Company Registration No. 09473860 (England and Wales)
Hydrotec Overseas Limited
Unaudited financial statements
for the year ended 31 December 2024
Pages for filing with the registrar
Hydrotec Overseas Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Hydrotec Overseas Limited
Statement of financial position
As at 31 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
147
Current assets
Stocks
38,785
65,611
Debtors
5
519,975
299,423
Cash at bank and in hand
10,148
112,974
568,908
478,008
Creditors: amounts falling due within one year
6
(777,640)
(688,123)
Net current liabilities
(208,732)
(210,115)
Net liabilities
(208,732)
(209,968)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(208,832)
(210,068)
Total equity
(208,732)
(209,968)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 5 August 2025 and are signed on its behalf by:
Mayuri Lakhani
Director
Company Registration No. 09473860
Hydrotec Overseas Limited
Notes to the financial statements
For the year ended 31 December 2024
2
1
Accounting policies
Company information

Hydrotec Overseas Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Manor Courtyard, Hughenden Avenue, High Wycombe, HP13 5RE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer on dispatch of the goods.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

Hydrotec Overseas Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
3
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Hydrotec Overseas Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
4
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Going concern

The company is dependent upon the support of certain fellow subsidiaries in order to continue to trade. These companies have confirmed that they do not intend to seek payment of amounts due until such time as the company can afford to make payment. The directors therefore believe that it is appropriate to prepare the accounts on a going concern basis.

3
Employees

The company does not directly employ any individuals. Work carried out by individuals employed by other group companies is accounted for through a management charge.

2024
2023
Number
Number
Total
-
0
-
0
Hydrotec Overseas Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
5
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
530
Depreciation and impairment
At 1 January 2024
383
Depreciation charged in the year
147
At 31 December 2024
530
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
147
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
114,471
246,606
Amounts owed by group undertakings
395,039
26,630
Other debtors
10,465
26,187
519,975
299,423
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
32,702
24,809
Amounts owed to group undertakings
689,410
529,841
Corporation tax
300
-
0
Other creditors
55,228
133,473
777,640
688,123

Included within other creditors is an amount of £47,539 (2023: £129,673) which is secured.

Hydrotec Overseas Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
6
7
Financial commitments, guarantees and contingent liabilities

At the year end, the company was party to an unlimited cross party guarantee with Hydrotec (UK) Limited, Hydrotec Contracts Limited, and Hydrotec International Water Treatment Limited guaranteeing the obligations of each other to the bank. At the year end amounts owed related to this guarantee not included in the balance sheet of Hydrotec Overseas Limited to HSBC Bank Plc is £744,602 (2023 - £754,584). This amount is secured by a fixed and floating charge over all assets of the company.

8
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
63,137
67,655
Fellow subsidiaries
626,273
462,186

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Directors
24
865
Fellow subsidiaries
395,039
26,630
9
Parent company

Hydrotec Overseas Limited is a wholly owned subsidiary of Hydrotec International Water Treatment Limited, whose registered office is 38 Main Street, Swords, Co. Dublin, Ireland, K67 EOA2.

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