Control Gear (Hydraulics) Limited

Control Gear (Hydraulics) Limited

CONTROL GEAR (HYDRAULICS) LIMITED - Company Information

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1 May 2022 false No description of principal activity Taxfiler 2023.9.1 2065247business:PrivateLimitedCompanyLtd2022-05-012023-04-30 20652472022-04-30 20652472022-05-012023-04-30 2065247business:AuditExemptWithAccountantsReport2022-05-012023-04-30 2065247business:FilletedAccounts2022-05-012023-04-30 20652472023-04-30 2065247business:Director22022-05-012023-04-30 2065247business:Director32022-05-012023-04-30 2065247business:Director42022-05-012023-04-30 2065247business:RegisteredOffice2022-05-012023-04-30 20652472022-04-30 2065247core:WithinOneYear2023-04-30 2065247core:WithinOneYear2022-04-30 2065247core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 2065247core:ShareCapitalcore:PreviouslyStatedAmount2022-04-30 2065247core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 2065247core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-04-30 2065247core:PreviouslyStatedAmount2023-04-30 2065247core:PreviouslyStatedAmount2022-04-30 2065247business:SmallEntities2022-05-012023-04-30 2065247countries:EnglandWales2022-05-012023-04-30 2065247core:MotorVehicles2022-05-012023-04-30 2065247core:FurnitureFittings2022-05-012023-04-30 2065247core:MotorVehicles2022-04-30 2065247core:FurnitureFittings2022-04-30 2065247core:MotorVehicles2023-04-30 2065247core:FurnitureFittings2023-04-30 20652472021-05-012022-04-30 iso4217:GBP xbrli:pure
Company Registration No. 2065247 (England and Wales)
Control Gear (Hydraulics) Limited Unaudited accounts for the year ended 30 April 2023
Control Gear (Hydraulics) Limited Unaudited accounts Contents
Page
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Control Gear (Hydraulics) Limited Company Information for the year ended 30 April 2023
Directors
C J Morris G Bevan S Holder
Company Number
2065247 (England and Wales)
Registered Office
Heol Groeswen Treforest Industrial Estate Pontypridd CF37 5YF
Accountants
R H Jeffs & Rowe Ltd 27-28 Gelliwastad Road Pontypridd CF37 2BW
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Control Gear (Hydraulics) Limited for the year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Control Gear (Hydraulics) Limited for the year ended 30 April 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Control Gear (Hydraulics) Limited, as a body, in accordance with the terms of our engagement letter dated 30 June 2016. Our work has been undertaken solely to prepare for your approval the accounts of Control Gear (Hydraulics) Limited and state those matters that we have agreed to state to the Board of Directors of Control Gear (Hydraulics) Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Control Gear (Hydraulics) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Control Gear (Hydraulics) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Control Gear (Hydraulics) Limited. You consider that Control Gear (Hydraulics) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Control Gear (Hydraulics) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
R H Jeffs & Rowe Ltd Chartered Accountants 27-28 Gelliwastad Road Pontypridd CF37 2BW 23 October 2023
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Control Gear (Hydraulics) Limited Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
77,086 
64,460 
Current assets
Inventories
159,000 
237,000 
Debtors
5
2,706,314 
2,410,148 
Cash at bank and in hand
316,723 
121,874 
3,182,037 
2,769,022 
Creditors: amounts falling due within one year
6
(1,479,952)
(1,387,555)
Net current assets
1,702,085 
1,381,467 
Net assets
1,779,171 
1,445,927 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
1,778,171 
1,444,927 
Shareholders' funds
1,779,171 
1,445,927 
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by
G Bevan Director Company Registration No. 2065247
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Control Gear (Hydraulics) Limited Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
Control Gear (Hydraulics) Limited is a private company, limited by shares, registered in England and Wales, registration number 2065247. The registered office is Heol Groeswen, Treforest Industrial Estate, Pontypridd, CF37 5YF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight Line
Fixtures & fittings
25% Straight Line
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Control Gear (Hydraulics) Limited Notes to the Accounts for the year ended 30 April 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2022
208,662 
18,836 
227,498 
Additions
36,366 
- 
36,366 
Disposals
(34,539)
- 
(34,539)
At 30 April 2023
210,489 
18,836 
229,325 
Depreciation
At 1 May 2022
144,202 
18,836 
163,038 
Charge for the year
23,740 
- 
23,740 
On disposals
(34,539)
- 
(34,539)
At 30 April 2023
133,403 
18,836 
152,239 
Net book value
At 30 April 2023
77,086 
- 
77,086 
At 30 April 2022
64,460 
- 
64,460 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
2,704,514 
2,408,348 
Other debtors
1,800 
1,800 
2,706,314 
2,410,148 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,063,042 
939,970 
Amounts owed to group undertakings and other participating interests
191,533 
174,642 
Taxes and social security
117,321 
48,695 
Proposed dividends
- 
100,000 
Accruals
108,056 
124,248 
1,479,952 
1,387,555 
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Control Gear (Hydraulics) Limited Notes to the Accounts for the year ended 30 April 2023
7
Transactions with related parties
The directors hold positions as directors of other related companies. These companies do not form a group as defined by company legislation and consolidated financial statements are not prepared. During the year, the Company traded with these related companies on normal terms. It also rendered or received services and provided or received financial support:- (a) The amount due to or from these related companies at the Balance Sheet date are shown in notes the debtors and creditors notes to the financial statements. (b) The Company has given guarantees in respect of the bank borrowings of the following related companies:- Control Gear Limited Control Gear Fluid Power Limited Control Gear (Group) Limited Control Gear (Filtration) Limited ControlGear (Weldex) Limited Powergear Spray & Air Limited Secure Winner Limited The directors are of the opinion that no liabilities will materialise under these guarantees. (c) Where related companies share trading premises, rent and charges for the provision of services is paid or received where appropriate.
8
Average number of employees
During the year the average number of employees was 24 (2022: 24).
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