REGISTERED NUMBER: 01268424 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HYPRO DEVELOPMENTS LIMITED

TRADING AS

HYPRO MARINE

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Clarke

M G Clarke

SECRETARY:

M G Clarke

REGISTERED OFFICE:

Hypro Marine

Mount Pleasant Lane

Lymington

Hampshire

SO41 8LS

REGISTERED NUMBER:

01268424 (England and Wales)

ACCOUNTANTS:

Enhance

Chartered Accountants & Business Advisers

38 Middlehill Road

Wimborne

Dorset

BH21 2SE

FIXED ASSETS

Tangible assets

4

101,803

143,673

CURRENT ASSETS

Stocks

731,810

739,620

Debtors

5

951,318

952,606

Cash at bank and in hand

177,582

224,579

1,860,710

1,916,805

CREDITORS

Amounts falling due within one year

6

963,872

1,048,081

NET CURRENT ASSETS

896,838

868,724

TOTAL ASSETS LESS CURRENT LIABILITIES

998,641

1,012,397

CREDITORS

Amounts falling due after more than one year

7

(25,953

)

(32,930

)

PROVISIONS FOR LIABILITIES

(17,940

)

(27,991

)

NET ASSETS

954,748

951,476

CAPITAL AND RESERVES

Called up share capital

314

314

Retained earnings

954,434

951,162

SHAREHOLDERS' FUNDS

954,748

951,476

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

S P Clarke - Director

M G Clarke - Director

1.	STATUTORY INFORMATION

Hypro Developments Limited 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 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, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% 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.

Taxation

Taxation for the year 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 year 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.

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 year was 15 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

33,380

225,956

16,888

143,111

419,335

Disposals

-

-

-

(51,873

)

(51,873

)

At 31 March 2025

33,380

225,956

16,888

91,238

367,462

DEPRECIATION

At 1 April 2024

1,669

187,139

10,564

76,290

275,662

Charge for year

1,669

9,712

1,582

12,978

25,941

Eliminated on disposal

-

-

-

(35,944

)

(35,944

)

At 31 March 2025

3,338

196,851

12,146

53,324

265,659

NET BOOK VALUE

At 31 March 2025

30,042

29,105

4,742

37,914

101,803

At 31 March 2024

31,711

38,817

6,324

66,821

143,673

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

Motor

vehicles

£

COST

At 1 April 2024

80,997

Disposals

(26,248

)

At 31 March 2025

54,749

DEPRECIATION

At 1 April 2024

27,721

Charge for year

10,782

Eliminated on disposal

(15,405

)

At 31 March 2025

23,098

NET BOOK VALUE

At 31 March 2025

31,651

At 31 March 2024

53,276

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

356,067

379,219

Amounts owed by group undertakings

564,341

538,733

Other debtors

30,910

34,654

951,318

952,606

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

6,977

18,221

Trade creditors

281,150

275,247

Amounts owed to group undertakings

440,857

449,598

Taxation and social security

60,446

172,969

Other creditors

174,442

132,046

963,872

1,048,081

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

25,953

32,930

8.	RELATED PARTY DISCLOSURES

The company rents premises from the Hypro Developments Limited Retirement and Death Benefit scheme under a ten year lease from 1 July 2012. The rent paid for the year ended 31 March 2025 was £77,000 (2024: £77,000). The directors believe this to be a normal commercial rate for the premises.

During the year management fees of £300,000 (2024: £230,000) were paid to C-Pro Holdings Limited, the parent company.

The company voted a dividend of £140,000 during the year (2024: £270,000). The balance owed to the parent company, C-Pro Holdings Limited, at 31 March 2025 was £440,857 (2024: £449,598). This loan is unsecured and interest free.

At the year end the company was owed £162,246 (2024: £143,246) by Ribs Marine Ltd, a group company. This loan is unsecured and interest free.

At the year end the company was owed £3,295 (2024: £2,266) by Rossiter Marine Ltd, a related company. This loan is unsecured and interest free.

At the year end the company was owed £88,871 (2024: £88,871) by Avon Marina Holdings Ltd, a related company.This loan is unsecured and interest free.

At the year end the company was owed £309,929 (2024: £304,350) by Avon Marina LLP, a related company. This loan is unsecured and interest free.

9.	ULTIMATE CONTROLLING PARTY

C- Pro Holdings Ltd, the parent company, has ultimate control by virtue of its 100% shareholding.