109,878 5,470 133,207
Charge for year 3,259 166 23,337 1,205 27,967
Eliminated on disposal - - (30,714 ) - (30,714 )
At 31 August 2024 19,189 2,095 102,501 6,675 130,460
NET BOOK VALUE
At 31 August 2024 13,034 664 70,013 2,446 86,157
At 31 August 2023 11,293 830 56,491 3,651 72,265

Pearce Hydraulics Limited (Registered number: 04871030)

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

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 17,000
DEPRECIATION
At 1 September 2023 14,311
Charge for year 672
At 31 August 2024 14,983
NET BOOK VALUE
At 31 August 2024 2,017
At 31 August 2023 2,689

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 70,202 48,396
Prepayments 1,027 1,027
71,229 49,423

7. CURRENT ASSET INVESTMENTS
31.8.24 31.8.23
£    £   
Other 40,000 40,000

Pearce Hydraulics Limited (Registered number: 04871030)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 44,796 16,940
Tax 48,726 48,270
Social security and other taxes 1,225 1,619
VAT 30,129 20,542
Other creditors 423 557
Net wages (7,338 ) -
Directors' current accounts 1,745 112
119,706 88,040

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 September 2023 235,686
Profit for the year 167,379
Dividends (260,000 )
At 31 August 2024 143,065

Pearce Hydraulics Limited (Registered number: 04871030)

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

11. RELATED PARTY DISCLOSURES

M A Pearce
Director

During the year the company entered into the following transactions with the director:
2024 2023

Dividends paid 130,000 85,000

Use of residence as office 520 520

Capital introduced 1,633 -

Capital withdrawn - 40

At the year end the amount due to the director was £1,745 (2023 - £112).

Bell Hill Properties Limited
A company in which the director holds shares.

During the year the company entered into the following transactions with Bell Hill Properties Limited:

2024 2023

Rent paid 8,500 8,643

12. ULTIMATE CONTROLLING PARTY

The controlling party is M A Pearce.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Pearce Hydraulics Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pearce Hydraulics Limited for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Pearce Hydraulics Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pearce Hydraulics Limited and state those matters that we have agreed to state to the director of Pearce Hydraulics Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pearce Hydraulics Limited and its director for our work or for this report.

It is your duty to ensure that Pearce Hydraulics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pearce Hydraulics Limited. You consider that Pearce Hydraulics 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 financial statements of Pearce Hydraulics 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 financial statements.






Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST


Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Pearce Hydraulics Limited


Date: .............................................