REGISTERED NUMBER: 08590426 (England and Wales)

HYDROWARE (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Debtors

5

187,898

212,199

Cash at bank

132,811

134,919

320,709

347,118

CREDITORS

Amounts falling due within one year

6

61,599

133,199

NET CURRENT ASSETS

259,110

213,919

TOTAL ASSETS LESS CURRENT LIABILITIES

259,110

213,919

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

259,109

213,918

SHAREHOLDERS' FUNDS

259,110

213,919

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:

M Golder - Director

1.	STATUTORY INFORMATION

Hydroware (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08590426

Registered office:

3 Weekley Wood Close

Kettering

Northamptonshire

NN14 1UQ

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Comparative period

The company changed its accounting reference date in the last period to align with group undertakings, as a consequence the prior period reporting is for an eight month period and will not be comparable to the prior financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar taxes. The policy adopted for the recognition of turnover is as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from commissions is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to completed sales at the transacted date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Debtors and creditors

Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 January 2024

26,513

Disposals

(26,513

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

26,513

Eliminated on disposal

(26,513

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

5,700

2,760

Amounts owed by group undertakings

142,647

183,546

Other debtors

18,895

12,951

Deferred tax

1,884

2,005

VAT

4,221

1,475

Prepayments and accrued income

14,551

9,462

187,898

212,199

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,062

867

Corporation tax

15,496

19,944

Social security and other taxes

15,673

16,344

Other creditors

3,479

3,423

Accruals and deferred income

23,889

92,621

61,599

133,199

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1.00

1

1

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Ian Baker FCCA (Senior Statutory Auditor)

for and on behalf of CFW Accountants LLP

9.	OTHER FINANCIAL COMMITMENTS

For the current year there are financial commitments not included within the balance sheet in the form of operating leases amounting to £95,478 (2023 - £54,490).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company made an advance to a director amounting to £2,500 in respect of an "expenses float". No interest is payable and the loan is repayable upon demand.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Hydroware AB.

The ultimate controlling party is Zyllyp HoldCo AB.

The ultimate controlling parties registered office is Box 5745, 11487, Stockholm, Sweden.