Registration number: 06078286 (England and Wales)

Hydrair Limited

Contents

Hydrair Limited

Company Information

Hydrair Limited

Strategic Report for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

Fair review of the business

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.

The principal activities of the company are the manufacture and suppply of pumps and equipment for the dispensation of ink and other materials to the graphics and industrial market.

Financial performance indicators have been selected that reflect the strength of the company as a whole including turnover, gross profit margin and operating profit.

Sales have decreased by 38.42% (2023: decreased by 33.99%). Gross profit margin has decreased to 28.40% compared to the previous year of 31.14%. Operating loss amounts to £27,030 compared to an operating loss of £5,800 last year. Loss after tax was £29,190 (2023: loss after tax of £6,526).

At the year end, shareholders funds were £427,564 in debit (2023: £398,474 in debit).
The business environment in which we operate continues to be challenging. We face competition from companies both inside and outside the UK. We are also affected by consumer spending patterns and choices.

Results
The results for the year are set out on page 8.

Future developments

The company is continuing to investigate new products and markets and will be endeavouring to expand its trading activities. It is anticipated that there may be reduction in income as customers are looking to cut back on costs and spending on equipment due to the difficult economic conditions. The company's management team is dedicated to maintaining and extending the improvements in customer services, quality and productivity.




 

Hydrair Limited

Strategic Report for the Year Ended 31 December 2024 (continued)

Principal risks and uncertainties

All businesses face a range of risks and uncertainties, being subject to hazards from internal and external sources. The company undertakes regular risk assessments and the likelihood and significance of risk factors are considered to ensure risk mitigation.

UK economic performance
The UK economy continues to suffer from reduced consumer spending and rising unemployment. The operational leverage is such that any deterioration in sales performance may have a disproportionate reduction in profitability. The company mitigates this by continuous monitoring of costs. In addition, the company is aggressively pursuing work and orders from new and existing customers.

Brexit risk
Along with many businesses, uncertainty continues about Brexit together with associated risks which aare being monitored by the company. The company has developed change plans to ensure that it is well placed to operate effectively based on a range of potential scenarios.

Availability of credit
The availability of credit for consumers and businesses has fallen considerably. Thus there is possibility of bad debts. However, this risk is mitigated by the maintenance of cash reserves and through agreements with customers regarding payment terms and credit facilities. Extended credit terms are agreed with suppliers where possible.

Exchange rate fluctuations
Exchange rate fluctuations have had, and continue to have a material impact on the company's operating results. The global financial crisis has led to increased volatility in exchange rates which makes it harder to predict exchange rates and thus perform financial planning. Thus the company only monitors closely the foreign exchange market to try and mitigate this risk.

Approved and authorised by the Board on 16 September 2025 and signed on its behalf by:
 

Hydrair Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

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

Mr John Fletcher

Mrs Wendy Fletcher - Company secretary and director

Review of business, future developments, principal risks and uncertainities
A review of business, future developments, principal risks and uncertainties is detailed on pages 2 to 3 of the Strategic Report.

Employee involvement

Employment of disabled persons

Approved and authorised by the Board on 16 September 2025 and signed on its behalf by:
 

Small companies provision statement

Going concern

The company’s review of business, together with the factors likely to affect its future development and the principal risks and uncertainties are described in the Strategic Report on pages 2 to 3. The company has net liabilities of £427,564 as at 31 December 2024. The holding company, Linter Holdings Ltd, has agreed to support the company and not demand full repayment of the amounts due to it until such time that the company can afford to make repayments. On this basis, the directors are of the opinion that the company can meet its day to day working capital requirements They also believe that the company is well placed to manage its business risks despite the current uncertain economic outlook and has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Hydrair 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 company and of the profit or loss of the company 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 company's transactions and disclose with reasonable accuracy at any time the financial position of 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hydrair Limited
for the Year Ended 31 December 2024

independent chartered accountants’ review report to the directors of Hydrair Limited

We have reviewed the financial statements of Hydrair Limited for the year ended 31 December 2024, which comprise the profit and loss account, balance sheet, cash flow statement and the related notes 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 (United Kingdom Generally Accepted Accounting Practice).

Directors’ responsibility for the financial statements

As explained more fully in the Directors’ Responsibilities Statement [set out on pages 5), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants’ responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised),Engagements to review historical financial statementsand ICAEW Technical Release TECH 09/13AAF (Revised)Assurance review engagements on historical financial statements (2019). ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with the [applicable financial reporting framework]. ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics [and the FRC’s Ethical Standard, as applicable].

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures, and evaluating the evidence obtained.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

So as to give a true and fair view of the state of the company’s affairs as at 31 December 2024 and of its loss for the year then ended;

in accordance with applicable accounting standards; and

in accordance with the requirements of the Companies Act 2006.

