Company Registration No. 2065247 (England and Wales)
Control Gear (Hydraulics) Limited
Unaudited accounts
for the year ended 30 April 2018
Control Gear (Hydraulics) Limited
Unaudited accounts
Contents
Control Gear (Hydraulics) Limited
Company Information
for the year ended 30 April 2018
Directors
R V Bevan
C J Morris
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
Control Gear (Hydraulics) Limited
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 2018
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 2018 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
9 November 2018
Control Gear (Hydraulics) Limited
Statement of financial position
as at 30 April 2018
Tangible assets
68,949
65,574
Inventories
168,912
96,612
Debtors
1,559,741
1,388,517
Cash at bank and in hand
372,850
324,672
Creditors: amounts falling due within one year
(1,411,828)
(1,295,313)
Net current assets
689,675
514,488
Net assets
758,624
580,062
Called up share capital
1,000
1,000
Profit and loss account
757,624
579,062
Shareholders' funds
758,624
580,062
For the year ending 30 April 2018 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.
Approved by the Board on 2 November 2018.
R V Bevan
Director
Company Registration No. 2065247
Control Gear (Hydraulics) Limited
Notes to the Accounts
for the year ended 30 April 2018
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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.
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
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.
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.
Control Gear (Hydraulics) Limited
Notes to the Accounts
for the year ended 30 April 2018
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 May 2017
137,152
18,836
155,988
Disposals
(70,777)
-
(70,777)
At 30 April 2018
113,354
18,836
132,190
At 1 May 2017
71,578
18,836
90,414
Charge for the year
26,962
-
26,962
On disposals
(54,135)
-
(54,135)
At 30 April 2018
44,405
18,836
63,241
At 30 April 2018
68,949
-
68,949
At 30 April 2017
65,574
-
65,574
Finished goods
168,912
96,612
Amounts due from group undertakings etc.
1,558,841
1,387,617
7
Creditors: amounts falling due within one year
2018
2017
Trade creditors
968,780
848,657
Amounts owed to group undertakings and other participating interests
179,536
200,208
Taxes and social security
92,997
76,530
Proposed dividends
105,000
100,000
Control Gear (Hydraulics) Limited
Notes to the Accounts
for the year ended 30 April 2018
8
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 (Automation) Limited
Control Gear Fluid Power Limited
Control Gear (Group) Limited
Control Gear (Filtration) Limited
Control Gear (International) Limited
ControlGear (Weldex) Limited
Powergear Spray & Air Limited
Swansea Hydraulics Limited
Series 2000 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.
9
Average number of employees
During the year the average number of employees was 25 (2017: 24).
