To hide unused applets using the Registry, run the Registry Editorand go to HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Control
The key, as its name implies, determines which Control Panel applet icons are not loaded into the Control Panel. You'll still be able to run those applets from the command line after you hide them; you just won't be able to see their icons in the Control Panel.
To hide an applet, create a new String value whose name is the filename of the applet you want to hide. For example, to hide the Mouse Control dialog box, the String value would be main.cpl.
Create separate String values for each applet you want to hide, then exit the Registry. The applets will vanish from the Control Panel. To make a hidden applet appear again, delete its string value from this same registry key.
"Windows XP Tips: Control Panel Hide Unused Applets with the Registry"
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Reference : techpraveen.com