|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 AUGUST 2017 |
|
FOR |
|
PRESSURE DESIGN HYDRAULICS LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 AUGUST 2017 |
|
FOR |
|
PRESSURE DESIGN HYDRAULICS LIMITED |
PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
PRESSURE DESIGN HYDRAULICS LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
|
|
|
BANKERS: |
|
Bank Street |
Mexborough |
Doncaster |
South Yorkshire |
S64 9QE |
PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483) |
|
BALANCE SHEET |
31 AUGUST 2017 |
|
31.8.17 | 31.8.16 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
|
|
Debtors | 4 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 5 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 6 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483) |
|
BALANCE SHEET - continued |
31 AUGUST 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
signed on its behalf by: |
|
|
|
|
|
|
|
PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
|
1. | STATUTORY INFORMATION |
|
Pressure Design Hydraulics Limited is a
|
England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
|
The financial statements are presented in sterling which is the functional currency of the |
company and rounded to the nearest pound. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
This is the first year that the company has presented its financial statements under |
Financial Reporting Standard 102 (FRS102) issued by the Financial Reporting Council. the |
last financial statements for the year ended 31 August 2016 were prepared under previous |
UK GAAP, and the transition date to FRS102 is therefore 1 September 2015. At the date of |
transition, no adjustments were required. |
|
Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies |
that have had the mosty significant effect on amounts recognised in the financial |
statements. |
|
There are no key assumptions concerning the future and other key sources of estimation |
uncertainty at the reporting date that have a significant risk of causing material adjustment |
to the carrying amounts of assets and liabilities withing the next financial year. |
PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
|
2. | ACCOUNTING POLICIES - continued |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, |
excluding discounts, rebates, value added tax and other sales taxes. |
|
Turnover is measured at the fair value of the consideration received or receivable net of |
VAT and trade discounts. |
|
Sale of goods- |
|
Turnover from the sale of goods is recognised when significant risks and rewards of |
ownership have been transferred to the buyer, the amount of turnover can be measured |
reliably, it is probable that the economic benefits associated with the transaction will flow |
to the company and the costs incurred or to be incurred in respect of the transaction can |
be measured reliably. This is usually on dispatch of the goods. |
|
Rendering of services- |
|
When the outcome of a transaction can be estimated reliably, turnover from the rendering |
of services is recognised by reference to the stage of completion at the balance sheet date. |
Stage of completion is measured by reference to time spent on a job by comparison with |
the estimated total time required. |
|
Where the outcome cannot be measured reliably, turnover is recognised only to the extent |
of the expenses recognised that are recoverable. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving stock. |
|
Cost is calculated using the first-in, first-out method and includes all purchase, transport |
and handling costs in bringing stocks to their present location and condition. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that |
have been enacted or substantively enacted by the balance sheet date. |
|
PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in |
periods different from those in which they are recognised in financial statements. Deferred |
tax is measured using tax rates and laws that have been enacted or substantively enacted |
by the year end and that are expected to apply to the reversal of the timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it |
is probable that they will be recovered against the reversal of deferred tax liabilities or |
other future taxable profits. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to |
the company's pension scheme are charged to profit or loss in the period to which they |
relate. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Trade debtors |
|
|
Amounts recoverable on contract |
|
|
Other debtors |
|
|
|
|
|
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.17 | 31.8.16 |
£ | £ |
Payments on account |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
PRESSURE DESIGN HYDRAULICS LIMITED (REGISTERED NUMBER: 02939483) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
|
6. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.17 | 31.8.16 |
value: | £ | £ |
|
Ordinary | £1 | 100 | 100 |
|
7. | RELATED PARTY DISCLOSURES |
|
Entities with control, joint control, or significant influence over the entity |
|
31.8.17 | 31.8.16 |
£ | £ |
Dividends paid to related party | 305,400 | 380,400 |
Management charge paid to related party | 110,500 | 108,000 |
Amounts due from related party | 228,200 | 182,400 |
|
8. | ULTIMATE PARENT COMPANY |
|
The ultimate parent undertaking is Pressure Design & Engineering Limited. |
|
The parent company's registered office address is; |
|
Commercial Road |
Goldthorpe Industrial Estate |
Goldthorpe |
Rotherham |
South Yorkshire |
S63 9BL |