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REGISTERED NUMBER: 02967175 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Axis Hydraulics Ltd

Axis Hydraulics Ltd (Registered number: 02967175)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Axis Hydraulics Ltd (Registered number: 02967175)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 83,269 48,622

CURRENT ASSETS
Stocks 35,845 134,297
Debtors 5 1,256,114 878,391
Cash at bank and in hand 111,812 308,210
1,403,771 1,320,898
CREDITORS
Amounts falling due within one year 6 509,395 369,579
NET CURRENT ASSETS 894,376 951,319
TOTAL ASSETS LESS CURRENT LIABILITIES 977,645 999,941

PROVISIONS FOR LIABILITIES 15,893 6,909
NET ASSETS 961,752 993,032

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 960,752 992,032
SHAREHOLDERS' FUNDS 961,752 993,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





Mr T W Bebbington - Director


Axis Hydraulics Ltd (Registered number: 02967175)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Axis Hydraulics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02967175

Registered office: Unit 705 Centre 500
Lowfields Drive
Wolstanton
Newcastle-under-Lyme
Staffordshire
ST5 0UU

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks 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 Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Axis Hydraulics Ltd (Registered number: 02967175)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 63,553 25,011 10,692
Additions - 41,264 10,697
Disposals - - -
At 30 September 2024 63,553 66,275 21,389
DEPRECIATION
At 1 October 2023 63,382 24,605 10,456
Charge for year 43 10,519 1,753
Eliminated on disposal - - -
At 30 September 2024 63,425 35,124 12,209
NET BOOK VALUE
At 30 September 2024 128 31,151 9,180
At 30 September 2023 171 406 236

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 76,635 42,925 218,816
Additions 11,250 1,944 65,155
Disposals (8,735 ) - (8,735 )
At 30 September 2024 79,150 44,869 275,236
DEPRECIATION
At 1 October 2023 28,902 42,849 170,194
Charge for year 13,824 684 26,823
Eliminated on disposal (5,050 ) - (5,050 )
At 30 September 2024 37,676 43,533 191,967
NET BOOK VALUE
At 30 September 2024 41,474 1,336 83,269
At 30 September 2023 47,733 76 48,622

Axis Hydraulics Ltd (Registered number: 02967175)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 520,338 303,201
Amounts owed by group undertakings 717,528 548,029
Other debtors 18,248 27,161
1,256,114 878,391

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 366,629 310,753
Amounts owed to group undertakings 24,360 -
Taxation and social security 112,211 53,281
Other creditors 6,195 5,545
509,395 369,579

7. OTHER FINANCIAL COMMITMENTS

Other financial commitments not listed on the balance sheet amount to £153,000 (2023; £191,250). This represents a lease ending September 2028.

8. ULTIMATE CONTROLLING PARTY

The controlling party is AV Hyd Holdings Limited.

The ultimate controlling parties are J Bebbington and LA Bebbington.