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Company No: 02507683 (England and Wales)

APPROVED HYDRAULICS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

APPROVED HYDRAULICS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

APPROVED HYDRAULICS LIMITED

BALANCE SHEET

As at 30 April 2025
APPROVED HYDRAULICS LIMITED

BALANCE SHEET (continued)

As at 30 April 2025
Note 2025 2024
£ £
Fixed assets
Intangible assets 3 2,484 3,199
Tangible assets 4 17,702 20,675
20,186 23,874
Current assets
Stocks 1,320,846 1,216,472
Debtors 5 820,790 937,291
Cash at bank and in hand 580,388 628,268
2,722,024 2,782,031
Creditors: amounts falling due within one year 6 ( 1,001,763) ( 1,125,966)
Net current assets 1,720,261 1,656,065
Total assets less current liabilities 1,740,447 1,679,939
Provision for liabilities ( 3,448) ( 4,203)
Net assets 1,736,999 1,675,736
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 1,736,899 1,675,636
Total shareholders' funds 1,736,999 1,675,736

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Approved Hydraulics Limited (registered number: 02507683) were approved and authorised for issue by the Board of Directors on 08 August 2025. They were signed on its behalf by:

G Hindle
Director
APPROVED HYDRAULICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
APPROVED HYDRAULICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Approved Hydraulics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom and is registered in England and Wales. The address of the Company's registered office is Unit 1 Avery Trading Estate, Kenwood Road, Stockport, SK5 6PH, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
* the Company has transferred the significant risks and rewards of ownership to the buyer;
* the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the transaction; and
* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Computer software 25 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 16

3. Intangible assets

Goodwill Computer software Total
£ £ £
Cost
At 01 May 2024 60,000 9,900 69,900
At 30 April 2025 60,000 9,900 69,900
Accumulated amortisation
At 01 May 2024 60,000 6,701 66,701
Charge for the financial year 0 715 715
At 30 April 2025 60,000 7,416 67,416
Net book value
At 30 April 2025 0 2,484 2,484
At 30 April 2024 0 3,199 3,199

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2024 34,616 2,223 38,691 75,530
Additions 1,700 0 0 1,700
At 30 April 2025 36,316 2,223 38,691 77,230
Accumulated depreciation
At 01 May 2024 22,300 2,022 30,533 54,855
Charge for the financial year 2,805 46 1,822 4,673
At 30 April 2025 25,105 2,068 32,355 59,528
Net book value
At 30 April 2025 11,211 155 6,336 17,702
At 30 April 2024 12,316 201 8,158 20,675

5. Debtors

2025 2024
£ £
Trade debtors 644,369 505,242
Prepayments 112,430 75,858
Other debtors 63,991 356,191
820,790 937,291

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 450,356 660,767
Accruals 156,380 15,818
Taxation and social security 338,986 382,412
Other creditors 56,041 66,969
1,001,763 1,125,966

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
80 Ordinary shares of £ 1.00 each 80 80
20 A Ordinary shares of £ 1.00 each 20 20
100 100

All shares rank pari passu in all respects.

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 37,491 43,132
between one and five years 16,040 30,000
53,531 73,132

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2025 2024
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,031 1,863