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Registered number: 04286939 ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 30 APRIL 2025
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
COMPANY INFORMATION
Directors | M I Suttie (appointed 14 February 2025)
| A N Dare (appointed 18 June 2024)
| S M Brown (appointed 14 February 2025)
Registered number | 04286939
Registered office | First Floor North
| 40 Oxford Road
| High Wycombe
| Buckinghamshire
| HP11 2EE
Independent auditor | AAB Audit & Accountancy Limited
| Kingshill View
| Prime Four Business Park
| Kingswells
| Aberdeen
| AB15 8PU
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
CONTENTS
| Page
Directors' Responsibilities Statement | 1
Balance Sheet | 2
Statement of Changes in Equity | 3
Notes to the Financial Statements | 4 - 8
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT FOR THE PERIOD ENDED 30 APRIL 2025 The directors are responsible for preparing the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Company's financial statements 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 to 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. Page 1
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED REGISTERED NUMBER:04286939
BALANCE SHEET AS AT 30 APRIL 2025
|  | 30 April |  | 31 December
|  | 2025 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 3 |  | 1,799,932 |  | 1,799,932
|  |  | 1,799,932 |  | 1,799,932
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | - |  | 60,196 |
|  | - |  | 60,196 |
Total assets less current liabilities |  |  | 1,799,932 |  | 1,860,128
Net assets |  |  | 1,799,932 |  | 1,860,128
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2,700 |  | 2,700
Share premium account |  |  | 59,496 |  | 59,496
Other reserves |  |  | - |  | 1,797,932
Profit and loss account |  |  | 1,737,736 |  | -
|  |  | 1,799,932 |  | 1,860,128
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M I Suttie
Director
Date: 16 January 2026
The notes on pages 4 to 8 form part of these financial statements. Page 2
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30 APRIL 2025
| Called up share capital | Share premium account | Other reserves | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 May 2023 | 2,700 | 59,496 | 1,797,932 | - | 1,860,128
At 1 January 2024 | 2,700 | 59,496 | 1,797,932 | - | 1,860,128
Loss for the period | - | - | - | (60,196) | (60,196)
Transfer between reserves | - | - | (1,797,932) | 1,797,932 | -
At 30 April 2025 | 2,700 | 59,496 | - | 1,737,736 | 1,799,932
| The notes on pages 4 to 8 form part of these financial statements.
Page 3
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
1. | General information
Andrews Hydrographics (Holding Company) Limited is a company incorporated in England. The registered office is First Floor North, 40 Oxford Road, High Wycombe, Buckinghamshire, United Kingdom, HP11 2EE. The company's principal activity is a holding company. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of First Tech Limited as at 30 April 2025 and these financial statements may be obtained from Companies House.
| 2.3 | Going concern
The directors, having made due and careful enquiry, are of the opinion that the Company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational exisitence for the forseeable future. This assessment is based on the understanding that the Company and the wider group will conitnue to trade at high levels over the coming months. This, alongm with making use of retained reserves will allow the Company to continue to meet it's obligations as they fall due and operate as a going concern. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. Page 4
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.4 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Page 5
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.6 | Financial instruments (continued)
Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 January 2024 | 1,799,932
| At 30 April 2025 | 1,799,932
Page 6
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
4. | Debtors
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
| Amounts owed by group undertakings | - | 60,196
|  | - | 60,196
5. | Share capital
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2,700 (2023 - 2,700) A Ordinary shares of £1.00 each | 2,700 | 2,700
6. | Related party transactions
| Control During the period the Company was controlled by the directors. Transactions The Company has taken advantage of the exemptions within FRS 102 section 1AC.35 (Related Party Disclosures) which allow exemption from the disclosure of related party transactions with other group companies.
7. | Controlling party
The company was acquired by First Marine Solutions Limited on 14 February 2025. Prior to this date, the company was controlled by Amplus Energy (Holdings) Limited, a company registered in Scotland. The ultimate parent company is now First Tech Limited, a company registered in Scotland. The consolidated financial statements of First Tech Limited, within which the results of the company are included, can be obtained from the Companies House website. The ultimate controlling party, Ian Suttie, passed away on 4 October 2025, prior to the approval of these financial statements. Control of the company remains with the directors while ownership has passed to Ian Suttie's estate, which will be transferred to the beneficiaries in due course. Page 7
ANDREWS HYDROGRAPHICS (HOLDING COMPANY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
8. | Auditor's information
The auditor's report on the financial statements for the period ended 30 April 2025 was unqualified. The audit report was signed on 19 January 2026 by James Pirrie (Senior Statutory Auditor) on behalf of AAB Audit & Accountancy Limited.
Page 8