Leicester Hose & Hydraulics Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Leicester Hose & Hydraulics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05503237 . The registered office is Westbury Court Church Road, Westbury-on-Trym, Bristol, BS9 3EF.

The principal place of business is Unit E, Pasture Lane, Leicester, Leicestershire, LE1 4EY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% Straight line
Motor Vehicles	25% Straight line
Fixtures & Fittings	15% Straight line
Computer Equipment	33% Straight line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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Leicester Hose & Hydraulics Limited

Notes to the Financial Statements (continued)

For the Period 31 December 2023 to 31 December 2024

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 4 (2023: 4)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 31 December 2023	6,510	5,225	13,770	1,974	27,479
Additions	-	-	-	139	139

As at 31 December 2024	6,510	5,225	13,770	2,113	27,618

Depreciation
As at 31 December 2023	6,510	5,225	12,273	1,567	25,575
Provided during the period	-	-	1,195	234	1,429

As at 31 December 2024	6,510	5,225	13,468	1,801	27,004

Net Book Value
As at 31 December 2024	-	-	302	312	614

As at 31 December 2023	-	-	1,497	407	1,904

5. Stocks

	31 December 2024	30 December 2023
	£	£
Stock	49,048	37,746

6. Debtors

	31 December 2024	30 December 2023
	£	£
Due within one year
Trade debtors	98,662	136,658
Amounts owed by group undertakings	345	-
Other debtors	14,991	6,712

	113,998	143,370

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Leicester Hose & Hydraulics Limited

Notes to the Financial Statements (continued)

For the Period 31 December 2023 to 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	31 December 2024	30 December 2023
	£	£
Trade creditors	42,879	77,991
Amounts owed to group undertakings	6,073	-
Other creditors	-	1,692
Taxation and social security	8,579	33,048

	57,531	112,731

8. Share Capital

	31 December 2024	30 December 2023
	£	£
Allotted, Called up and fully paid	1	1

9. Related Party Transactions

The company has taken advantage of the exemptions provided by FRS 102 Section 1A in relation to paragraph 33.1A from disclosing transactions and balances with other group companies.

10. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. Ultimate Parent Undertaking and Controlling Party

The company's immediate parent undertaking is Hydroscand Ltd and the ultimate parent undertaking is Hydroscand Group AB. Hydroscand Group AB is incorporated in Sweden.

Copies of the group accounts may be obtained from the secretary,

Hydroscand Group AB

Box 401

SE-128 06 Skondal

Sweden

The ultimate controlling party is Bjorn Holmstrom by virtue of his shareholding in the ultimate parent company.

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Leicester Hose & Hydraulics Limited

Notes to the Financial Statements (continued)

For the Period 31 December 2023 to 31 December 2024

12. Audit Information

The auditor's report on the accounts of Leicester Hose & Hydraulics Limited for the period ended 31 December 2024 contained a disclaimer of opinion.

The basis of qualification in the auditor's report was as follows:

We were appointed as auditors of the Company on 16 December 2024 and accordingly could not observe the counting of physical inventories at the beginning of the period. We were unable to satisfy ourselves by alternative means concerning inventory quantities held at the beginning and end of the period. In addition, we were unable to obtain sufficient appropriate audit evidence regarding the opening balances of property, plant and equipment, retained earnings, and other balances as of 31 December 2023.

The opening balances enter into the determination of the financial performance for the period. Because of the significance of the matters described above, we were unable to determine whether adjustments might have been necessary in respect of the opening balances and, consequently, the results for the period ended 31 December 2024 and changes in equity.

Because of the significance of the matters described in the preceding paragraphs, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion.

The matters required to report by exception are stated below:

Arising from the limitation of our work referred to above:

we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

we were unable to determine whether adequate accounting records have been kept.

The auditor's report was signed by David Alan Oakensen FCA (Senior Statutory Auditor) for and on behalf of Oakensen (Bristol) Limited , Statutory Auditor.

Oakensen (Bristol) Limited

Westbury Court

Church Road

Westbury-on-Trym

Bristol

BS9 3EF

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		31 December 2024		30 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		614		1,904

			614		1,904
CURRENT ASSETS
Stocks	5	49,048		37,746
Debtors	6	113,998		143,370
Cash at bank and in hand		71,967		47,460

		235,013		228,576
Creditors: Amounts Falling Due Within One Year	7	(57,531 )		(112,731 )

NET CURRENT ASSETS (LIABILITIES)			177,482		115,845

TOTAL ASSETS LESS CURRENT LIABILITIES			178,096		117,749

NET ASSETS			178,096		117,749

CAPITAL AND RESERVES
Called up share capital	8		1		1
Capital redemption reserve			1		1
Profit and Loss Account			178,094		117,747

SHAREHOLDERS' FUNDS			178,096		117,749