2024-04-012025-03-312025-03-31false12337354HUSTLER EQUIPMENT UK 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HUSTLER EQUIPMENT UK LIMITED

Registered Number
12337354
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

HUSTLER EQUIPMENT UK LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

CURRIE, Brent Adrian

Registered Address

C/O Smooth Accounting Limited Building 1000 Lakeside North Harbour
Western Road
Portsmouth
PO6 3EN

Registered Number

12337354 (England and Wales)
HUSTLER EQUIPMENT UK LIMITED
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3-79,488
Investments4-834,495
-913,983
Current assets
Stocks5-674,199
Debtors-130,060
Cash at bank and on hand-118,161
-922,420
Creditors amounts falling due within one year6-(2,616,507)
Net current assets (liabilities)-(1,694,087)
Total assets less current liabilities-(780,104)
Creditors amounts falling due after one year7-(27,520)
Net assets-(807,624)
Capital and reserves
Called up share capital11
Profit and loss account(1)(807,625)
Shareholders' funds-(807,624)
The financial statements were approved and authorised for issue by the Director on 26 June 2025, and are signed on its behalf by:
CURRIE, Brent Adrian
Director
Registered Company No. 12337354
HUSTLER EQUIPMENT UK LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the director has decided to cease trade immediately. The company is, therefore, no longer a going concern due to cessation of trade.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20252024
Average number of employees during the year46
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 2443,15890,6069,553143,317
Disposals(43,158)(90,606)(9,553)(143,317)
Depreciation and impairment
At 01 April 2418,88840,6614,28063,829
On disposals(18,888)(40,661)(4,280)(63,829)
Net book value
At 31 March 25----
At 31 March 2424,27049,9455,27379,488
4.Fixed asset investments

Loans to groups1

Total

££
Cost or valuation
At 01 April 24834,495834,495
Disposals(834,495)(834,495)
Net book value
At 31 March 25--
At 31 March 24834,495834,495

Notes

1Loans to group undertakings and participating interests
5.Stocks

2025

2024

££
Finished goods-674,199
Total-674,199
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables-3,869
Bank borrowings and overdrafts-22,878
Amounts owed to related parties-2,528,608
Taxation and social security-29,227
Other creditors-31,925
Total-2,616,507
7.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts-27,520
Total-27,520
8.Related party transactions
The following loans to Related Parties were repaid during the year: Loan to Hustler Equipment Europe - FY2024 £nil (FY2023: £785,074) Loan to Hustler USA - FY2024 £nil (FY2023: £34,674) Loan to Hustler Agrivert - FY2024 £nil (FY2023: £14,747) The following loans from Related Parties were written off during the year: Hustler International - FY2024 £nil, total of £939,633 written off, the remaining balance was repaid (FY2023: £2,528,608)