Registration number:
Able Hydraulics Holdings Limited
for the Year Ended 28 February 2017
Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR
Able Hydraulics Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Able Hydraulics Holdings Limited
Company Information
Directors |
S Robinson R Phelan |
Registered office |
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Accountants |
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Able Hydraulics Holdings Limited
(Registration number: 06354310)
Balance Sheet as at 28 February 2017
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2017 |
2016 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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R Phelan
Director
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Able Hydraulics Holdings Limited
Notes to the Financial Statements for the Year Ended 28 February 2017
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Unit 1a Broadoak Ind Estate
Ashburton Road West
Trafford Park
Manchester
M17 1RW
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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Able Hydraulics Holdings Limited
Notes to the Financial Statements for the Year Ended 28 February 2017
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Subsidiaries |
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Cost or valuation |
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At 1 March 2016 |
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Provision |
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Carrying amount |
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At 28 February 2017 |
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At 29 February 2016 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2017 |
2016 |
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Subsidiary undertakings |
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Ordinary |
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England and Wales |
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Able Hydraulics Holdings Limited
Notes to the Financial Statements for the Year Ended 28 February 2017
The principal activity of Able Hydraulics Limited is |
Debtors |
Note |
2017 |
2016 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Total current trade and other debtors |
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Related party transactions |
Summary of transactions with subsidiaries
At the balance sheet date the amount due from Able Hydraulics Limited was £173 (2016 - £173).
Parent and ultimate parent undertaking |
The company's immediate parent is
Transition to FRS 102 |
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