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Registered number: 03961705
Industrial Hydraulic Services Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
MAR Kilshaw Limited
99 Stanley Road
Bootle
Liverpool
Merseyside
L20 7DA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03961705
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 108,836 100,425
108,836 100,425
CURRENT ASSETS
Debtors 5 645,660 568,309
Cash at bank and in hand 105,684 188,929
751,344 757,238
Creditors: Amounts Falling Due Within One Year 6 (309,026 ) (283,052 )
NET CURRENT ASSETS (LIABILITIES) 442,318 474,186
TOTAL ASSETS LESS CURRENT LIABILITIES 551,154 574,611
PROVISIONS FOR LIABILITIES
Deferred Taxation (27,774 ) (24,865 )
NET ASSETS 523,380 549,746
CAPITAL AND RESERVES
Called up share capital 7 202 202
Profit and Loss Account 523,178 549,544
SHAREHOLDERS' FUNDS 523,380 549,746
Page 1
Page 2
For the year ending 31 May 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr I J Thomas
Director
13 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Industrial Hydraulic Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03961705 . The registered office is Unit 43, Brasenose Road,, Bootle, Liverpool,, Merseyside, United Kingdom,, L20 8HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 15% Reducing balance
Computer Equipment 25% Reducing balance
2.4. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 13)
13 13
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 133,913 171,436 62,378 10,763 378,490
Additions 5,995 33,490 - - 39,485
Disposals - (12,700 ) - - (12,700 )
As at 31 May 2024 139,908 192,226 62,378 10,763 405,275
Depreciation
As at 1 June 2023 90,617 121,752 55,694 10,002 278,065
Provided during the period 7,393 20,228 1,003 190 28,814
Disposals - (10,440 ) - - (10,440 )
As at 31 May 2024 98,010 131,540 56,697 10,192 296,439
Net Book Value
As at 31 May 2024 41,898 60,686 5,681 571 108,836
As at 1 June 2023 43,296 49,684 6,684 761 100,425
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 632,301 524,799
Other debtors 13,359 43,510
645,660 568,309
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 215,012 82,234
Other creditors 14,957 6,131
Taxation and social security 79,057 194,687
309,026 283,052
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 202 202
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Ian Thomas 43,510 - 33,006 - 10,504
The above loan is unsecured, interest free and repayable on demand.
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