REGISTERED NUMBER: 08808730 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

FOR

HUDSON BLUE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

L A Jackson

I S Anfield

REGISTERED OFFICE:

1 Mill Lane

Bridlington

East Yorkshire

YO16 7AP

REGISTERED NUMBER:

08808730 (England and Wales)

SENIOR STATUTORY AUDITOR:

Rebecca Sygrove FCCA

AUDITORS:

Lloyd Dowson Audit Limited

Chartered Accountants

& Statutory Auditors

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

The directors present their strategic report for the year ended 5 April 2025.

REVIEW OF BUSINESS

The company provides professional services to the construction sector.

The company's financial performance during the year has seen an increase in turnover of 6.48% to £40,000,883 and reports a profit before taxation of £103,929.

The company considers turnover and net assets to be its key financial performance indicators. The turnover for the year was £40,000,883 (2024 : £37,565,255) and net assets at the end of the year of £475,241 (2024 : £397,294). The company continues to remain as one of the leading companies in its field.

PRINCIPAL RISKS AND UNCERTAINTIES

Due to the nature of the company's trade, it is directly affected by the trends within the construction industry and wider economy. The company must also comply with legislation aimed at employment businesses.

After coming into office in July, the government made good on its promise to announce changes to employment rights under the Employment Rights Bill, some aspects of which may affect Hudson Blue Limited. The government also announced increases to Employers National Insurance contributions and the National Minimum Wage. The result of all these changes will make employment under PAYE contracts more expensive and less flexible.

However, the directors are confident that by promoting supply chain compliance and Hudson Blue Limited still being the best vehicle to de risk hiring younger less skilled operatives, the company can maintain its market share.

COMPANY OPERATIVES

To comply with the onshore employment intermediaries legislation, the company engages operatives under a PAYE hybrid contract rather than CIS because due to their age, skill level and qualifications, they may be subject to supervision, direction or control.

ENVIRONMENTAL AND SOCIAL ISSUES

The company offers professional services to the UK construction industry from offices based in East Yorkshire and Manchester. The services carried out are mainly centred around complex IT software systems all of which the company considers has a minimal impact on the local environment. The operatives are directly responsible for their own environmental and social issues.

FINANCIAL INSTRUMENTS

The company's main financial instruments comprise bank balances. The main function of these instruments is to maintain funds to finance the companies operations and minimise price, liquidity, credit and cash flow risk.

Due to the nature of the financial instruments used by the company, there is no exposure to price or currency risk. The company's approach to managing other risks applicable to the financial instruments is detailed below.

The company does not use bank loans and manages its liquidity risk by monitoring cash flows to ensure it has sufficient funds to meet liabilities as they fall due.

Creditors risk is managed by ensuring sufficient funds are available to meet liabilities as they fall due.

FUTURE DEVELOPMENTS

The company plans to ensure it remains as one of the leading companies in its field by continuing to provide a high level of customer service.

ON BEHALF OF THE BOARD:

L A Jackson - Director

10 December 2025

The directors present their report with the financial statements of the company for the year ended 5 April 2025.

DIVIDENDS

No dividends will be distributed for the year ended 5 April 2025.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 6 April 2024 to the date of this report unless otherwise stated.

Other changes in directors holding office are as follows:

D C Jackson ceased to be a director after 5 April 2025 but prior to the date of this report.

The beneficial interests of the directors holding office at 5 April 2025 in the shares of the company, according to the register of directors' interests, were as follows:

5.4.25

6.4.24

Ordinary A shares of £1 each

D C Jackson

51

51

L A Jackson

-

-

I S Anfield

-

-

Ordinary B shares of £1 each

D C Jackson

-

-

L A Jackson

49

49

I S Anfield

-

-

Ordinary C shares of £1 each

D C Jackson

-

-

L A Jackson

-

-

I S Anfield

1

1

These directors did not hold any non-beneficial interests in any of the shares of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

L A Jackson - Director

10 December 2025

Opinion

We have audited the financial statements of Hudson Blue Limited (the 'company') for the year ended 5 April 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 5 April 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to health and safety, data protection and employment laws. We performed audit procedures to inquire of management whether the company is in compliance with these laws.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

-

obtained an understanding of the nature of the industry and sector, including the legal and regulatory frameworks that the company operates in, including whether the company is complying with those legal and regulatory frameworks;

-

inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

-

discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are tax compliance regulations. We performed audit procedures to detect non-compliance which may have a material impact on the financial statements which included reviewing financial statement disclosures and inspecting correspondence with relevant tax authorities and evaluating advice received from third party advisors.

The audit engagement team identified the risk of management override of controls and the risk of fraud in revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to;

-

testing material journal entries throughout the year and evaluating their business rationale;

-

reviewing key controls and account reconciliations;

-

testing material bank transactions for business rationale;

-

on a sample basis, reviewing authorisation procedures of business expenditure, including review of supporting documentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Rebecca Sygrove FCCA (Senior Statutory Auditor)

for and on behalf of Lloyd Dowson Audit Limited

Chartered Accountants

& Statutory Auditors

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

10 December 2025

TURNOVER

40,000,883

37,565,255

Cost of sales

39,916,364

37,463,741

GROSS PROFIT

84,519

101,514

Administrative expenses

100,267

84,811

OPERATING (LOSS)/PROFIT

4

(15,748

)

16,703

Interest receivable and similar income

119,677

118,325

PROFIT BEFORE TAXATION

103,929

135,028

Tax on profit

5

25,982

34,007

PROFIT FOR THE FINANCIAL YEAR

77,947

101,021

Retained earnings at beginning of year

397,193

296,172

RETAINED EARNINGS AT END OF YEAR

475,140

397,193

CURRENT ASSETS

Debtors

6

1,330

1,687

Cash at bank

2,460,487

2,313,361

2,461,817

2,315,048

CREDITORS

Amounts falling due within one year

7

1,986,576

1,917,754

NET CURRENT ASSETS

475,241

397,294

TOTAL ASSETS LESS CURRENT LIABILITIES

475,241

397,294

CAPITAL AND RESERVES

Called up share capital

8

101

101

Retained earnings

475,140

397,193

SHAREHOLDERS' FUNDS

475,241

397,294

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

L A Jackson - Director

I S Anfield - Director

Cash flows from operating activities

Cash generated from operations

1

61,472

(285,618

)

Tax paid

(34,023

)

(16,608

)

Net cash from operating activities

27,449

(302,226

)

Cash flows from investing activities

Interest received

119,677

116,680

Net cash from investing activities

119,677

116,680

Cash flows from financing activities

Associated company loans

-

(27,000

)

Net cash from financing activities

-

(27,000

)

Increase/(decrease) in cash and cash equivalents

147,126

(212,546

)

Cash and cash equivalents at beginning of year

2

2,313,361

2,525,907

Cash and cash equivalents at end of year

2

2,460,487

2,313,361

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

5.4.25

5.4.24

£

£

Profit before taxation

103,929

135,028

Finance income

(119,677

)

(118,325

)

(15,748

)

16,703

Decrease in trade and other debtors

357

5,332

Increase/(decrease) in trade and other creditors

76,863

(307,653

)

Cash generated from operations

61,472

(285,618

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 5 April 2025

5.4.25

6.4.24

£

£

Cash and cash equivalents

2,460,487

2,313,361

Year ended 5 April 2024

5.4.24

6.4.23

£

£

Cash and cash equivalents

2,313,361

2,525,907

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 6.4.24

Cash flow

At 5.4.25

£

£

£

Net cash

Cash at bank

2,313,361

147,126

2,460,487

2,313,361

147,126

2,460,487

Total

2,313,361

147,126

2,460,487

1.	STATUTORY INFORMATION

Hudson Blue 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on the going concern basis of accounting, which assumes that the company is able to continue operating as a going concern.

Turnover

Turnover represents professional services to the construction sector, net of value added tax. Turnover is recognised on the supply of services.

The company operates as a principal and therefore records its income gross, without the deduction of associated direct labour costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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.

Direct labour

Direct labour costs represent monies paid to self employed operatives.

3.	LABOUR COSTS

5.4.25

5.4.24

£

£

Direct labour

37,500,602

35,210,800

Social security costs

2,415,762

2,252,941

39,916,364

37,463,741

The average number of operatives during the year was as follows:

5.4.25

5.4.24

Directors

3

3

Operatives

1,288

1,291

1,291

1,294

These operatives are not employees in a contractual sense.

5.4.25

5.4.24

£

£

Directors' remuneration

-

-

4.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

5.4.25

5.4.24

£

£

Auditors' remuneration

6,895

8,100

Auditors' remuneration for non audit work

7,898

7,101

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

5.4.25

5.4.24

£

£

Current tax:

UK corporation tax

25,982

34,007

Tax on profit

25,982

34,007

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is the same as the standard rate of corporation tax in the UK.

5.4.25

5.4.24

£

£

Profit before tax

103,929

135,028

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

25,982

33,757

Effects of:

Expenses not deductible for tax purposes

-

250

Total tax charge

25,982

34,007

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.25

5.4.24

£

£

Trade debtors

-

42

Prepayments and accrued income

1,330

1,645

1,330

1,687

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.25

5.4.24

£

£

Corporation tax

26,471

34,512

Social security and other taxes

1,090,734

1,044,104

VAT

833,499

798,193

Other creditors

17,518

26,318

Accrued expenses

18,354

14,627

1,986,576

1,917,754

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

5.4.25

5.4.24

value:

£

£

51

Ordinary A

£1

51

51

49

Ordinary B

£1

49

49

1

Ordinary C

£1

1

1

101

101

9.	RELATED PARTY DISCLOSURES

The company has traded with The Hudson Foundation Limited, a company under the control of D C Jackson, incurring a management charge of £16,226 (2024 : nil), and with Lemonhouse Software Limited, a company under the control of L A Jackson, receiving services of £44,094 (2024 : £29,396).

In the previous year, the company traded with Knot Builders Ltd, a company under the control of D C Jackson, incurring a management charge of £15,000.

All transactions were undertaken in the normal course of trade and on a commercial basis.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is D C Jackson.