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Registration number: 08693197

Hydrus Hygiene Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Hydrus Hygiene Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Hydrus Hygiene Limited

Company Information

Directors

D. Garton

A. W. Wakeling

S. Garton

Registered office

Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

Accountants

Robert Whowell & Partners LLP
Chartered Accountants
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

Hydrus Hygiene Limited

(Registration number: 08693197)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

387,319

327,519

Tangible assets

5

387,096

408,981

 

774,415

736,500

Current assets

 

Stocks

6

132,796

143,145

Debtors

7

421,792

357,842

Cash at bank and in hand

 

35,565

463

 

590,153

501,450

Creditors: Amounts falling due within one year

8

(1,343,092)

(1,271,873)

Net current liabilities

 

(752,939)

(770,423)

Total assets less current liabilities

 

21,476

(33,923)

Creditors: Amounts falling due after more than one year

8

(16,667)

(26,667)

Net assets/(liabilities)

 

4,809

(60,590)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

4,709

(60,690)

Shareholders' funds/(deficit)

 

4,809

(60,590)

 

Hydrus Hygiene Limited

(Registration number: 08693197)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2023 and signed on its behalf by:
 

.........................................
D. Garton
Director

 

Hydrus Hygiene Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

These financial statements were authorised for issue by the Board on 7 November 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Hydrus Hygiene Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

6 years straight line

Office equipment

10% on reducing balance

Equipment

10% on reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and once the licence has been granted, are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

Hydrus Hygiene Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Biocidal licence

five years straight line after licence granted

Branding

five years straight line

Website development

five years straight line

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 debtor.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Hydrus Hygiene Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 9).

 

Hydrus Hygiene Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Trademarks, patents and licences
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 October 2022

327,519

-

327,519

Additions acquired separately

12,750

47,050

59,800

At 30 September 2023

340,269

47,050

387,319

Carrying amount

At 30 September 2023

340,269

47,050

387,319

At 30 September 2022

327,519

-

327,519

5

Tangible assets

Leasehold improvements
£

Office equipment
 £

Equipment
£

Total
£

Cost or valuation

At 1 October 2022

29,287

18,646

473,990

521,923

Additions

4,512

1,096

9,036

14,644

At 30 September 2023

33,799

19,742

483,026

536,567

Depreciation

At 1 October 2022

13,092

5,686

94,164

112,942

Charge for the year

5,064

1,302

30,163

36,529

At 30 September 2023

18,156

6,988

124,327

149,471

Carrying amount

At 30 September 2023

15,643

12,754

358,699

387,096

At 30 September 2022

16,195

12,960

379,826

408,981

 

Hydrus Hygiene Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Stocks

2023
£

2022
£

Work in progress

13,600

-

Stocks

119,196

143,145

132,796

143,145

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

280,859

186,565

Amounts owed by related parties

11

71,310

58,769

Prepayments

 

39,780

51,412

Other debtors

 

29,843

61,096

   

421,792

357,842

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

88,704

22,690

Trade creditors

 

137,455

182,193

Taxation and social security

 

52,770

19,800

Accruals and deferred income

 

14,021

14,697

Other creditors

 

1,050,142

1,032,493

 

1,343,092

1,271,873

 

Hydrus Hygiene Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

16,667

26,667

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

16,667

26,667

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Other borrowings

78,704

12,690

88,704

22,690

11

Related party transactions

During the year dividends amounting to £5,000 were paid to the parent company (2022 - £3,000).

At the year end, companies associated with the directors owed Hydrus Hygiene Limited £71,310 (2022 - £58,769).