North Devon Hose & Hydraulics Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02471706 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2016 TO 31 DECEMBER 2017

FOR

North Devon Hose & Hydraulics Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Directors:

R J Davies

C F Ford

Registered office:

71a- 71b Roman Way Industrial Estate

Ribbleton

Preston

PR2 5BE

Business address:

Old Drill Hall

Rocky Hill

Tavistock

Devon

PL19 0DZ

Registered number:

02471706 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Tangible assets

4

21,440

26,837

Current assets

Stocks

73,264

70,555

Debtors

5

60,140

63,267

Cash at bank and in hand

52,434

72,889

185,838

206,711

Creditors

Amounts falling due within one year

6

43,337

58,445

Net current assets

142,501

148,266

Total assets less current liabilities

163,941

175,103

Provisions for liabilities

7

4,100

5,400

Net assets

159,841

169,703

Capital and reserves

Called up share capital

8

2

2

Retained earnings

159,839

169,701

Shareholders' funds

159,841

169,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 4 June 2018 and were signed on its behalf by:

C F Ford - Director

R J Davies - Director

1.	STATUTORY INFORMATION

North Devon Hose & Hydraulics Limited is a private company, limited by shares, registered

in England and Wales. The company's registered number, business address and registered

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

Turnover

Turnover represents amounts invoiced in respect of goods and services, net of value added

tax. Turnover from the sale of goods is recognised upon the dispatch of the product and

turnover from the sale of services is recognised upon completion of the work.

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

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete

and sell. Cost is determined using the first in first out method. The carrying amount of stock

sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit &

Loss Account, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred 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.

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 period 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.

Pension costs and other post-retirement benefits

The company operates a statutory pension scheme. Employer contributions payable to the

employee pension schemes are changed to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price),

less any impairment losses for bad and doubtful debts. Loans and other financial assets are

initially recognised at transaction price including any transaction costs and subsequently

measured at amortised cost determined using the effective interest method, less any

impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price).

Loans and other financial liabilities are initially recognised at transaction price net of any

transaction costs and subsequently measured at amortised cost determined using the

effective interest method.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an

obligation at the reporting date as a result of a past event, it is probable that economic

benefit will be transferred to settle the obligation and the amount of the obligation can be

estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2016 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 October 2016

and 31 December 2017

36,546

42,904

79,450

Depreciation

At 1 October 2016

29,951

22,662

52,613

Charge for period

1,351

4,046

5,397

At 31 December 2017

31,302

26,708

58,010

Net book value

At 31 December 2017

5,244

16,196

21,440

At 30 September 2016

6,595

20,242

26,837

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

50,422

52,812

Amounts owed by group undertakings

2,630

-

Other debtors

7,088

10,455

60,140

63,267

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

10,365

16,788

Amounts owed to group undertakings

-

12,480

Taxation and social security

21,839

21,094

Other creditors

11,133

8,083

43,337

58,445

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

4,100

5,400

Deferred

tax

£

Balance at 1 October 2016

5,400

Provided during period

(1,300

)

Balance at 31 December 2017

4,100

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

9.	ULTIMATE CONTROLLING PARTY/PARENT UNDERTAKING

The company is owned and controlled by Hose & Hydraulics Group Limited. The ultimate

parent is R&G Acquisitions Ltd. Both these companies are incorporated in England & Wales.