Company No: 02509057 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	G Kelley
	D M MacBain

Registered office	11 Stirling Park
	Laker Road
	Rochester
	Kent
	ME1 3QR
	United Kingdom

Company number

02509057 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor, Maritime Place
	Quayside
	Chatham Maritime
	Chatham
	Kent
	ME4 4QZ

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hydraflex Plumbing & Cooling Hoses Limited for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes 1 to 11 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Hydraflex Plumbing & Cooling Hoses Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hydraflex Plumbing & Cooling Hoses Limited. You consider that Hydraflex Plumbing & Cooling Hoses Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Hydraflex Plumbing & Cooling Hoses Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Hydraflex Plumbing & Cooling Hoses Limited, as a body, in accordance with the terms of our engagement letter dated 09 April 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Hydraflex Plumbing & Cooling Hoses Limited and state those matters that we have agreed to state to the Board of Directors of Hydraflex Plumbing & Cooling Hoses Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hydraflex Plumbing & Cooling Hoses Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ

25 September 2025

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	82,439		81,474
		82,439		81,474
Current assets
Stocks	4	527,357		661,456
Debtors	5	1,254,665		693,359
Cash at bank and in hand	6	945,232		588,805
		2,727,254		1,943,620
Creditors: amounts falling due within one year	7	( 2,214,163)		( 1,494,185)
Net current assets		513,091		449,435
Total assets less current liabilities		595,530		530,909
Provision for liabilities	8	( 14,277)		( 12,775)
Net assets		581,253		518,134
Capital and reserves
Called-up share capital	9	18,850		18,850
Capital redemption reserve		11,250		11,250
Profit and loss account		551,153		488,034
Total shareholders' funds		581,253		518,134

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Hydraflex Plumbing & Cooling Hoses Limited (registered number: 02509057) were approved and authorised for issue by the Board of Directors on 25 September 2025. They were signed on its behalf by:

D M MacBain Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hydraflex Plumbing & Cooling Hoses Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 11 Stirling Park,Laker Road, Rochester, Kent, ME1 3QR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	15 % reducing balance
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	15 % reducing balance
Office equipment	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	17		19

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	46,645		100,957		87,295		67,611		81,463		383,971
Additions	0		7,722		0		11,364		0		19,086
At 31 December 2024	46,645		108,679		87,295		78,975		81,463		403,057
Accumulated depreciation
At 01 January 2024	42,555		91,445		33,329		57,815		77,353		302,497
Charge for the financial year	614		1,929		13,492		1,469		617		18,121
At 31 December 2024	43,169		93,374		46,821		59,284		77,970		320,618
Net book value
At 31 December 2024	3,476		15,305		40,474		19,691		3,493		82,439
At 31 December 2023	4,090		9,512		53,966		9,796		4,110		81,474

4. Stocks

	2024		2023
	£		£
Stocks	527,357		661,456

5. Debtors

	2024		2023
	£		£
Trade debtors	1,131,342		603,006
Prepayments	117,898		75,948
Other debtors	5,425		14,405
	1,254,665		693,359

6. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	945,232		588,805

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	514,103		232,978
Amounts owed to directors	764,380		488,362
Other loans	332,631		120,938
Accruals	106,548		54,531
Corporation tax	165,047		95,065
Other taxation and social security	73,550		115,151
Other creditors	257,904		387,160
	2,214,163		1,494,185

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 12,775)		( 16,460)
(Charged)/credited to the Statement of Income and Retained Earnings	( 1,502)		3,685
At the end of financial year	( 14,277)		( 12,775)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 14,277)		( 12,775)

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
18,750 Ordinary A shares of £ 1.00 each	18,750		18,750
100 Ordinary B shares of £ 1.00 each	100		100
	18,850		18,850

10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	2,438		2,285

The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,560 (2023: £9,893).

11. Related party transactions

At the year end, the company had outstanding trading balances with entities under common control, including a receivable of £5,425 from Arcflex Hose & Bellows Limited, and payables of £200,000 to Hydraflex Management Services Limited and £43,868 to Hydraflex Metal Hose & Bellows Limited.

During the year the company paid dividends to those who are both directors and shareholders of the company totalling £280,219 (2023: £210,000).