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Registered number: 01592661 Hyde Group Limited Annual Report and Financial Statements For the year ended 30 September 2025
Hyde Group Limited Company Information
Directors | M V Haslam
| P Cox
| M Ford
| M O'Connor
| M Lynch
| S Hanmer (appointed 7 April 2025)
| S Williams (appointed 30 March 2026)
Company secretary | M V Haslam
Registered number | 01592661
Registered office | 185 Stamford House
| Stamford Street
| Stalybridge
| Cheshire
| SK15 1QZ
Independent auditors | Hurst Accountants Limited
| Chartered Accountants & Statutory Auditors
| 3 Stockport Exchange
| Stockport
| SK1 3GG
Hyde Group Limited Contents
| Page
Strategic Report | 1
Directors' Report | 2 - 3
Independent Auditors' Report | 4 - 7
Statement of Comprehensive Income | 8
Statement of Financial Position | 9
Statement of Changes in Equity | 10
Notes to the Financial Statements | 11 - 23
Hyde Group Limited Strategic Report For the year ended 30 September 2025
Introduction
The directors present their strategic report for the year ended 30 September 2025.
Business review
Trading activities are generally buoyant, and are in line with expectations. The directors anticipate further growth in the ensuing financial period.
Principal risks and uncertainties
The Company uses financial instruments including cash, a bank overdraft and other items including trade debtors and trade creditors that arise directly from its operations. The existence of these financial instruments exposes the Company to a number of financial risks, which are described in further detail below. Liquidity risk The Company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash safely and profitably. Credit risk The Company's principal financial assets are cash deposits, cash, trade debtors and intercompany debtors. The credit risk associated with cash and intercompany debtors is limited. The principal credit risk arises, therefore, from its trade debtors. In order to manage credit risk, the directors set limits for customers based on a combination of payment history and third party references. Credit limits are reviewed by the credit controller on a regular basis in conjunction with debt ageing and credit history. I terest rate risk The Company does not have any third party borrowings other than the bank overdraft; therefore, it is not exposed to any material interest rate risk. Currency risk The Company is exposed to transaction foreign currency risk. In order to mitigate this risk, the Company, through the ultimate parent company, has entered into a number of foreign currency forward contracts to manage the foreign exchange exposure of contracted future foreign currency sales, receipts. In entering into these forward currency contracts, the Company is simply fixing its income from future sales. Hedge accounting is not adopted by the group. Non financial risk The group’s involvement with the ‘Nuclear’ sector continues to evolve and management is optimistic that further growth can be achieved. This report was approved by the board and signed on its behalf.
M V Haslam Director
Date: 10 June 2026
Page 1
Hyde Group Limited Directors' Report For the year ended 30 September 2025 The directors present their report and the financial statements for the year ended 30 September 2025.
Principal activity
The principal activity of the Company is that of other engineering activities.
Directors
The directors who served during the year were:
M V Haslam
P Cox
M Ford
M O'Connor
D V Cooper (resigned 7 April 2025)
M Lynch
G Atkinson (resigned 27 March 2026)
S Hanmer (appointed 7 April 2025)
Results and dividends
The profit for the year, after taxation, amounted to £118,877 (2024: £448,708). The directors do not propose the payment of a dividend (2024: £Nil).
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, 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 2
Hyde Group Limited Directors' Report (continued) For the year ended 30 September 2025
Group Modern Slavery Act Transparency Statement
To view our Modern Slavery Act Transparency Statement, please refer to our group website at: https://www.hydegroup .com/modern-slavery -act-transparency-statement This policy covers all group entities, and is regularly updated to remain in compliance with legislation.
Disclosure of information to auditors
Each of the persons who are directors at the time when this directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Company since the year end.
Auditors
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.
