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Registration number: NI621136

ISO Hydraulics Limited

Unaudited Filleted Financial Statements

for the Period from 1 October 2024 to 31 March 2025

 

ISO Hydraulics Limited

(Registration number: NI621136)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Current assets

 

Debtors

5

100

-

Cash at bank and in hand

 

-

9,785

 

100

9,785

Creditors: Amounts falling due within one year

6

-

(62,996)

Net assets/(liabilities)

 

100

(53,211)

Capital and reserves

 

Called up share capital

7

53,411

100

Retained earnings

(53,311)

(53,311)

Shareholders' funds/(deficit)

 

100

(53,211)

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2025 and signed on its behalf by:
 

.........................................
Mr Joseph Cassidy
Director

.........................................
Mr James Murray
Director

 
     
 

ISO Hydraulics Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 March 2025

1

General information

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

The address of its registered office is: 37 Ballymacpeake Road, Portglenone, Ballymena, County Antrim, BT44 8LW.

These financial statements were authorised for issue by the Board on 30 June 2025.

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 in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Turnover is recognised at the point of delivery and customer acceptance of the goods, at which point the risk and benefits of ownership have passed to the customer.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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

Computer equipment

20% reducing balance basis

Fixtures and fittings

20% reducing balance basis

 

ISO Hydraulics Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 March 2025

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2024 - 2).

 

ISO Hydraulics Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2024

5,566

10,035

15,601

Disposals

(5,566)

(10,035)

(15,601)

At 31 March 2025

-

-

-

Depreciation

At 1 October 2024

5,566

10,035

15,601

Eliminated on disposal

(5,566)

(10,035)

(15,601)

At 31 March 2025

-

-

-

Carrying amount

At 31 March 2025

-

-

-

5

Debtors

2025
£

2024
£

Other debtors

100

-

 

100

-

6

Creditors: due within one year

2025
£

2024
£

Loans and borrowings

-

6,001

Accruals and deferred income

-

1,800

Other creditors

-

55,195

-

62,996

 

ISO Hydraulics Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 March 2025

7

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary shares of £1 each

53,411

53,411

100

100