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Registration number: 01963171

Oddy Hydraulics Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Oddy Hydraulics Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Oddy Hydraulics Limited

Company Information

Directors

Mrs Justine Mace

Mr Luke Murphy

Company secretary

Mrs Justine Mace

Registered office

Unit 4 Gelderd Trading Estate
West Vale
Leeds
LS12 6BD

Accountants

Hawley Business Solutions Limited
Certified
17 Healey Wood Crescent
Brighouse
HD6 3RP

 

Oddy Hydraulics Limited

(Registration number: 01963171)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

183,621

231,321

Current assets

 

Stocks

6

369,810

388,935

Debtors

7

455,439

505,216

Cash at bank and in hand

 

282,627

108,326

 

1,107,876

1,002,477

Creditors: Amounts falling due within one year

8

(383,372)

(321,015)

Net current assets

 

724,504

681,462

Total assets less current liabilities

 

908,125

912,783

Creditors: Amounts falling due after more than one year

8

(8,333)

(28,333)

Provisions for liabilities

(34,886)

(43,950)

Net assets

 

864,906

840,500

Capital and reserves

 

Called up share capital

9

10

10

Capital redemption reserve

90

90

Retained earnings

864,806

840,400

Shareholders' funds

 

864,906

840,500

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.

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 

.........................................
Mrs Justine Mace
Company secretary and director

 

Oddy Hydraulics 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.

The address of its registered office is:
Unit 4 Gelderd Trading Estate
West Vale
Leeds
LS12 6BD
England

These financial statements were authorised for issue by the Board on 22 April 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

The financial statements have been prepared on a going concern basis.

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.

 

Oddy Hydraulics Limited

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

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 & machinery

10% straight line

Fixtures & fittings

20% straight line

Motor vehicles

25% reducing balance

Equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Oddy Hydraulics Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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 15 (2024 - 15).

 

Oddy Hydraulics Limited

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

4

Profit/loss before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

49,762

54,197

 

Oddy Hydraulics Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

533,809

56,168

589,977

Additions

2,062

-

2,062

At 31 March 2025

535,871

56,168

592,039

Depreciation

At 1 April 2024

321,185

37,471

358,656

Charge for the year

45,087

4,675

49,762

At 31 March 2025

366,272

42,146

408,418

Carrying amount

At 31 March 2025

169,599

14,022

183,621

At 31 March 2024

212,624

18,697

231,321

6

Stocks

2025
£

2024
£

Other inventories

369,810

388,935

7

Debtors

Current

2025
£

2024
£

Trade debtors

413,413

456,790

Prepayments

37,955

35,423

Other debtors

4,071

13,003

 

455,439

505,216

8

Creditors

Creditors: amounts falling due within one year

 

Oddy Hydraulics Limited

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

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

20,000

20,000

Trade creditors

 

259,664

241,777

Taxation and social security

 

63,996

52,004

Accruals and deferred income

 

35,615

3,465

Other creditors

 

4,097

3,769

 

383,372

321,015

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10

8,333

28,333

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

10

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

8,333

28,333

Current loans and borrowings

2025
£

2024
£

Bank borrowings

20,000

20,000

11

Related party transactions

 

Oddy Hydraulics Limited

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

Transactions with directors

 

Oddy Hydraulics Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

115,250

47,375

Contributions paid to money purchase schemes

9,157

6,000

124,407

53,375