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REGISTERED NUMBER: 03316060 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Hycon Limited

Hycon Limited (Registered number: 03316060)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hycon Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: W J Lamb
J Lamb





SECRETARY: W J Lamb





REGISTERED OFFICE: Wyvols Court
Basingstoke Road
Swallowfield
Reading
Berkshire
RG7 1WY





REGISTERED NUMBER: 03316060 (England and Wales)





ACCOUNTANTS: J & C Accountants Ltd
Wyvols Court
Basingstoke Road
Swallowfield
Reading
Berkshire
RG7 1WY

Hycon Limited (Registered number: 03316060)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 728,421 738,656

CURRENT ASSETS
Stocks 595,609 635,109
Debtors 5 407,129 452,068
Cash at bank and in hand 76,694 121,496
1,079,432 1,208,673
CREDITORS
Amounts falling due within one year 6 725,913 876,774
NET CURRENT ASSETS 353,519 331,899
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,081,940

1,070,555

CREDITORS
Amounts falling due after more than
one year

7

(356,290

)

(415,653

)

PROVISIONS FOR LIABILITIES (19,520 ) (22,078 )
NET ASSETS 706,130 632,824

Hycon Limited (Registered number: 03316060)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 5,004 5,004
Capital redemption reserve 5,002 5,002
Retained earnings 696,124 622,818
SHAREHOLDERS' FUNDS 706,130 632,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2024 and were signed on its behalf by:





W J Lamb - Director


Hycon Limited (Registered number: 03316060)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Hycon Limited is a private company, limited by shares, registered in England & Wales. The company's registered number is 03316060. The registered office address is Wyvols Court, Basingstoke Road, Swallowfield, Reading, RG7 1WY. The trading address is 22-25 Kingsclere Business Park, Kingsclere, Hampshire, RG20 4SW

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hycon Limited (Registered number: 03316060)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 650,343 193,925 844,268
Additions - 16,306 16,306
At 31 May 2024 650,343 210,231 860,574
DEPRECIATION
At 1 June 2023 - 105,612 105,612
Charge for year - 26,541 26,541
At 31 May 2024 - 132,153 132,153
NET BOOK VALUE
At 31 May 2024 650,343 78,078 728,421
At 31 May 2023 650,343 88,313 738,656

Hycon Limited (Registered number: 03316060)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 82,134
DEPRECIATION
At 1 June 2023 31,515
Charge for year 10,794
At 31 May 2024 42,309
NET BOOK VALUE
At 31 May 2024 39,825
At 31 May 2023 50,619

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 407,008 452,068
Other debtors 121 -
407,129 452,068

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 291,021 350,708
Hire purchase contracts 17,938 15,978
Trade creditors 149,231 232,167
Taxation and social security 209,378 198,902
Other creditors 58,345 79,019
725,913 876,774

Hycon Limited (Registered number: 03316060)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 330,323 373,708
Hire purchase contracts 25,967 41,945
356,290 415,653

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 157,187 216,172

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
5,000 Ordinary £1 5,000 5,000
4 Ordinary B £1 4 4
5,004 5,004