The director presents his annual report and financial statements for the year ended 31 December 2024.

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Hymid Multi-Shot Limited offers innovative design, precision tool-making, technical single and two-shot plastic injection moulding services to blue chip companies across the Healthcare, Instrumentation, Consumer and Electronics sectors.

Despite the increasingly uncertain global economic environment, the business has successfully focused on increasing the number and value of development and manufacturing supplier partnerships with companies operating in the medical/healthcare sector and instrumentation sectors – markets with high barriers of entry that require Hymid’s niche capabilities/offerings. These routes to market continue to offer the opportunity for higher margin, added value project work and ongoing manufacturing support which reduce operational risk through a diverse customer base and multiple revenue streams.

The pipeline of new business from existing accounts and new projects from new customers remains strong, with our migration away from an over-reliance on one key account, whilst also growing and maintaining profitability. Our growth strategy is founded on a knowledge-based workforce with a service led ethos, generating multiple profitable revenue streams from a diverse customer base, all from a modern, state of the art production facility. As well as securing the company’s immediate future, this leaves Hymid well-positioned to take full advantage of future growth opportunities as an agile and flexible solution provider.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption provided by section 415A of the Companies Act 2006.

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

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.

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

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

Hymid Multi-Shot Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12-16 Woodland Close, Torquay, Devon, TQ2 7BD.

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 modified to include the revaluation of certain plant and machinery. The principal accounting policies adopted are set out below.

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life of 10 years.

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

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

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

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.

During the 2023 accounting period, the directors revised the useful life of larger plant and equipment from 10 years to 15 years.

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, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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

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.

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

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

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.

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

Other intangible assets include capitalised development costs and capital patents and trademarks costs.

Other debtors includes a balance of £543,565 (2023 - £553,890) trade debtors held under an invoice factoring agreement.

The bank loan balance includes £40,000 (2023: £40,000) which is the current portion of the company's Coronavirus Business Interruption Loan. Other bank loans are secured on a fixed and floating charge over the assets of the company.

Included within other creditors are amounts owed under finance lease and hire purchase contracts of £178,446 (2023: £138,904) which are secured on the assets concerned.

The bank loan balance includes £13,333 (2023: £53,333) which is the non- current portion of the company's Coronavirus Business Interruption Loan. Other bank loans are secured on a fixed and floating charge over the assets of the company.

Included within other creditors are amounts owed under finance lease and hire purchase contracts of £340,211 (2023: £398,300) which are secured on the assets concerned.

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

The parent company of Hymid Multi-Shot Limited is Hymid Group Limited, a company registered in England and Wales whose registered office is 12-16 Woodland Close, Torquay TQ2 7BD.