Hedley Hydraulics (Holdings) Limited - Period Ending 2021-01-31

Hedley Hydraulics (Holdings) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Hedley Hydraulics (Holdings) Limited

Company Information

Directors

Mr SM Davies Mr J M Booker Mr J D Massey

Company secretary

Mr SM Davies

Registered office

12 Greenhead Road Huddersfield West Yorkshire HD1 4EN

Accountants

Walker & Sutcliffe Chartered Accountants 12 Greenhead Road Huddersfield West Yorkshire HD1 4EN

Hedley Hydraulics (Holdings) Limited

(Registration number: 03705776)
Balance Sheet as at 31 January 2021

	Note	2021 £	2020 £
Fixed assets
Other financial assets	4	250,001	250,001
Current assets
Debtors	5	2,308	2,308
Creditors: Amounts falling due within one year	6	(1)	(1)
Net current assets		2,307	2,307
Net assets		252,308	252,308
Capital and reserves
Called up share capital	7	1,000	1,000
Other reserves		249,000	249,000
Profit and loss account		2,308	2,308
Shareholders' funds		252,308	252,308

For the financial year ending 31 January 2021 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 October 2021 and signed on its behalf by:
 

......................................... Mr J D Massey Director

Hedley Hydraulics (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021

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:
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN

The principal place of business is:
Lion House
Crigglestone Industrial Estate
Wakefield
West Yorkshire
WF4 3HT
England

These financial statements were authorised for issue by the Board on 26 October 2021.

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.

The presentational currency is £ sterling.

Investments

Fixed asset investments are stated at historical cost less provision for any dimution 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.

Hedley Hydraulics (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2020 - 3).

Hedley Hydraulics (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021

4	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 February 2020	250,001	250,001
At 31 January 2021	250,001	250,001
Impairment
Carrying amount
At 31 January 2021	250,001	250,001

5

Debtors

	Note	2021 £	2020 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	8	2,308	2,308
		2,308	2,308

6

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	1	1

7	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary of £1 each	1,000	1,000	1,000	1,000

Hedley Hydraulics (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021

8	Related party transactions

Summary of transactions with all subsidiaries

Hedley Hydraulics Limited
 (Subsidiary company)
 During the year the company made repayments of £nil (2020: £nil) to Hedley Hydraulics Limited. At the balance sheet date the amount due from Hedley Hydraulics Limited was £2,308 (2020: £2,308).
 

Summary of transactions with other related parties

Hedley Connectors Limited
 (Subsidiary company)
 At the balance sheet date the amount due to Hedley Connectors Limited was £1 (2020: £1).
 

Hedley Hydraulics (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021

Control

The company is controlled by the directors who own 100% of the called up share capital.

Ultimate Parent Company

Hedley DMB Limited is regarded by the directors as being the company's ultimate parent company.