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Financial Statements for the Year Ended 30 June 2020 |
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Hydra Engineering Services Ltd |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 June 2020 |
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for |
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Hydra Engineering Services Ltd |
Hydra Engineering Services Ltd (Registered number: 04992012) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Hydra Engineering Services Ltd |
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Company Information |
for the Year Ended 30 June 2020 |
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Directors: |
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Registered office: |
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Registered number: |
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Auditors: |
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Chartered Certified Accountants |
Library Chambers |
48 Union Street |
Hyde |
Cheshire |
SK14 1ND |
Hydra Engineering Services Ltd (Registered number: 04992012) |
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Balance Sheet |
30 June 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Investments | 5 |
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Current assets |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one year | 8 | ( |
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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves |
Called up share capital | 9 |
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Retained earnings |
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Shareholders' funds |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Hydra Engineering Services Ltd (Registered number: 04992012) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2020 |
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1. | Statutory information |
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Hydra Engineering Services Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer and software/ website | - |
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Stocks |
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 items. |
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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. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Hydra Engineering Services Ltd (Registered number: 04992012) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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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. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Cost |
At 1 July 2019 |
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Additions |
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Disposals | ( |
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At 30 June 2020 |
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Depreciation |
At 1 July 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2020 |
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Net book value |
At 30 June 2020 |
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At 30 June 2019 |
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Hydra Engineering Services Ltd (Registered number: 04992012) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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4. | Tangible fixed assets - continued |
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Computer |
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Motor | software/ |
vehicles | website | Totals |
£ | £ | £ |
Cost |
At 1 July 2019 |
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Additions |
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Disposals | ( |
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At 30 June 2020 |
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Depreciation |
At 1 July 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2020 |
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Net book value |
At 30 June 2020 |
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At 30 June 2019 |
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5. | Fixed asset investments |
Other |
investments |
£ |
Cost |
At 1 July 2019 |
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Disposals | ( |
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At 30 June 2020 |
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Net book value |
At 30 June 2020 |
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At 30 June 2019 |
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6. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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Hydra Engineering Services Ltd (Registered number: 04992012) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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7. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | Creditors: amounts falling due after more than one year |
2020 | 2019 |
£ | £ |
Hire purchase contracts |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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A Ordinary | £1 | 1 | 1 |
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B Ordinary | £1 | 1 | 1 |
2 | 2 |
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10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was qualified on the following basis: |
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Basis for disclaimer of opinion |
We were not appointed as auditor of the company until after 30 June 2020 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 30 June 2020, which are included in the balance sheet at £109,442, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary. |
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In addition, we have not been able to gather audit evidence to satisfy our audit testing to verify the completeness and existence of the fixed assets. The valuation and existence of stock (including work in progress) and the completeness of income in the financial statements. |
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for and on behalf of
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Hydra Engineering Services Ltd (Registered number: 04992012) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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11. | Ultimate controlling party |
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Brammer UK Limited hold all the shares in the company. Brammer UK Limited is a company registered in England and Wales with the registered office being Dakota House, Concord Business Park, Manchester. |
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Brammer UK Limited immediate parent company is Rubix International Limited. |
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The ultimate holding company is Al Robin (Cayman) Limited. |
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The ultimate controlling party is Advent Funds GPE VIII. |