Hystat Holdings Limited

Strategic Report for the Year Ended 28 February 2025

The directors present their strategic report for the year ended 28 February 2025.

Principal activity

The principal activity of the group is the sale, design, manufacture and repair of special hydraulic cylinders and piston accumulators for the heavy engineering industry.

Fair review of the business

The profit and loss account set out on page 9 shows turnover for the year of £13,381,970 (2024 - £14,132,235) and a profit after taxation for the year of £1,183,683 (2024 - £862,567).

Total group turnover decreased by 5.3% in comparison with the prior year. Gross profit as a percentage of turnover increased from 33.6% to 39.0%. Manufacturing costs remain subject to stringent scrutiny and have been reduced wherever possible with cost of sales decreasing as a percentage of turnover. Administrative expenses have increased by 6.9% and have increased as a percentage of turnover from 24.1% to 27.2%.

Principal risks and uncertainties

The main financial risks arising from the group’s activities are credit risk and liquidity risk. These are monitored by the board of directors.

The group’s credit risk is primarily attributable to its trade debtors. Credit risk is managed through credit insurance, credit checks on new and existing customers and by monitoring payments against contractual terms.

The group’s liquidity risk is managed through a mixture of long and short term debt finance and readily accessible bank accounts to ensure that the company has sufficient funds to manage its day to day operations.

Approved and authorised by the Board on 13 August 2025 and signed on its behalf by:
 

Hystat Holdings Limited

Directors' Report for the Year Ended 28 February 2025

The directors present their report and the for the year ended 28 February 2025.

Directors of the group

The directors who held office during the year were as follows:

SJ Wadsworth

RA Wadsworth

PM Wadsworth

T Wadsworth

Disclosure of information to the auditor

Approved and authorised by the Board on 13 August 2025 and signed on its behalf by:
 

Hystat Holdings Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Hystat Holdings Limited

Independent Auditor's Report to the Members of Hystat Holdings Limited

Opinion

We have audited the financial statements of Hystat Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Hystat Holdings Limited

Independent Auditor's Report to the Members of Hystat Holdings Limited

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

Hystat Holdings Limited

Independent Auditor's Report to the Members of Hystat Holdings Limited

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

• Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Hystat Holdings Limited

Independent Auditor's Report to the Members of Hystat Holdings Limited

Use of our report

This report is made solely to the parent company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
(Senior Statutory Auditor)
For and on behalf of Balance Accountants, Statutory Auditor
 Victoria Court
91 Huddersfield Road
Holmfirth
West Yorkshire
HD9 3JA

13 August 2025

Hystat Holdings Limited

Consolidated Profit and Loss Account for the Year Ended 28 February 2025

The group has no recognised gains or losses for the year other than the results above.

Hystat Holdings Limited

Consolidated Statement of Comprehensive Income for the Year Ended 28 February 2025

Hystat Holdings Limited

(Registration number: 11769670)
Consolidated Balance Sheet as at 28 February 2025

Approved and authorised by the Board on 13 August 2025 and signed on its behalf by:
 

Hystat Holdings Limited

(Registration number: 11769670)
Balance Sheet as at 28 February 2025

The company made a profit after tax for the financial year of £640,058 (2024 - profit of £1,310,321).

Approved and authorised by the Board on 13 August 2025 and signed on its behalf by: