ACCOUNTS - Final Accounts preparation

CASH AND CASH EQUIVALENTS

Unaudited 30 June

Registered number: 09848539

NATIONAL HYGIENE SERVICES LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

NATIONAL HYGIENE SERVICES LIMITED

REGISTERED NUMBER:09848539

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

	31 December	Unaudited 30 June
	2024	2023
Note	£	£

FIXED ASSETS
Tangible assets	4		56,904		80,883
			56,904		80,883
CURRENT ASSETS
Debtors: amounts falling due within one year	5	322,199		370,678
Cash at bank and in hand	6	161,451		21,774
		483,650		392,452
Creditors: amounts falling due within one year	7	(604,605)		(321,969)
NET CURRENT (LIABILITIES)/ASSETS			(120,955)		70,483
TOTAL ASSETS LESS CURRENT LIABILITIES			(64,051)		151,366
Creditors: amounts falling due after more than one year	8		-		(58,505)

NET (LIABILITIES)/ASSETS			(64,051)		92,861

CAPITAL AND RESERVES
Called up share capital	11	100	100
Profit and loss account		(64,151)	92,761
		(64,051)	92,861

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Benjamin Paul Hartley

Director

Date: 29 September 2025

The notes on pages 3 to 11 form part of these financial statements.

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NATIONAL HYGIENE SERVICES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 July 2023 (unaudited)	100	92,761	92,861
COMPREHENSIVE INCOME FOR THE PERIOD
Loss for the period	-	(156,912)	(156,912)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	-	(156,912)	(156,912)
TOTAL TRANSACTIONS WITH OWNERS	-	-	-
AT 31 DECEMBER 2024	100	(64,151)	(64,051)

The notes on pages 3 to 11 form part of these financial statements.

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 JUNE 2023

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023 (unaudited)	100	128,898	128,998
COMPREHENSIVE INCOME FOR THE PERIOD
Loss for the period	-	(36,137)	(36,137)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	-	(36,137)	(36,137)
TOTAL TRANSACTIONS WITH OWNERS	-	-	-
AT 30 JUNE 2023 (unaudited)	100	92,761	92,861

The notes on pages 3 to 11 form part of these financial statements.

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

National Hygiene Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Alton House, Alton Road, Ross-on-Wye, Herefordshire, HR9 5BP.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A - Small Entities of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The functional and presentation currency for the Company during the year was GBP and the accounts are rounded to the nearest GBP.

The following principal accounting policies have been applied:

2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of HSL Compliance Group Limited as at 31st December 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.3

GOING CONCERN

The company has net current liabilities of £121k, net liabilities of £64k and a loss of £157k for the 18 months ended 31 December 2024. Following acquisition of the company by HSL Compliance on 5 June 2024, the company has access to financial support from the group. Therefore, the review of going concern is conducted with consideration to the level of group financial support which may be realistically made available to the company.
The directors have prepared cash flow forecasts for a period to 30 September 2026 covering a period of at least 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the group and company have sufficient funds to meet its liabilities as they fall due for that period.
Following a change in ownership after the balance sheet date, as disclosed in note 15, the group was able to access further finance facilities including a £58m term loan, £50m acquisition facility and £10m revolving credit facility which remains undrawn at the date of signing these financial statements.
Consequently, the directors are confident that the group and company will have sufficient funds to continue to meet their liabilities as they fall due for at least 12 months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis.

2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.6

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.7

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

2.8

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.9

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.10

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.10

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and reducing balance method:.

