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COMPANY REGISTRATION NUMBER: 02127692
Hydromarque Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
Hydromarque Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
182,049
41,169
Current assets
Stocks
601,233
718,234
Debtors
6
1,876,391
1,321,138
Cash at bank and in hand
1,012,804
925,675
------------
------------
3,490,428
2,965,047
Creditors: amounts falling due within one year
7
903,383
821,264
------------
------------
Net current assets
2,587,045
2,143,783
------------
------------
Total assets less current liabilities
2,769,094
2,184,952
Provisions
45,382
27,665
------------
------------
Net assets
2,723,712
2,157,287
------------
------------
Hydromarque Limited
Statement of Financial Position (continued)
30 June 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
1,105
1,105
Share premium account
420
420
Capital redemption reserve
32,692
32,692
Profit and loss account
2,689,495
2,123,070
------------
------------
Shareholder funds
2,723,712
2,157,287
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
R Newcombe
Director
Company registration number: 02127692
Hydromarque Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-21 Stapleton Road, Orton Southgate, Peterborough, Cambridgeshire, PE2 6TD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on a historical cost basis.
Judgements and key sources of estimation uncertainty
The directors make estimates and assumptions about the future. These estimates and assumptions impact recognised assets and liabilities, as well as revenue and expenses and other disclosures. These estimates are based on historical experience and on various assumptions considered reasonable under the prevailing conditions. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The directors consider that there are no estimates and assumptions that would have a significant effect on the carrying amounts of assets and liabilities within financial year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
10% reducing balance
Plant and machinery
-
10-25% Reducing balance
Fixtures and fittings
-
25-33% Reducing balance
Motor vehicles
-
25% Reducing balance
Equipment
-
33% Straight Line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 8 ).
5. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jul 2023
31,961
37,238
45,455
14,112
128,766
Additions
17,803
23,725
17,102
120,756
1,248
180,634
Disposals
( 7,304)
( 12,000)
( 11,690)
( 30,994)
--------
--------
--------
---------
--------
---------
At 30 Jun 2024
17,803
48,382
42,340
154,521
15,360
278,406
--------
--------
--------
---------
--------
---------
Depreciation
At 1 Jul 2023
29,335
16,068
38,490
3,704
87,597
Charge for the year
1,005
2,727
4,548
18,961
3,606
30,847
Disposals
( 7,264)
( 6,446)
( 8,377)
( 22,087)
--------
--------
--------
---------
--------
---------
At 30 Jun 2024
1,005
24,798
14,170
49,074
7,310
96,357
--------
--------
--------
---------
--------
---------
Carrying amount
At 30 Jun 2024
16,798
23,584
28,170
105,447
8,050
182,049
--------
--------
--------
---------
--------
---------
At 30 Jun 2023
2,626
21,170
6,965
10,408
41,169
--------
--------
--------
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
1,144,641
1,065,313
Amounts owed by group undertakings and undertakings in which the company has a participating interest
712,310
232,030
Other debtors
19,440
23,795
------------
------------
1,876,391
1,321,138
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
326,297
309,661
Social security and other taxes
450,007
385,334
Other creditors
127,079
126,269
---------
---------
903,383
821,264
---------
---------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
55,526
59,936
Later than 1 year and not later than 5 years
158,015
177,041
Later than 5 years
60,833
97,333
---------
---------
274,374
334,310
---------
---------
9. Contingencies
The company has provided a cross guarantee in respect of the loan facility in the parent company. The bank holds a fixed and floating charge over the assets of the company.