REGISTERED NUMBER: 04302081 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE WATER HYDRAULICS CO. LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T Markham

SECRETARY:

Mr T Markham

REGISTERED OFFICE:

Alexandra House

English Street

Hull

HU3 2DJ

REGISTERED NUMBER:

04302081 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

456,771

404,799

456,772

404,800

CURRENT ASSETS

Stocks

1,083,060

773,586

Debtors

6

300,435

323,780

Cash at bank and in hand

1,405,182

1,307,529

2,788,677

2,404,895

CREDITORS

Amounts falling due within one year

7

665,247

455,660

NET CURRENT ASSETS

2,123,430

1,949,235

TOTAL ASSETS LESS CURRENT LIABILITIES

2,580,202

2,354,035

CREDITORS

Amounts falling due after more than one year

8

(190,830

)

(165,602

)

PROVISIONS FOR LIABILITIES

(25,734

)

(9,836

)

NET ASSETS

2,363,638

2,178,597

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,363,636

2,178,595

SHAREHOLDERS' FUNDS

2,363,638

2,178,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 by the director and authorised for issue on 29 September 2025 and were signed by:

Mr T Markham - Director

1.	STATUTORY INFORMATION

The Water Hydraulics Co. Ltd is a private company, limited by shares, registered in England. The company's registered number is 04302081 and it has its registered office address and principal place of business at Alexandra House, English Street, Hull, HU3 2DJ.

The financial statements are presented in sterling, which is the functional currency of the company and covers the individual entity only.

The principal activity of the company is the manufacture and development of pumps, motors and water hydraulic valves.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount receivable for the provision of goods and services falling within the company's ordinary activities excluding value added tax and trade discounts.

Turnover from the provision of goods is recognised when the risks and rewards of ownership of goods have been transferred to the customer. The risk and rewards of ownership of goods are deemed to have been transferred when the goods are shipped to, or picked up by, the customer.

Turnover from services are recognised when the service provided to the customer has been completed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Other intangible assets

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

Other intangible assets - 10% on cost

Tangible fixed assets

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

Land and buildings

-

2% on cost excluding land

Plant and machinery etc

-

25% on cost, 15% on cost and 10% on cost

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving item. Cost is determined on a first in, first out basis.

Work in progress is valued at cost, which includes outlays incurred on behalf of the customer and appropriate proportion of directly attributable costs and overheads on incomplete assignments. Provision is made for irrecoverable costs where appropriate.

Taxation

Taxation 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for the current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

1

6,602

6,603

AMORTISATION

At 1 January 2024

and 31 December 2024

-

6,602

6,602

NET BOOK VALUE

At 31 December 2024

1

-

1

At 31 December 2023

1

-

1

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

422,322

273,817

696,139

Additions

6,960

70,208

77,168

Disposals

-

(3,827

)

(3,827

)

At 31 December 2024

429,282

340,198

769,480

DEPRECIATION

At 1 January 2024

69,296

222,044

291,340

Charge for year

6,152

19,044

25,196

Eliminated on disposal

-

(3,827

)

(3,827

)

At 31 December 2024

75,448

237,261

312,709

NET BOOK VALUE

At 31 December 2024

353,834

102,937

456,771

At 31 December 2023

353,026

51,773

404,799

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

101,138

254,324

Amounts owed by related parties

127,838

36,260

Other debtors

71,459

33,196

300,435

323,780

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

19,812

17,420

Hire purchase contracts (see note 9)

6,556

-

Trade creditors

294,550

129,487

Taxation and social security

51,723

29,753

Other creditors

292,606

279,000

665,247

455,660

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

153,735

165,602

Hire purchase contracts (see note 9)

37,095

-

190,830

165,602

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

69,249

89,003

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

6,556

-

Between one and five years

37,095

-

43,651

-

Non-cancellable

operating leases

2024

2023

£

£

Within one year

34,926

40,681

Between one and five years

10,609

43,065

45,535

83,746

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

173,547

183,022

The bank balances are secured by a legal charge dated 25th January 2011 and a mortgage debenture dated 19th January 2011 incorporating a fixed and floating charge over all current and future assets of the company.

11.	RELATED PARTY DISCLOSURES

Included within other creditors as at 31st December 2024 is the following amount owing to the directors.

T Markham

At the balance sheet date, a T Markham owed the company £42,705 (2023: (£154)). Interest has been charged on the balance at the office rate.

Armak Limited

Included in debtors due within one year are transaction with Armak Ltd, a company which T Markham is a director and shareholder.

The amount due from Armak Ltd at 31st December 2024 was £127,838 (2023 £36,260). Sales of £934,454, management charges of £88,086 and purchase of materials of £0 were made during the year.

All the above transactions were undertaken at arm's length on normal commercial terms.