Versatile Hydraulics Ltd
Versatile Hydraulics Ltd
Registered number: 9952228
Unaudited Financial Statements
For the Period 14 January 2016 to 31 January 2017
A L Hawkins & Co
Certified Accountants
32 Roger Drive
Sandal
Wakefield
West Yorkshire
WF2 7NE
Versatile Hydraulics Ltd
Unaudited Financial Statements
For the Period 14 January 2016 to 31 January 2017
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Statement of Changes in Equity | 3 |
Notes to the Financial Statements | 4—7 |
Versatile Hydraulics Ltd
Balance Sheet
As at
31 January 2017
Balance Sheet
Registered number:
9952228
For the period ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Period to 31 January 2017 | |||
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Notes | £ | £ | |
FIXED ASSETS | |||
Tangible Assets | 6 |
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CURRENT ASSETS | |||
Stocks | 7 |
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Debtors | 8 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 9 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||
Called up share capital | 10 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS | 13 | ||
Page 1
Versatile Hydraulics Ltd
Balance Sheet (continued)
As at
31 January 2017
Directors' responsibilities:
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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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 4 to 7 form part of these financial statements.
Page 2
Versatile Hydraulics Ltd
Statement of Changes in Equity
For the Period 14 January 2016 to 31 January 2017
Statement of Changes in Equity
Share Capital | Profit & Loss Account | Total | |
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£ | £ | £ | |
Profit for the period and total comprehensive income | - |
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5,162 |
Dividends paid | - | (5,150) | (5,150) |
Arising on shares issued during the period |
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- | 1 |
As at |
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13 |
Page 3
Versatile Hydraulics Ltd
Notes to the Unaudited Accounts
For the Period 14 January 2016 to 31 January 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery |
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Fixtures & Fittings |
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Computer Equipment |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
Period to 31 January 2017 | |
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£ | |
Wages and salaries |
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Social security costs |
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4.
Average number of employees
Average number of employees, including directors, during the year was as follows:
Period to 31 January 2017 | |
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Office and administration |
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Sales, marketing and distribution |
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Page 4
Versatile Hydraulics Ltd
Notes to the Unaudited Accounts (continued)
For the Period 14 January 2016 to 31 January 2017
6.
Tangible Assets
Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | £ | |
Cost | ||||
As at |
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Additions |
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As at |
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Depreciation | ||||
As at |
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Provided during the period |
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As at |
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Net Book Value | ||||
As at |
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As at |
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7.
Stocks
Period to 31 January 2017 | |
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£ | |
Stock - materials |
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This relates to parts in stock at year end.
8.
Debtors
Period to 31 January 2017 | |
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£ | |
Due within one year | |
Trade debtors |
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Other taxes and social security |
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Page 5
Versatile Hydraulics Ltd
Notes to the Unaudited Accounts (continued)
For the Period 14 January 2016 to 31 January 2017
9.
Creditors: Amounts Falling Due Within One Year
Period to 31 January 2017 | |
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£ | |
Trade creditors |
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Corporation tax |
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VAT |
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Directors' loan accounts |
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11.
Transactions With and Loans to Directors
Included within creditors are the following loans to directors:
As at |
Amounts advanced | Amounts repaid | As at |
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£ | £ | £ | £ | |
Mr Shaun Corr |
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Miss Katie James |
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The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
Period to 31 January 2017 | |
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£ | |
Mr Shaun Corr | 5,150 |
Page 6
Versatile Hydraulics Ltd
Notes to the Unaudited Accounts (continued)
For the Period 14 January 2016 to 31 January 2017
12.
Dividends
Period to 31 January 2017 | |
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£ | |
On equity shares: | |
Final dividend paid |
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5,150 | |
13.
Ultimate Controlling Party
The company's ultimate controlling party is Shaun Corr by virtue of his ownership of 100% of the issued share capital in the company.
14.
General Information
Versatile Hydraulics Ltd Registered number 9952228 is a limited by shares company incorporated in England & Wales. The Registered Office is 42 Shepherd Way, Royston, Barnsley, South Yorkshire, S71 4FY.
Page 7