Company Registration No. 02074338 (England and Wales)
Hydramotion Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Pages For Filing With Registrar
HYDRAMOTION LIMITED
Hydramotion Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 11
HYDRAMOTION LIMITED
Hydramotion Limited
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
35,209
33,168
Tangible assets
4
5,189,303
5,297,213
Investments
5
-
0
1,000
5,224,512
5,331,381
Current assets
Stocks
759,588
766,872
Debtors
6
5,114,116
726,467
Cash at bank and in hand
2,824,817
5,371,171
8,698,521
6,864,510
Creditors: amounts falling due within one year
7
(430,605)
(318,455)
Net current assets
8,267,916
6,546,055
Total assets less current liabilities
13,492,428
11,877,436
Provisions for liabilities
(330,800)
(344,100)
Net assets
13,161,628
11,533,336
Capital and reserves
Called up share capital
195
195
Equity reserve
289,424
440,974
Capital redemption reserve
33
33
Profit and loss reserves
12,871,976
11,092,134
Total equity
13,161,628
11,533,336

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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.

HYDRAMOTION LIMITED
Hydramotion Limited
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 21 August 2025
Mr J G Gallagher
Director
Company Registration No. 02074338
HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information

Hydramotion Limited is a private company limited by shares incorporated in England and Wales. The registered office is Seven Street, York Road Business Park, Malton, North Yorkshire, YO17 6YA.

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 £1.

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

The immediate parent company is Hydramotion Holdings Limited and the ultimate parent company is Dalton Newco 1 Limited. The registered office of Dalton Newco 1 Limited 1 York Road Business Park, Malton, YO17 6YA.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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. 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 (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

Patents and licences
Over the term of the licence
Customer list
10 years straight line
HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
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:

Freehold buildings
2% Straight line
Leasehold property
Over the lease term
Plant and machinery
15% - 33% Reducing balance
Furniture and fittings
15% Reducing balance

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.

1.6
Fixed asset investments

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.9
Cash at bank and in hand

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.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.11
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.

HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.12
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 profit and loss account 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.

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. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 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.

1.13
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.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

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

HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.15
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Monte-Carlo model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

 

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

All share-based payment transactions are over the share capital of the ultimate parent company Dalton Newco 1 Limited, where Hydramotion Limited receives the benefit of employment of those staff.

1.16
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.17
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
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
40
40
HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 8 -
3
Intangible fixed assets
Patents and licences
Customer list
Total
£
£
£
Cost
At 1 December 2023
128,418
7,936
136,354
Additions
5,529
-
0
5,529
At 30 November 2024
133,947
7,936
141,883
Amortisation and impairment
At 1 December 2023
98,422
4,764
103,186
Amortisation charged for the year
2,695
793
3,488
At 30 November 2024
101,117
5,557
106,674
Carrying amount
At 30 November 2024
32,830
2,379
35,209
At 30 November 2023
29,996
3,172
33,168
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2023
4,948,477
1,452,619
6,401,096
Additions
30,830
26,841
57,671
At 30 November 2024
4,979,307
1,479,460
6,458,767
Depreciation and impairment
At 1 December 2023
192,546
911,337
1,103,883
Depreciation charged in the year
68,938
96,643
165,581
At 30 November 2024
261,484
1,007,980
1,269,464
Carrying amount
At 30 November 2024
4,717,823
471,480
5,189,303
At 30 November 2023
4,755,931
541,282
5,297,213
HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 9 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
1,000
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 December 2023
1,000
Disposals
(1,000)
At 30 November 2024
-
Carrying amount
At 30 November 2024
-
At 30 November 2023
1,000
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
804,328
569,935
Other debtors
4,127,588
42,132
4,931,916
612,067
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
182,200
114,400
Total debtors
5,114,116
726,467
HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 10 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
39,878
95,827
Amounts owed to group undertakings
-
0
195
Taxation and social security
369,676
169,152
Other creditors
21,051
53,281
430,605
318,455
8
Share-based payment transactions
Number of share options
Weighted average exercise price
2024
2024
Number
£
Outstanding at 1 December 2023
107,992
1.23
Forfeited
(27,525)
0
1.42
Outstanding at 30 November 2024
80,467
1.16
Exercisable at 30 November 2024
-
0
-
0

On 20 December 2023, 100% of the company's immediate parent Hydramotion Holdings Limited's share capital was acquired by the new ultimate parent entity, Dalton Newco 1 Limited. As a consquence of this transaction, participants of the equity-settled share based payment scheme were offered replacement options in the new parent. Specific accounting treatment applies when replacement awards have been issued. Management have assessed whether the new scheme represents any incremental fair value uplift to the participants and has concluded this is not the case. Thus, the historic fair value charge continues to be recognised over the lifetime of the award.

The options outstanding at 30 November 2024 had an exercise price ranging from £0.01 to £1.42, and a remaining contractual life of 2 years.

 

All options are over the share capital of Dalton Newco 1 Limited, where subsidiary company Hydramotion Limited receives the benefit of employment of those staff.

HYDRAMOTION LIMITED
Hydramotion Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
8
Share-based payment transactions
(Continued)
- 11 -

The Monte-Carlo valuation model has been used to estimate the fair value of each share option granted in the year, with risk-free rates taken from the UK treasury risk free rates. The calculation is not sensitive to any inputs other than the share price on the grant date, and the exercise price.

Inputs were as follows:
2024
Weighted average share price
1,337.82
Weighted average exercise price
1.16
Expected volatility
39.32
Expected life
3.76
Risk free rate
3.23
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
105,196
143,300
10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Director
2.25
-
4,100,000
24,023
4,124,023
-
4,100,000
24,023
4,124,023
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