Hydroplan Operations Limited - Period Ending 2019-05-31

Hydroplan Operations Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 May 2019

Registration number: 10451248

Hydroplan Operations Limited

Contents

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

Hydroplan Operations Limited

Balance Sheet

31 May 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	9,445	12,336
Current assets
Stocks	5	34,000	50,800
Debtors	6	68,489	73,920
Cash at bank and in hand		63,491	89,029
		165,980	213,749
Creditors: Amounts falling due within one year	7	(95,938)	(179,431)
Net current assets		70,042	34,318
Net assets		79,487	46,654
Capital and reserves
Called up share capital	8	1	1
Profit and loss account		79,486	46,653
Total equity		79,487	46,654

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

Hydroplan Operations Limited

Balance Sheet

31 May 2019

For the financial year ending 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 17 September 2019
 

.........................................

K Hanson

Director

Company Registration Number: 10451248

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Hydroplan Operations Limited

Notes to the Financial Statements

Year Ended 31 May 2019

1	General information

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

The address of its registered office is:
Unit 12 Riverside Park
Station Road
Wimborne
Dorset
BH21 1QU

These financial statements were authorised for issue by the director on 17 September 2019.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for services rendered in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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

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 corporation 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.

Page 3

Hydroplan Operations Limited

Notes to the Financial Statements

Year Ended 31 May 2019

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	25% reducing balance
Office equipment	25% reducing balance

Work in progress

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks 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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.



 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

Page 4

Hydroplan Operations Limited

Notes to the Financial Statements

Year Ended 31 May 2019

4	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 June 2018	3,950	11,013	14,963
Additions	-	260	260
At 31 May 2019	3,950	11,273	15,223
Depreciation
At 1 June 2018	876	1,751	2,627
Charge for the year	769	2,382	3,151
At 31 May 2019	1,645	4,133	5,778
Carrying amount
At 31 May 2019	2,305	7,140	9,445
At 31 May 2018	3,074	9,262	12,336

5

Stocks

	2019 £	2018 £
Work in progress	34,000	50,800

6

Debtors

	2019 £	2018 £
Trade debtors	67,298	54,295
Other debtors	1	19,625
Prepayments	1,190	-
	68,489	73,920

Page 5

Hydroplan Operations Limited

Notes to the Financial Statements

Year Ended 31 May 2019

7

Creditors

Creditors: amounts falling due within one year

	2019 £	2018  £
Due within one year
Trade creditors	50,523	84,251
Amounts due to related entities	35,040	85,040
Corporation tax	8,380	8,050
Social security and other taxes	250	-
Accrued expenses	1,745	2,090
	95,938	179,431

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

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