Use of our report

This report is made solely to the company’s directors, as a body, in accordance with the terms of our engagement letter dated 15 July 2024. Our review has been undertaken so that we may state to the company’s directors those matters we have agreed to state to them in a reviewer’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 company and the company’s directors as a body, for our review work, for this report, or for the conclusions we have formed.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hydrair Limited
for the Year Ended 31 December 2024 (continued)

Howard Gross

Gross Klein

Chartered Accountants

5 St John’s Lane

London EC1M 4BH

Date

Hydrair Limited

Profit and Loss Account for the Year Ended 31 December 2024

Hydrair Limited

Statement of Comprehensive Income for the Year Ended 31 December 2024

Hydrair Limited

(Registration number: 06078286)
Balance Sheet as at 31 December 2024

Directors' responsibilities:

Approved and authorised by the Board on 16 September 2025 and signed on its behalf by:
 

Hydrair Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Hydrair Limited

Statement of Cash Flows for the Year Ended 31 December 2024

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Hydrair Limited is a limited liability company incorporated in England. The Registered Office is C/O Gross Klein, 5 St. John's Lane, London EC1M 4BH.

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" (FRS 102) and the Companies Act 2006.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

Revenue recognition

Government grants

Grants are accounted for under accruals model as permitted by FR102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Foreign currency transactions and balances

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are recognised in the income statement.

Tax

Tangible fixed assets

The assets' residual values, useful lives and depreciation methods are reviewed annually, and adjusted if appropriate, at each balance sheet date. The effect of any change is accounted for prospectively.

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Property, plant and equipment are reviewed for impairment whenever there are events that indicate that an impairment may have occurred. An impairment loss is recognised if an asset’s carrying amount exceeds the greater of its value in use and fair value less costs to sell. Impairment losses are recognised in profit or loss.

Goodwill

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Cash and cash equivalents

Trade debtors

Stocks

Trade creditors

Leases

Share capital

Dividends

Defined contribution pension obligation

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Financial instruments - classification
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. The company only enters into basic financial instrument transactions. Financial assets and liabilities are offset, with the net amount presented in the financial statement, when there is a legally enforceable right to set off the recognised amounts and there is an intenetion to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Financial instruments - recognition and measurement
Basic financial assets, which include trade debtors, amounts owed by related parties, other debtors, gross amount due from customers for contract work and cash at bank and in hand, are intially measured at transaction price including transaction costs and are subsequently carried at amortised cost using effective interest method unless the arrangement constitues 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.

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 ownsership 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.

Basic financial liabilities, including trade creditors, amounts due to related parties, other payables, accruals and gross amount due to customers for contract work that are classified as debt, are intially recognised at transaction price unless the arrangement consitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classsified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Financial instruments - impairment
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.

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

The analysis of the company's revenue for the year from continuing operations is as follows:

The analysis of the company's turnover for the year by market is as follows:

Arrived at after charging/(crediting)

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

The aggregate payroll costs (including directors' remuneration) were as follows:

The average number of employees during the year were as follows:

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Tax charged/(credited) in the profit and loss account

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	175,000	175,000
At 31 December 2024	175,000	175,000
Amortisation
At 1 January 2024	175,000	175,000
At 31 December 2024	175,000	175,000
Carrying amount
At 31 December 2024	-	-

9	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	31,206	18,224	26,651	76,081
At 31 December 2024	31,206	18,224	26,651	76,081
Depreciation
At 1 January 2024	31,206	17,633	4,997	53,836
Charge for the year	-	544	6,663	7,207
At 31 December 2024	31,206	18,177	11,660	61,043
Carrying amount
At 31 December 2024	-	47	14,991	15,038
At 31 December 2023	-	591	21,654	22,245

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £5,923 (2023 - £8,114).

Allotted, called up and fully paid shares

Samoa Industrial SA
This is a related party by virtue of common control. During the year, the sales to Samoa Industrial SA were £4,414 (2023: £4,135). Purchases from Samoa Industrial SA were £824 (2023: £1,376).
At the Balance Sheet date, the balances with Samoa Industrial SA were as follows:
Amount receivable of £88 (2023: £2,438). Amount payable was £nil (2023: £1,376).
 

Hydrair Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Samoa Flowtech (formelyBetz Flow GmbH)
This is a related party by virtue of common control. During the year, the sales to Samoa Flowtech were £nil (2023: £30,846). Purchases from Samoa Flowtech were £2,282 (2023: £1.659)
At the Balance Sheet date, the balances with Samoa Flowtech were as follows:
Amount receivable of £nil (2023: £16,276).
Amount payable of £nil (2023: £nil).


 

The transactions with the related parties of the company are as follows:

Linter Holdings Limited
This is the immediate parent company. Interest payable to Linter Holdings Limited during the year was £12,724 (2023: £12,724). The amount payable, as at the Balance Sheet date, was £661,639 (2024: £648,915).

Alentec Orion Limited
This is a related party by virtue of common control. During the year, the sales to Alentec Orion Limited were £50,508 (2023: £142,501).
Amount receivable of £15,337 (2023: £26,613);
Amount payable of £3,670 (2023: £4,800).

Samoa Limited
This is a related party by virtue of common control. During the year, sales to Samoa Limited were £9,169 (2023: £5,845). Purchases of £3,970 (2023 £nil) were made from Samoa Limited. Accountancy services charged by Samoa Limited were £7,200 (2023: £7,200).
Amount receivable of £2,532 (2023: £4,744)
Amount payable of £5,253 (2023: £2,023).

The company's immediate parent is Linter Holdings Limited, incorporated in England and Wales.

 The ultimate controlling party is Gonzalez-Moratiel Family.