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Registered number: 07673799









HYDRAJAWS HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
HYDRAJAWS HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
Mr A G Morgan 
Ms S E Morgan 




Registered number
07673799



Registered office
73 Kettlebrook Road

Tamworth

Staffordshire

B77 1AG




Accountants
Wayside Accountancy Limited
Chartered Accountants

Mulberry Offices

46-48 Mere Green Road

Sutton Coldfield

West Midlands

B75 5BT





 
HYDRAJAWS HOLDINGS LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 6


 
HYDRAJAWS HOLDINGS LIMITED
REGISTERED NUMBER: 07673799

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,710,817
3,630,650

Investments
 5 
840,100
840,100

  
4,550,917
4,470,750

Current assets
  

Debtors: amounts falling due within one year
 6 
-
40,000

Cash at bank and in hand
 7 
14,379
280,332

  
14,379
320,332

Creditors: amounts falling due within one year
 8 
(2,998,741)
(3,162,850)

Net current liabilities
  
 
 
(2,984,362)
 
 
(2,842,518)

Total assets less current liabilities
  
1,566,555
1,628,232

Creditors: amounts falling due after more than one year
 9 
(359,295)
(475,706)

  

Net assets
  
1,207,260
1,152,526


Capital and reserves
  

Called up share capital 
  
147,422
147,422

Capital redemption reserve
  
692,678
692,678

Profit and loss account
  
367,160
312,426

  
1,207,260
1,152,526


Page 1

 
HYDRAJAWS HOLDINGS LIMITED
REGISTERED NUMBER: 07673799
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 March 2024.


Mr A G Morgan
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
HYDRAJAWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Hydrajaws Holdings Limited is a limited liability company incorporated and domiciled in the United Kingdom. The address of its registered office and registration number is shown on the company information page.  The financial statements are prepared in Sterling (£).
The principal activity of the company is that of a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line
Fixtures and fittings
-
10%
Straight line
Other fixed assets
-
5%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
HYDRAJAWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
HYDRAJAWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Freehold property
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 August 2022
3,593,840
52,592
3,646,432


Additions
82,795
-
82,795



At 31 July 2023

3,676,635
52,592
3,729,227



Depreciation


At 1 August 2022
-
15,782
15,782


Charge for the year on owned assets
-
2,628
2,628



At 31 July 2023

-
18,410
18,410



Net book value



At 31 July 2023
3,676,635
34,182
3,710,817



At 31 July 2022
3,593,840
36,810
3,630,650


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2022
840,100



At 31 July 2023
840,100




Page 5

 
HYDRAJAWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
-
40,000



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,379
280,332



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
19,355
16,259

Amounts owed to group undertakings
2,979,386
3,146,591



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
359,295
475,706



10.


Related party transactions

During the period, the company received dividends of £350,000 (2022 £500,000) from Hydrajaws Limited and £40,000 (2022 £40,000) from Hydrajaws (US) Limited, of which Hydrajaws Holdings Limited owns 100% of the issued share capital.
At the year end there was a creditor due to Hydrajaws Limited of £2,979,386 (2022 £3,146,591) and a debtor due from Hydrajaws (US) Limited of £Nil (2022 £40,000).


11.


Controlling party

In the opinion of the directors there is no single controlling party.

Page 6