REGISTERED NUMBER: 04458552 (England and Wales)

HIGH & DRY MANUFACTURING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2024 TO 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A Boyton-Salts

REGISTERED OFFICE:

Batchmere Workshop

First Avenue

Chichester

West Sussex

PO20 7LQ

REGISTERED NUMBER:

04458552 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

57,375

49,902

57,375

49,902

CURRENT ASSETS

Stocks

39,604

12,075

Debtors

6

104,584

114,697

Cash at bank

10,467

252

154,655

127,024

CREDITORS

Amounts falling due within one year

7

145,385

131,173

NET CURRENT ASSETS/(LIABILITIES)

9,270

(4,149

)

TOTAL ASSETS LESS CURRENT LIABILITIES

66,645

45,753

CREDITORS

Amounts falling due after more than one year

8

(57,314

)

(44,676

)

PROVISIONS FOR LIABILITIES

10

(9,198

)

(12,475

)

NET ASSETS/(LIABILITIES)

133

(11,398

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

33

(11,498

)

SHAREHOLDERS' FUNDS

133

(11,398

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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 20 October 2025 and were signed by:

J A Boyton-Salts - Director

1.	STATUTORY INFORMATION

High & Dry Manufacturing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net sales of goods for the year, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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 at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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.

Deferred tax shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 March 2025

7,500

AMORTISATION

At 1 June 2024

and 31 March 2025

7,500

NET BOOK VALUE

At 31 March 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 June 2024

12,158

2,195

68,990

10,663

94,006

Additions

950

-

51,763

-

52,713

Disposals

(699

)

(1,035

)

(47,997

)

(4,726

)

(54,457

)

At 31 March 2025

12,409

1,160

72,756

5,937

92,262

DEPRECIATION

At 1 June 2024

8,345

461

29,289

6,009

44,104

Charge for period

549

123

13,275

436

14,383

Eliminated on disposal

(334

)

(287

)

(20,291

)

(2,688

)

(23,600

)

At 31 March 2025

8,560

297

22,273

3,757

34,887

NET BOOK VALUE

At 31 March 2025

3,849

863

50,483

2,180

57,375

At 31 May 2024

3,813

1,734

39,701

4,654

49,902

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1 June 2024

35,990

Additions

36,766

At 31 March 2025

72,756

DEPRECIATION

At 1 June 2024

8,998

Charge for period

13,275

At 31 March 2025

22,273

NET BOOK VALUE

At 31 March 2025

50,483

At 31 May 2024

26,992

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

104,584

114,697

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

13,072

5,857

Trade creditors

51,456

32,879

Taxation and social security

21,793

31,057

Other creditors

49,064

51,380

145,385

131,173

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

6,667

15,000

Hire purchase contracts

50,647

29,676

57,314

44,676

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

16,667

25,000

Hire purchase contracts

63,719

35,533

80,386

60,533

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

9,198

12,475

Deferred

tax

£

Balance at 1 June 2024

12,475

Movement in year

(3,277

)

Balance at 31 March 2025

9,198

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2025 and the year ended 31 May 2024:

2025

2024

£

£

J A Boyton-Salts

Balance outstanding at start of period

53,157

34,197

Amounts advanced

61,354

57,910

Amounts repaid

(54,950

)

(38,950

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

59,561

53,157

13.	ULTIMATE CONTROLLING PARTY

The controlling party is J A Boyton-Salts.