Silverfin false false 31/05/2024 01/06/2023 31/05/2024 K Hanson 08/03/1991 A Jones 15/09/2020 A Nellins 31/05/2024 15/09/2020 R Sonoga 23/07/2018 25 January 2025 The principal activity of the Company during the financial year was that of specialist hydro-power design and consultancy services. 02584011 2024-05-31 02584011 bus:Director1 2024-05-31 02584011 bus:Director2 2024-05-31 02584011 bus:Director3 2024-05-31 02584011 bus:Director4 2024-05-31 02584011 2023-05-31 02584011 core:CurrentFinancialInstruments 2024-05-31 02584011 core:CurrentFinancialInstruments 2023-05-31 02584011 core:ShareCapital 2024-05-31 02584011 core:ShareCapital 2023-05-31 02584011 core:RetainedEarningsAccumulatedLosses 2024-05-31 02584011 core:RetainedEarningsAccumulatedLosses 2023-05-31 02584011 core:Goodwill 2023-05-31 02584011 core:Goodwill 2024-05-31 02584011 core:LandBuildings 2023-05-31 02584011 core:LeaseholdImprovements 2023-05-31 02584011 core:Vehicles 2023-05-31 02584011 core:FurnitureFittings 2023-05-31 02584011 core:LandBuildings 2024-05-31 02584011 core:LeaseholdImprovements 2024-05-31 02584011 core:Vehicles 2024-05-31 02584011 core:FurnitureFittings 2024-05-31 02584011 core:CostValuation 2023-05-31 02584011 core:CostValuation 2024-05-31 02584011 2023-06-01 2024-05-31 02584011 bus:FilletedAccounts 2023-06-01 2024-05-31 02584011 bus:SmallEntities 2023-06-01 2024-05-31 02584011 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 02584011 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02584011 bus:Director1 2023-06-01 2024-05-31 02584011 bus:Director2 2023-06-01 2024-05-31 02584011 bus:Director3 2023-06-01 2024-05-31 02584011 bus:Director4 2023-06-01 2024-05-31 02584011 core:Goodwill core:TopRangeValue 2023-06-01 2024-05-31 02584011 core:LandBuildings 2023-06-01 2024-05-31 02584011 core:LeaseholdImprovements core:TopRangeValue 2023-06-01 2024-05-31 02584011 core:Vehicles 2023-06-01 2024-05-31 02584011 core:FurnitureFittings 2023-06-01 2024-05-31 02584011 2022-06-01 2023-05-31 02584011 core:Goodwill 2023-06-01 2024-05-31 02584011 core:LeaseholdImprovements 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 02584011 (England and Wales)

HYDRO-GEN LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

HYDRO-GEN LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

HYDRO-GEN LIMITED

BALANCE SHEET

As at 31 May 2024
HYDRO-GEN LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 2,509
Tangible assets 4 238,791 204,153
Investments 5 277,439 277,439
516,230 484,101
Current assets
Stocks 6 322,400 256,000
Debtors 7 610,613 1,294,543
Cash at bank and in hand 324,653 89,367
1,257,666 1,639,910
Creditors: amounts falling due within one year 8 ( 196,489) ( 257,324)
Net current assets 1,061,177 1,382,586
Total assets less current liabilities 1,577,407 1,866,687
Provision for liabilities ( 27,180) ( 33,433)
Net assets 1,550,227 1,833,254
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,550,127 1,833,154
Total shareholder's funds 1,550,227 1,833,254

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Hydro-Gen Limited (registered number: 02584011) were approved and authorised for issue by the Board of Directors on 25 January 2025. They were signed on its behalf by:

K Hanson
Director
HYDRO-GEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
HYDRO-GEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
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.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 reducing balance or straight line basis over its expected useful life, as follows:

Land and buildings 15 % reducing balance
Leasehold improvements 10 years straight line
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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 17

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 June 2023 57,600 57,600
At 31 May 2024 57,600 57,600
Accumulated amortisation
At 01 June 2023 55,091 55,091
Charge for the financial year 2,509 2,509
At 31 May 2024 57,600 57,600
Net book value
At 31 May 2024 0 0
At 31 May 2023 2,509 2,509

4. Tangible assets

Land and buildings Leasehold improve-
ments
Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 June 2023 13,200 0 155,230 537,049 705,479
Additions 39,160 13,429 10,570 31,486 94,645
Disposals 0 0 ( 18,250) 0 ( 18,250)
At 31 May 2024 52,360 13,429 147,550 568,535 781,874
Accumulated depreciation
At 01 June 2023 495 0 71,277 429,554 501,326
Charge for the financial year 3,644 138 21,984 32,940 58,706
Disposals 0 0 ( 16,949) 0 ( 16,949)
At 31 May 2024 4,139 138 76,312 462,494 543,083
Net book value
At 31 May 2024 48,221 13,291 71,238 106,041 238,791
At 31 May 2023 12,705 0 83,953 107,495 204,153

5. Fixed asset investments

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 June 2023 277,439 277,439
At 31 May 2024 277,439 277,439
Carrying value at 31 May 2024 277,439 277,439
Carrying value at 31 May 2023 277,439 277,439

6. Stocks

2024 2023
£ £
Work in progress 322,400 256,000

7. Debtors

2024 2023
£ £
Trade debtors 314,787 705,011
Amounts owed by Group undertakings 252,199 558,138
Other debtors 43,627 31,394
610,613 1,294,543

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 20,221 31,163
Other taxation and social security 93,595 133,892
Other creditors 82,673 92,269
196,489 257,324