Neilson Hydraulics & Engineering Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05993257 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Neilson Hydraulics & Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R G Turner

REGISTERED OFFICE:

Unit 2

Carley Drive

Westfield

Sheffield

S20 8NQ

REGISTERED NUMBER:

05993257 (England and Wales)

ACCOUNTANTS:

Haines Watts

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

FIXED ASSETS

Tangible assets

4

49,222

47,716

CURRENT ASSETS

Stocks

573,536

453,167

Debtors

5

550,044

323,835

Cash at bank and in hand

178,359

401,454

1,301,939

1,178,456

CREDITORS

Amounts falling due within one year

6

349,705

405,723

NET CURRENT ASSETS

952,234

772,733

TOTAL ASSETS LESS CURRENT LIABILITIES

1,001,456

820,449

CAPITAL AND RESERVES

Called up share capital

7

111

111

Share premium

27,489

27,489

Capital redemption reserve

50

50

Retained earnings

973,806

792,799

SHAREHOLDERS' FUNDS

1,001,456

820,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2024 and were signed by:

R G Turner - Director

1.	STATUTORY INFORMATION

Neilson Hydraulics & Engineering 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.

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.

The financial statements are presented in sterling, which is the functional currency of the company rounded to the nearest £1.

Turnover

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

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 etc

-

25% on reducing balance

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 is comprised of current 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.

Current taxation assets and liabilities are not discounted.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2023

183,425

Additions

24,174

Disposals

(36,342

)

At 31 December 2023

171,257

DEPRECIATION

At 1 January 2023

135,709

Charge for year

19,862

Eliminated on disposal

(33,536

)

At 31 December 2023

122,035

NET BOOK VALUE

At 31 December 2023

49,222

At 31 December 2022

47,716

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

£

Trade debtors

335,373

268,067

Amounts owed by group undertakings

150,000

-

Other debtors

64,671

55,768

550,044

323,835

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

£

Trade creditors

230,516

323,580

Taxation and social security

104,128

66,989

Other creditors

15,061

15,154

349,705

405,723

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.23

31.12.22

value:

£

£

111

Ordinary

£1.00

111

111