Monarch Hose and Hydraulics Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05405173 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

MONARCH HOSE AND HYDRAULICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C Demczak

SECRETARY:

Bronsens Payroll Services Ltd

REGISTERED OFFICE:

Eden House

Two Rivers Business Park

Witney

Oxfordshire

OX28 4BL

REGISTERED NUMBER:

05405173 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

25,537

28,082

25,537

28,082

CURRENT ASSETS

Stocks

72,679

72,679

Debtors

6

47,054

45,144

Cash at bank and in hand

170,977

182,870

290,710

300,693

CREDITORS

Amounts falling due within one year

7

60,880

85,160

NET CURRENT ASSETS

229,830

215,533

TOTAL ASSETS LESS CURRENT LIABILITIES

255,367

243,615

PROVISIONS FOR LIABILITIES

8

4,955

5,234

NET ASSETS

250,412

238,381

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

250,410

238,379

SHAREHOLDERS' FUNDS

250,412

238,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 March 2024 and were signed by:

Mr C Demczak - Director

1.	STATUTORY INFORMATION

Monarch Hose and Hydraulics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

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.

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.

Investments

Investments held as fixed assets are initially included at cost and an impairment review is carried out annually.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2022

and 30 June 2023

53,999

AMORTISATION

At 1 July 2022

and 30 June 2023

53,999

NET BOOK VALUE

At 30 June 2023

-

At 30 June 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2022

73,006

7,846

40,599

8,538

129,989

Additions

1,643

183

-

4,879

6,705

At 30 June 2023

74,649

8,029

40,599

13,417

136,694

DEPRECIATION

At 1 July 2022

62,294

7,099

24,651

7,863

101,907

Charge for year

3,088

233

3,987

1,942

9,250

At 30 June 2023

65,382

7,332

28,638

9,805

111,157

NET BOOK VALUE

At 30 June 2023

9,267

697

11,961

3,612

25,537

At 30 June 2022

10,712

747

15,948

675

28,082

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

46,574

42,741

Prepayments

480

2,403

47,054

45,144

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade creditors

21,509

12,106

Tax

16,290

23,086

Social security and other taxes

749

2,375

VAT

11,952

12,366

Directors' current accounts

8,280

33,127

Accrued expenses

2,100

2,100

60,880

85,160

8.	PROVISIONS FOR LIABILITIES

30.6.23

30.6.22

£

£

Deferred tax

Accelerated capital allowances

4,955

5,234

Deferred

tax

£

Balance at 1 July 2022

5,234

Credit to Income Statement during year

(279

)

Balance at 30 June 2023

4,955

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.23

30.6.22

value:

£

£

2

Ordinary

£1

2

2

10.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr C Demczak throughout the current period.