Abbreviated Company Accounts - S.W.P. HYDRAULICS LTD.

S.W.P. HYDRAULICS LTD. - Company Information

03155306 S.W.P. HYDRAULICS LTD. 2014-03-31 false 2013-04-01 2014-03-31 true 03155306 2013-04-01 2014-03-31 03155306 2014-03-31 03155306 2013-03-31 03155306 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 03155306 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 iso4217:GBP shares

Registered Number 03155306

S.W.P. HYDRAULICS LTD.

Abbreviated Accounts

31 March 2014

S.W.P. HYDRAULICS LTD. Registered Number 03155306

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	145,730	69,935
		145,730	69,935
Current assets
Stocks		15,000	15,000
Debtors		740,328	494,885
Cash at bank and in hand		177,920	109,093
		933,248	618,978
Creditors: amounts falling due within one year	3	(366,179)	(322,642)
Net current assets (liabilities)		567,069	296,336
Total assets less current liabilities		712,799	366,271
Creditors: amounts falling due after more than one year	3	(73,834)	(20,049)
Provisions for liabilities		(20,143)	(12,369)
Total net assets (liabilities)		618,822	333,853
Capital and reserves
Called up share capital	4	1,000	1,000
Profit and loss account		617,822	332,853
Shareholders' funds		618,822	333,853

For the year ending 31 March 2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 12 December 2014

And signed on their behalf by:
Mr W McWattie, Director

S.W.P. HYDRAULICS LTD. Registered Number 03155306

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the fair value of consideration receivable, excluding Value Added Tax, in the ordinary course of business for goods and services provided.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Machinery - 25% reducing balance
Fixtures & Fittings - 20% reducing balance
Motor Vehicles - 20% reducing balance

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

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Deferred taxation
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2Tangible fixed assets

	£
Cost
At 1 April 2013	186,197
Additions	155,068
Disposals	(43,479)
Revaluations	-
Transfers	-
At 31 March 2014	297,786
Depreciation
At 1 April 2013	116,262
Charge for the year	44,490
On disposals	(8,696)
At 31 March 2014	152,056
Net book values
At 31 March 2014	145,730
At 31 March 2013	69,935

All fixed assets are initially recorded at cost.

3Creditors

	2014 £	2013 £
Secured Debts	102,759	29,050

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
1,000 Ordinary shares of £1 each	1,000	1,000