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Registration number: 10666256

Penrith Hydraulic Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Penrith Hydraulic Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Penrith Hydraulic Services Limited

(Registration number: 10666256)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

6,000

9,000

Tangible assets

5

57,984

69,250

 

63,984

78,250

Current assets

 

Stocks

6

66,200

60,430

Debtors

7

149,676

140,163

Cash at bank and in hand

 

3,811

23,929

 

219,687

224,522

Creditors: Amounts falling due within one year

8

(261,874)

(201,422)

Net current (liabilities)/assets

 

(42,187)

23,100

Total assets less current liabilities

 

21,797

101,350

Creditors: Amounts falling due after more than one year

8

(45,545)

(92,473)

Provisions for liabilities

(11,130)

(6,567)

Net (liabilities)/assets

 

(34,878)

2,310

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(34,978)

2,210

Shareholders' (deficit)/funds

 

(34,878)

2,310

 

Penrith Hydraulic Services Limited

(Registration number: 10666256)
Balance Sheet as at 31 March 2025

For the financial year 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 year 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 July 2025 and signed on its behalf by:
 

.........................................
Mr M Barnes
Director

.........................................
Mr J R Osborne
Director

 

Penrith Hydraulic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite 2 Beswick
Greenfold Way
Leigh
Manchester
WN7 3XJ

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

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the shareholders that they will continue to give financial support to the company for twelve months from the date of signing these accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 

Penrith Hydraulic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

20% Straight line

Furniture and fittings

20% Straight line

Office equipment

33% Straight line

Motor Vehicles

20% Straight line

 

Penrith Hydraulic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise fee

10% Straight line

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Penrith Hydraulic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 7).

4

Intangible assets

Franchise fee
£

Total
£

Cost or valuation

At 1 April 2024

30,000

30,000

At 31 March 2025

30,000

30,000

Amortisation

At 1 April 2024

21,000

21,000

Amortisation charge

3,000

3,000

At 31 March 2025

24,000

24,000

Carrying amount

At 31 March 2025

6,000

6,000

At 31 March 2024

9,000

9,000

 

Penrith Hydraulic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 April 2024

7,540

131,916

8,569

148,025

Additions

-

-

20,891

20,891

At 31 March 2025

7,540

131,916

29,460

168,916

Depreciation

At 1 April 2024

7,540

62,666

8,569

78,775

Charge for the year

-

30,764

1,393

32,157

At 31 March 2025

7,540

93,430

9,962

110,932

Carrying amount

At 31 March 2025

-

38,486

19,498

57,984

At 31 March 2024

-

69,250

-

69,250

6

Stocks

2025
£

2024
£

Finished goods and goods for resale

66,200

60,430

7

Debtors

Current

2025
£

2024
£

Trade debtors

133,606

114,070

Prepayments

15,232

25,255

Other debtors

838

838

 

149,676

140,163

 

Penrith Hydraulic Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

89,666

86,280

Trade creditors

 

52,276

46,662

Taxation and social security

 

21,811

26,934

Accruals and deferred income

 

40,086

30,385

Other creditors

 

58,035

11,161

 

261,874

201,422

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

45,545

92,473

9

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

At 31 March 2025
£

Mr J R Osborne

Monies owed by the director to the company

838

838

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr J R Osborne

Monies owed by the director to the company

2,838

(2,000)

838

Other transactions with directors