M V Haslam Director
Date: 10 June 2026
Page 3
Hyde Group Limited Independent Auditors' Report to the Members of Hyde Group Limited
Opinion
We have audited the financial statements of Hyde Group Limited (the 'Company') for the year ended 30 September 2025, which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and the related notes, 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 30 September 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 United Kingdom, including the Financial Reporting Council'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 other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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. Page 4
Hyde Group Limited Independent Auditors' Report to the Members of Hyde Group Limited (continued)
Opinion 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the strategic report and the directors' report 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 directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' responsibilities statement set out on page 2, 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 is 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. Page 5
Hyde Group Limited Independent Auditors' Report to the Members of Hyde Group Limited (continued)
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 an auditors' report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Identifying and assessing potential risks related to irregularities In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: ∙The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets. ∙The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud. ∙Supporting documentation relating to the Company's policies and procedures for: °Identifying, evaluating, and complying with laws and regulations °Detecting and responding to the risks of fraud ∙The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. ∙The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. ∙The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, and Anti-bribery and Corruption. Audit response to risks identified Our procedures to respond to the risks identified included the following: ∙Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements. ∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud. ∙Evaluation of management’s controls designed to prevent and detect irregularities. ∙Enquiring of management about any actual and potential litigation and claims. ∙Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud. Page 6
Hyde Group Limited Independent Auditors' Report to the Members of Hyde Group Limited (continued) We have also considered the risk of fraud through management override of controls by: ∙Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error. ∙Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and ∙Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 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 auditors' report.
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 an auditors' report 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. John Glover (Senior Statutory Auditor) for and on behalf of Hurst Accountants Limited Chartered Accountants & Statutory Auditors 3 Stockport Exchange Stockport SK1 3GG 10 June 2026 Page 7
Hyde Group Limited Statement of Comprehensive Income For the year ended 30 September 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 12,289,762 | 10,266,096
Cost of sales |  | (11,614,955) | (9,628,711)
Gross profit |  | 674,807 | 637,385
Administrative expenses |  | (127,074) | (106,024)
Operating profit | 5 | 547,733 | 531,361
Tax on profit | 8 | (428,856) | (82,653)
Profit for the financial year |  | 118,877 | 448,708
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 11 to 23 form part of these financial statements.
Page 8
Hyde Group Limited Registered number: 01592661 Statement of Financial Position As at 30 September 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 9 |  | 210,002 |  | 248,945
Investments | 10 |  | 1,176,532 |  | 1,176,532
|  |  | 1,386,534 |  | 1,425,477
Current assets |  |  |  |  |
Stocks | 11 | 43,419 |  | 708,204 |
Debtors: amounts falling due within one year | 12 | 20,742,249 |  | 20,006,772 |
Cash at bank and in hand | 13 | 27,726 |  | 742,492 |
|  | 20,813,394 |  | 21,457,468 |
Creditors: amounts falling due within one year | 14 | (6,292,139) |  | (7,092,572) |
Net current assets |  |  | 14,521,255 |  | 14,364,896
Total assets less current liabilities |  |  | 15,907,789 |  | 15,790,373
Deferred taxation | 15 | - |  | (1,461) |
|  |  | - |  | (1,461)
Net assets |  |  | 15,907,789 |  | 15,788,912
Capital and reserves |  |  |  |  |
Called up share capital | 16 |  | 100 |  | 100
Profit and loss account | 17 |  | 15,907,689 |  | 15,788,812
Equity attributable to owners of the parent Company |  |  | 15,907,789 |  | 15,788,912
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M Ford
Director
Date: 10 June 2026
The notes on pages 11 to 23 form part of these financial statements. Page 9
Hyde Group Limited Statement of Changes in Equity For the year ended 30 September 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 October 2023 | 100 | 15,340,104 | 15,340,204
Comprehensive income for the year |  |  |
Profit for the year | - | 448,708 | 448,708
Total comprehensive income for the year | - | 448,708 | 448,708
At 1 October 2024 | 100 | 15,788,812 | 15,788,912
Comprehensive income for the year |  |  |
Profit for the year | - | 118,877 | 118,877
Total comprehensive income for the year | - | 118,877 | 118,877
At 30 September 2025 | 100 | 15,907,689 | 15,907,789
| The notes on pages 11 to 23 form part of these financial statements.
