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Registration number: 10866164

Hydrov Submersible Surveys Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Hydrov Submersible Surveys Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Hydrov Submersible Surveys Ltd

Company Information

Director

Mrs Nicola Jayne Longley

Registered office

20 Low Cudworth Green
Cudworth
Barnsley
South Yorkshire
S72 8EF

Accountants

Thorntons Accounting Limited
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

Hydrov Submersible Surveys Ltd

(Registration number: 10866164)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

22,595

49,215

Current assets

 

Stocks

5

25,000

21,320

Debtors

6

734,624

810,224

Cash at bank and in hand

 

575,970

554,587

 

1,335,594

1,386,131

Creditors: Amounts falling due within one year

7

(1,196,105)

(1,123,783)

Net current assets

 

139,489

262,348

Net assets

 

162,084

311,563

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

162,082

311,561

Shareholders' funds

 

162,084

311,563

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 February 2025
 

 

Hydrov Submersible Surveys Ltd

(Registration number: 10866164)
Balance Sheet as at 31 December 2024

.........................................
Mrs Nicola Jayne Longley
Director

 

Hydrov Submersible Surveys Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
20 Low Cudworth Green
Cudworth
Barnsley
South Yorkshire
S72 8EF

These financial statements were authorised for issue by the director on 27 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hydrov Submersible Surveys Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% on Cost

Plant and Machinery

20 % on Cost

Fixtures and fittings

10% on Cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Hydrov Submersible Surveys Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Hydrov Submersible Surveys Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 6).

 

Hydrov Submersible Surveys Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

26,169

71,820

66,014

164,003

Additions

1,960

-

-

1,960

Disposals

-

(32,820)

(2,790)

(35,610)

At 31 December 2024

28,129

39,000

63,224

130,353

Depreciation

At 1 January 2024

13,010

52,492

49,286

114,788

Charge for the year

2,813

6,200

6,439

15,452

Eliminated on disposal

-

(19,692)

(2,790)

(22,482)

At 31 December 2024

15,823

39,000

52,935

107,758

Carrying amount

At 31 December 2024

12,306

-

10,289

22,595

At 31 December 2023

13,159

19,328

16,728

49,215

5

Stocks

2024
£

2023
£

Work in progress

-

1,320

Other inventories

25,000

20,000

25,000

21,320

6

Debtors

2024
£

2023
£

Trade debtors

733,424

810,224

Other debtors

1,200

-

734,624

810,224

 

Hydrov Submersible Surveys Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

115,266

120,096

Taxation and social security

226,419

248,385

Accruals and deferred income

3,000

3,100

Other creditors

851,420

752,202

1,196,105

1,123,783

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

Ordinary B Shares of £1 each

1

1

1

1

2

2

2

2

 

Hydrov Submersible Surveys Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Related party transactions

Assets are leased from parent company to subsidiary at a market value, where a reasonable market value is not available they are leased at a value agreed by the directors of all parties

Summary of transactions with parent

Hydrov Holdings Ltd
 

Expenditure with and payables to related parties

2024

Parent
£

Leases

112,200

2023

Parent
£

Leases

81,300

Loans from related parties

2024

Parent
£

Total
£

At start of period

750,000

750,000

Advanced

100,000

100,000

At end of period

850,000

850,000

10

Parent and ultimate parent undertaking

The company's immediate parent is Hydrov Holdings Ltd, incorporated in England & Wales.