Registration number: 12387910

Hydes Pipes Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Hydes Pipes Ltd

Company Information

Directors

R S Hyde Ewkin Investments Limited

Company secretary

R S Hyde

Registered office

Unit 7 Stanley Court Richard Jones Road Witney Oxfordshire OX29 0TB

Accountants

CBSL Accountants Limited Chartered Accountants Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Hydes Pipes Ltd

(Registration number: 12387910)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	368,280	379,230
Current assets
Stocks	5	216,872	254,686
Debtors	6	312,708	183,841
Cash at bank and in hand		152,677	8,496
		682,257	447,023
Creditors: Amounts falling due within one year	7	(515,948)	(342,047)
Net current assets		166,309	104,976
Total assets less current liabilities		534,589	484,206
Creditors: Amounts falling due after more than one year	7	(195,883)	(221,433)
Provisions for liabilities		(2,452)	(1,063)
Net assets		336,254	261,710
Capital and reserves
Called up share capital	8	1	1
Retained earnings		336,253	261,709
Shareholders' funds		336,254	261,710

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Hydes Pipes Ltd

(Registration number: 12387910)
Balance Sheet as at 31 March 2025

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

R S Hyde Company secretary and director

Hydes Pipes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 7 Stanley Court
Richard Jones Road
Witney
Oxfordshire
OX29 0TB

The principal place of business is:
Woofferton Grange Farm
Brimfield
Ludlow
Shropshire
SY8 4NP

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Hydes Pipes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	Over 25 years straight line
Plant and machinery	Over 3 years straight line
Office equipment	Over 3 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Hydes Pipes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 6).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	379,591	6,570	14,076	400,237
Additions	-	1,922	5,616	7,538
At 31 March 2025	379,591	8,492	19,692	407,775
Depreciation
At 1 April 2024	6,327	5,847	8,833	21,007
Charge for the year	15,184	876	2,428	18,488
At 31 March 2025	21,511	6,723	11,261	39,495
Carrying amount
At 31 March 2025	358,080	1,769	8,431	368,280
At 31 March 2024	373,264	723	5,243	379,230

Included within the net book value of land and buildings above is £358,080 (2024 - £373,264) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	216,872	254,686

Hydes Pipes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

	2025 £	2024 £
Trade debtors	309,403	181,033
Prepayments	3,018	1,692
Other debtors	287	1,116
	312,708	183,841

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	25,550	50,800
Trade creditors		300,957	206,886
Taxation and social security		66,088	15,281
Accruals and deferred income		122,960	68,709
Other creditors		393	371
		515,948	342,047

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	195,883	221,433

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.01 each	100	1	100	1

Hydes Pipes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	195,883	221,433

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	25,550	25,550
Other borrowings	-	25,250
	25,550	50,800

The bank borrowings are secured.