Depreciation is provided on the following basis:

Plant and machinery	-	15%	reducing balance
Motor vehicles	-	25%	reducing balance
Computer equipment	-	33%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

EMPLOYEES

The average monthly number of employees, not including the directors, during the period was as follows:

	2024	Unaudited 2023
	No.	No.

Employees	5	8

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

4.	TANGIBLE FIXED ASSETS

	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£
COST OR VALUATION
At 1 July 2023 (unaudited)	20,639	95,721	2,088	118,448
Additions	6,298	-	-	6,298
Disposals	-	(10,932)	-	(10,932)
At 31 December 2024	26,937	84,789	2,088	113,814
DEPRECIATION
At 1 July 2023 (unaudited)	8,002	27,560	2,003	37,565
Charge for the period on owned assets	3,233	-	19	3,252
Charge for the period on financed assets	-	23,219	-	23,219
Disposals	-	(7,126)	-	(7,126)
At 31 December 2024	11,235	43,653	2,022	56,910
NET BOOK VALUE
At 31 December 2024	15,702	41,136	66	56,904
At 30 June 2023 (unaudited)	12,637	68,161	85	80,883

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

DEBTORS

					31 December	Unaudited 30 June
					2024	2023
					£	£


Trade debtors	197,016	261,436
Amounts owed by group undertakings	8,454	-
Other debtors	31,612	13,629
Prepayments and accrued income	25,532	10,310
Tax recoverable	59,585	85,303
	322,199	370,678

Amounts owed by group undertakings are payable on demand and are interest free.

	Cash at bank and in hand	161,451	21,774

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Bank loans	-	13,091
Trade creditors	9,277	6,624
Amounts owed to group undertakings	505,619	153,348
Other taxation and social security	32,939	52,798
Obligations under finance lease and hire purchase contracts	19,099	28,631
Accruals and deferred income	37,671	67,477
	604,605	321,969

Amounts owed to group undertakings are payable on demand and are interest free.


	Obligations under finance lease and hire purchase contracts	12,650	-

Details of security provided:

Obligations under finance leases are secured by fixed charges over the assets which they relate to.

Bank loans	-	25,091
Net obligations under finance leases and hire purchase contracts	-	33,414
	-	58,505

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans	-	13,091
AMOUNTS FALLING DUE 1-2 YEARS
Bank loans	-	25,091


	-	38,182

The bank loan was secured by a fixed and floating charge over the Company's assets. This Bank loan was repaid early as part of the HSL takeover.

Within one year	19,099	28,631
Between 1-5 years	-	33,414
	19,099	62,045

Obligations under finance leases are secured by fixed charges over the assets which they relate to.

AUTHORISED, ALLOTTED, CALLED UP AND FULLY PAID

100 (2023:100) Ordinary shares of £1.00 each	100	100

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NATIONAL HYGIENE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

12.	PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,407 (2023: £3,780). Contributions totalling £763 (2023: £641) were payable to the fund at the balance sheet date and were included in creditors.

13.	RELATED PARTY TRANSACTIONS
	The Company has taken advantage of the exemption under FRS 102 from disclosing transactions with other wholly owned group companies.

14.	POST BALANCE SHEET EVENTS

HSL Compliance Group Limited prepares financial statements into which the results of the Company are consolidated. On 28 March 2025, 100% of the ordinary share capital of HSL Compliance Group Limited was purchased by Mariner Bidco Limited, an investment holding company ultimately controlled by IK Investment Partners AIFM, a private limited liability company incorporated in Luxembourg which acts as manager of the IK Small Cap III Fund No.1 SCSp and IK Small Cap III Fund No.2 SCSp.
The controlling party note reflects the above change in ultimate controlling party

15.	CONTROLLING PARTY

The Company's immediate parent is RJ Urmson Group Limited, a company incorporated in England and Wales and domiciled in England.

The group to consolidate these financial statements is HSL Compliance Group Limited, a company registered in England and Wales at Alton House Alton Business Park, Alton Road, Ross-On-Wye, Herefordshire, United Kingdom, HR9 5BP.
Copies of the consolidated financial statements prepared by HSL Compliance Group Limited can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
The ultimate controlling party is IK Investment Partners AIFM, a private limited liability company incorporated in Luxembourg which acts as manager of the IK Small Cap III Fund No.1 SCSp and IK Small Cap III Fund No.2 SCSp.

16.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the Period ended 31 December 2024 was unqualified.

The audit report was signed on 30 September 2025 by David Butler FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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