REGISTERED NUMBER: 03837010 (England and Wales)

Financial Statements for the Period 1 April 2024 to 30 March 2025

for

HCF Catch Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M W Bartlett

N Booth

S Drinkell

R J Fergie

Ms J Fernadez

N A Griffiths

Ms A Handley

D Jaines-White

C R Johnson

G P Jones

R N Pearce

Ms L A Potts

R E Sherwell

D J Talbot

R D Tuplin

S Winfield

Professor K T Dayson

P P Mc Cartan

Professor F Matthews

M Myles

B P Taylor

SECRETARY:

Ms L Pickard

REGISTERED OFFICE:

Catch Redwood Park Estate

Stallingborough

Grimsby

North East Lincs

DN41 8TH

REGISTERED NUMBER:

03837010 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mark Stothard BA (Hons) FCA (Statutory Auditor)

AUDITORS:

Xeinadin Audit Limited

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

FIXED ASSETS

Tangible assets

4

2,385,695

468,159

CURRENT ASSETS

Debtors

5

976,058

685,825

Cash at bank and in hand

1,738,264

366,280

2,714,322

1,052,105

CREDITORS

Amounts falling due within one year

6

4,416,551

1,025,103

NET CURRENT (LIABILITIES)/ASSETS

(1,702,229

)

27,002

TOTAL ASSETS LESS CURRENT LIABILITIES

683,466

495,161

CREDITORS

Amounts falling due after more than one year

7

(20,245

)

(68,598

)

PROVISIONS FOR LIABILITIES

(67,629

)

(1,588

)

NET ASSETS

595,592

424,975

RESERVES

Income and expenditure account

595,592

424,975

595,592

424,975

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 Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

N Booth - Director

1.	STATUTORY INFORMATION

HCF Catch Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Tangible fixed assets

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

Site infrastructure

-

at varying rates on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost

Grants

Grants are recognised in the period in which they relate to. Grants relating to capital expenditure are treated as deferred income on recognition and recognised in the income and expenditure account each year on the same basis as which they are depreciated.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 72 (2024 - 57 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Site

Plant and

and

Computer

infrastructure

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

403,657

283,035

203,027

213,458

1,103,177

Additions

1,883,390

153,214

25,790

106,008

2,168,402

At 30 March 2025

2,287,047

436,249

228,817

319,466

3,271,579

DEPRECIATION

At 1 April 2024

305,191

101,222

76,720

151,885

635,018

Charge for period

144,406

35,524

24,965

45,971

250,866

At 30 March 2025

449,597

136,746

101,685

197,856

885,884

NET BOOK VALUE

At 30 March 2025

1,837,450

299,503

127,132

121,610

2,385,695

At 31 March 2024

98,466

181,813

126,307

61,573

468,159

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.25

31.3.24

£

£

Trade debtors

491,717

357,628

Other debtors

484,341

328,197

976,058

685,825

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.25

31.3.24

£

£

Hire purchase contracts

44,433

40,512

Trade creditors

363,593

447,361

Taxation and social security

93,933

71,701

Other creditors

3,914,592

465,529

4,416,551

1,025,103

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.3.25

31.3.24

£

£

Hire purchase contracts

20,245

68,598

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.3.25

31.3.24

£

£

Hire purchase contracts

64,677

68,598

Hire purchase contracts are secured against the assets to which they relate.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Stothard BA (Hons) FCA (Statutory Auditor) (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

10.	CONTINGENT LIABILITIES

On 18th April 2006 the company entered into a partnership agreement with North East Lincolnshire Council for the operation of a skills development facility. This facility, known as CATCH, was operated in August 2006 and commenced operations in September 2006.

The operation of the facility had been subject to a lease from North East Lincolnshire Council for 20 years under which an annual rent is payable plus a share of the retained profits of the overall operation. The annual rent amount which is subject to periodic review. The last review was completed during 2013 and an annual rent of £75,000 pa commenced 1 April 2014 (previously £50,000 pa).

As part of it's overall strategy in ensuring it's long term viability the company has been in negotiation with North East Lincolnshire Council to secure a new long term lease. These negotiations concluded in July 2023 and the company now has a 35 year lease. effective from 1 April 2021. As part of these negotiations consideration has been given to a commitment made by the company to make a financial contribution to an area of the site known 'CATCH 4'. The new lease acknowledges this commitment and provides for an annual rent of £91,447 pa for the year to 31 March 2022, £111,447 pa for the period to 31 March 2024 and revision pursuant to the lease thereafter.

During 2014 the company was contacted by the local Valuation Agency office to discuss the revaluation of the site for business rates purposes. This is a complicated process due to the various extensions to the site since it was last valued and also the fact that some of the site are sublet under tenacy agreements. The company has been able to come to a satisfactory agreements with both the local authority and its tenants in respect of most matters but there remains some ongoing issues.

11.	RELATED PARTY DISCLOSURES

Directors

The directors, who are representatives of industry, are of the opinion that a detailed disclosure of transactions between related parties in accordance with Financial Reporting Standard 102 would be inappropriate.

Companies with representatives on the board of directors do not receive beneficial terms as the role of the directors is to represent industry as a whole. Services are provided by the company to industry at normal commercial rates

12.	ULTIMATE CONTROLLING PARTY

The company's board of directors control the overall strategy and long term direction of the company. The board consists of people with experience of industry who it is considered can add value to the decision making processes the company undertakes. The daily management of the company is delegated to the CEO who is required to report to the board of directors on regular basis.

13.	LIMITED BY GUARANTEE

The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to a contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

14.	FREEPORT SEED CAPITAL

During the year the company received £2,033,860 grant funding from the Freeport and £1,425,000 match funding from the industry investors totalling £3,458,860 in relation to the funding of the Freeport project. Capital expenditure has been incurred on site infrastructure costs totalling £1,883,390 (see fixed asset additions in note 5). Operating expenditure costs have also been incurred in respect of staff costs, recruitment and other professional fees in the period which have been included in the Income Statement totalling £282,956. A balance of project funds of £1,292,514 was carried forward at the year end within the cash at bank figure on the balance sheet.