Silverfin false 31/05/2023 01/06/2022 31/05/2023 Kieron Paul Hanson 08/03/1991 Audrey Jones 15/09/2020 Andrew William Nellins 15/09/2020 Robert Sonoga 23/07/2018 22 January 2024 The principal activity of the Company during the financial year was that of specialist hydro-power design and consultancy services. 02584011 2023-05-31 02584011 bus:Director1 2023-05-31 02584011 bus:Director2 2023-05-31 02584011 bus:Director3 2023-05-31 02584011 bus:Director4 2023-05-31 02584011 2022-05-31 02584011 core:CurrentFinancialInstruments 2023-05-31 02584011 core:CurrentFinancialInstruments 2022-05-31 02584011 core:ShareCapital 2023-05-31 02584011 core:ShareCapital 2022-05-31 02584011 core:RetainedEarningsAccumulatedLosses 2023-05-31 02584011 core:RetainedEarningsAccumulatedLosses 2022-05-31 02584011 core:Goodwill 2022-05-31 02584011 core:Goodwill 2023-05-31 02584011 core:LandBuildings 2022-05-31 02584011 core:Vehicles 2022-05-31 02584011 core:FurnitureFittings 2022-05-31 02584011 core:LandBuildings 2023-05-31 02584011 core:Vehicles 2023-05-31 02584011 core:FurnitureFittings 2023-05-31 02584011 core:CostValuation 2022-05-31 02584011 core:CostValuation 2023-05-31 02584011 core:ProvisionsForImpairmentInvestments 2022-05-31 02584011 core:ProvisionsForImpairmentInvestments 2023-05-31 02584011 2022-06-01 2023-05-31 02584011 bus:FullAccounts 2022-06-01 2023-05-31 02584011 bus:SmallEntities 2022-06-01 2023-05-31 02584011 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 02584011 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 02584011 bus:Director1 2022-06-01 2023-05-31 02584011 bus:Director2 2022-06-01 2023-05-31 02584011 bus:Director3 2022-06-01 2023-05-31 02584011 bus:Director4 2022-06-01 2023-05-31 02584011 core:Goodwill core:TopRangeValue 2022-06-01 2023-05-31 02584011 core:LandBuildings 2022-06-01 2023-05-31 02584011 core:Vehicles 2022-06-01 2023-05-31 02584011 core:FurnitureFittings 2022-06-01 2023-05-31 02584011 2021-06-01 2022-05-31 02584011 core:Goodwill 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 02584011 (England and Wales)

HYDRO-GEN LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

HYDRO-GEN LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

HYDRO-GEN LIMITED

BALANCE SHEET

As at 31 May 2023
HYDRO-GEN LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 2,509 5,842
Tangible assets 4 204,153 149,432
Investments 5 277,439 277,439
484,101 432,713
Current assets
Stocks 6 256,000 305,000
Debtors 7 1,294,543 1,628,010
Cash at bank and in hand 89,367 233,202
1,639,910 2,166,212
Creditors: amounts falling due within one year 8 ( 257,324) ( 557,889)
Net current assets 1,382,586 1,608,323
Total assets less current liabilities 1,866,687 2,041,036
Provision for liabilities ( 33,433) ( 13,651)
Net assets 1,833,254 2,027,385
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,833,154 2,027,285
Total shareholder's funds 1,833,254 2,027,385

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hydro-Gen Limited (registered number: 02584011) were approved and authorised for issue by the Board of Directors on 22 January 2024. They were signed on its behalf by:

Kieron Paul Hanson
Director
HYDRO-GEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
HYDRO-GEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hydro-Gen Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 12 Riverside Park, Station Road, Wimborne, BH21 1QU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Land and buildings 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 16

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 June 2022 57,600 57,600
At 31 May 2023 57,600 57,600
Accumulated amortisation
At 01 June 2022 51,758 51,758
Charge for the financial year 3,333 3,333
At 31 May 2023 55,091 55,091
Net book value
At 31 May 2023 2,509 2,509
At 31 May 2022 5,842 5,842

4. Tangible assets

Land and buildings Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 June 2022 0 110,935 506,025 616,960
Additions 13,200 50,745 31,024 94,969
Disposals 0 ( 6,450) 0 ( 6,450)
At 31 May 2023 13,200 155,230 537,049 705,479
Accumulated depreciation
At 01 June 2022 0 54,346 413,182 467,528
Charge for the financial year 495 22,735 16,372 39,602
Disposals 0 ( 5,804) 0 ( 5,804)
At 31 May 2023 495 71,277 429,554 501,326
Net book value
At 31 May 2023 12,705 83,953 107,495 204,153
At 31 May 2022 0 56,589 92,843 149,432

5. Fixed asset investments

Investments in associates Total
£ £
Carrying value before impairment
At 01 June 2022 277,439 277,439
At 31 May 2023 277,439 277,439
Provisions for impairment
At 01 June 2022 0 0
At 31 May 2023 0 0
Carrying value at 31 May 2023 277,439 277,439
Carrying value at 31 May 2022 277,439 277,439

6. Stocks

2023 2022
£ £
Work in progress 256,000 305,000

7. Debtors

2023 2022
£ £
Trade debtors 705,011 881,481
Amounts owed by Group undertakings 558,138 719,805
Other debtors 31,394 26,724
1,294,543 1,628,010

8. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 31,163 47,285
Taxation and social security 133,892 147,591
Other creditors 92,269 363,013
257,324 557,889