Page 10
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025
1. | General information
Hyde Group is a private limited Company limited by shares and incorporated in England and Wales. Registered Number 01592661. Its registered head office is located at Stamford House, 185 Stamford Street, Stalybridge, Cheshire, SK15 1QZ. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements are presented in Sterling (£), the Company’s functional currency. The accounting reference date is 30th September 2025 however the accounts are drawn up for the 52 weeks to 28th September 2025 (2024: 52 weeks to 29th September 2024). The following principal accounting policies have been applied:
| 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 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Hyde Industrial Holdings Limited as at 30 September 2025 and these financial statements may be obtained from Stamford House, 185 Stamford Street, Stalybridge, Cheshire, SK15 1QZ.
| 2.3 | Exemption from preparing consolidated financial statements
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006. Page 11
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.4 | Going concern
As detailed in the financial statements of the ultimate holding company Hyde Industrial Holdings Limited, the group meets its day to day working capital requirements through significant available cash balances. The directors of Hyde Industrial Holdings Limited (the ultimate parent company) have prepared consolidated forecasts for the period to 30 June 2027 which include forecast results for this company. After review of the forecasts, significant available group cash resources and consideration of the parental support from the ultimate parent company, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future being a period of at least 12 months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in the preparation of these financial statements.
| 2.5 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
| 2.6 | Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery to the customer), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the cost incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. Page 12
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Page 13
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 4 years straight line
|  |  |  | Fixtures and fittings | - | 2-5 years straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.11 | Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
| 2.12 | 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.
| 2.13 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.14 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 14
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.15 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.16 | Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make significant judgements and estimates that affect amounts recognised for assets and liabilities at the reporting date and the amounts of revenue and expenses incurred during the period. Actual outcomes may differ from these judgements, estimates and assumptions. The directors believe that judgements, estimates and assumptions do not have a significant risk of causing a material difference to the carrying amounts of the assets and liabilities within the next financial year. Page 15
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025
4. | Turnover
The whole of the turnover is attributable to the sale of goods. Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 11,971,782 | 10,178,779
| Rest of Europe | 17,322 | -
| Rest of the world | 300,658 | 87,317
|  | 12,289,762 | 10,266,096
5. | Operating profit
| The operating profit is stated after charging / (crediting):
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation | 86,970 | 74,970
| Profit on disposal of fixed assets | 153 | (18,383)
6. | Auditors' remuneration
| During the year, the Company obtained the following services from the Company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 7,700 | 7,000
| The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.
Page 16
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 423,239 | 424,277
| Social security costs | 87,949 | 82,687
| Cost of defined contribution scheme | 21,360 | 23,321
|  | 532,548 | 530,285
| Within the current and prior year the directors of the Company have been remunerated through other companies within the group headed up by its ultimate parent company.
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Management | 1 | 1
|  | Production and distribution | 10 | 12
|  |  | 11 | 13
8. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 47,809 | 110,530
| Adjustments in respect of previous periods | 133,422 | (63,289)
| Group taxation relief | 251,714 | -
| Total current tax | 432,945 | 47,241
| Deferred tax |  |
| Origination and reversal of timing differences | (4,049) | 35,412
| Adjustments in the respect of prior periods | (40) | -
| Total deferred tax | (4,089) | 35,412
| Taxation on profit on ordinary activites | 428,856 | 82,653
Page 17
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025 8.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 -lower than) the standard rate of corporation tax in the UK of 25% (2024 -25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 547,733 | 531,361
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 -25%) | 136,933 | 132,840
| Effects of: |  |
| Expenses not deductible for tax purposes | 5,385 | 4,080
| R&D expenditure credits | 9,733 | 8,878
| Other tax adjustments, reliefs and transfers | (3,227) | -
| Transfer pricing adjustments | 146,650 | -
| Adjustment in research and development tax credit | 256,249 | 7,095
| Adjustments in respect of prior periods (deferred tax) | (40) | 144
| RDEC | (122,827) | (70,384)
| Total tax charge for the year | 428,856 | 82,653
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 18
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025
9. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 October 2024 | 425,320 | 9,850 | 435,170
| Additions | 94,208 | - | 94,208
| Transfers intra group | 26,099 | - | 26,099
| Disposals | (79,260) | - | (79,260)
| At 30 September 2025 | 466,367 | 9,850 | 476,217
| Depreciation |  |  |
| At 1 October 2024 | 176,375 | 9,850 | 186,225
| Charge for the year | 86,970 | - | 86,970
| Transfers intra group | 26,099 | - | 26,099
| Disposals | (33,079) | - | (33,079)
| At 30 September 2025 | 256,365 | 9,850 | 266,215
| Net book value |  |  |
| At 30 September 2025 | 210,002 | - | 210,002
| At 30 September 2024 | 248,945 | - | 248,945
10. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost |
| At 1 October 2024 | 1,176,532
| At 30 September 2025 | 1,176,532
Page 19
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Class of shares | Holding
| Brinksway Tool Limited | Ordinary | 98%
| Britannia Dynamics Limited | Ordinary | 100%
| Crest Engineering Company Limited | Ordinary | 100%
| Hollygate Fabrications Limited | Ordinary | 100%
| Hyde Group Nuclear Limited | Ordinary | 100%
| Manchester Precision Engineering Limited | Ordinary | 100%
| North West (Aerotooling) Limited | Ordinary | 100%
| Park Engineering Limited | Ordinary | 100%
| S G Equipment Limited | Ordinary | 100%
| Hyde Fabrications Limited | Ordinary | 100%
| The registered office of all the above undertakings is 185 Stamford House, Stamford Street, Stalybridge, Cheshire, SK15 1QZ.
11. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Work in progress | 43,419 | 708,204
Page 20
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025
12. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 8,559,670 | 6,381,674
| Amounts owed by group undertakings | 11,968,069 | 13,479,169
| Prepayments and accrued income | 211,882 | 145,929
| Deferred taxation | 2,628 | -
|  | 20,742,249 | 20,006,772
| Amounts due from group undertakings are repayable on demand, unsecured and bear no interest.
13. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 27,726 | 742,492
|  | 27,726 | 742,492
14. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 24,938 | 353,269
| Amounts owed to group undertakings | 3,588,902 | 5,339,498
| Other taxation and social security | 1,483,897 | 1,238,579
| Other creditors | 911,979 | 31,699
| Accruals and deferred income | 282,423 | 129,527
|  | 6,292,139 | 7,092,572
| Amounts due to group undertakings are repayable on demand, unsecured and bear no interest.
Page 21
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025
15. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (1,461)
| Charged to profit or loss | 4,089
| At end of year | 2,628
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (305) | (4,380)
| Short term timing differences | 2,933 | 2,919
|  | 2,628 | (1,461)
16. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024: 100) Ordinary shares of £1 each | 100 | 100
| There is a single class of ordinary shares. There are no restrictions on dividends and the repayment of capital.
17. | Reserves
Other reserves Includes all capital contributions from parent companies. Profit and loss account Includes all current and prior period retained profits.
18. | Contingent liabilities
The Company is party to an inter-company cross guarantee in favour of its bankers. The cross guarantee is for all amounts due to the bank by all of the group companies headed by Hyde Industrial Holdings Limited. The maximum liability of this cross guarantee at 30 September 2025 was £Nil (2024: £Nil). Page 22
Hyde Group Limited Notes to the Financial Statements For the year ended 30 September 2025
19. | Capital commitments
The Company had capital commitments of £Nil as at 30 September 2025 (2024: £Nil).
20. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £21,360 (2024: £23,321). Contributions totalling £3,215 (2024: £2,478) were payable to the fund at the reporting date and are included in creditors.
21. | Related party transactions
| In accordance with FRS102, para 33.1A, the Company is exempt from disclosing transactions with companies that are 100% owned within the Hyde Industrial Holdings Limited. As the Company traded with companies within the Hyde Industrial Holdings Limited group which are less than 100% owned, transactions and balances with such subsidiaries require disclosure and are shown below:
|  | 2025 | 2024
|  | £ | £
| Sales to group companies | 19,536 | 16,350
| Purchases from group companies | 887,386 | 1,093,036
| Amounts owed to group undertakings | 40,835 | 815,863
22. | Ultimate parent undertaking and controlling party
The immediate parent undertaking is Hyde Group Holdings Limited. The ultimate parent undertaking is Hyde Industrial Holdings Limited. The largest group of undertakings for which group accounts have been drawn up is that headed by Hyde Industrial Holdings Limited and the smallest group of such undertakings, including the Company is that headed by Hyde Group Holdings Limited. Copies of the group financial statements can be obtained from that company's registered office.
Page 23