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Registered number:
For the Year Ended
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Hyde Aero Products Limited
Company Information
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Hyde Aero Products Limited
Contents
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Hyde Aero Products Limited
Group Strategic Report
For the Year Ended 30 September 2025
The directors present their strategic report for the year ended 30 September 2025.
The directors consider the profit on ordinary activities before taxation for the year of £4,651k (2024: £4,335k) to be satisfactory and in line with the expectations of the business.
Trading activities are generally buoyant, and are in line with expectations. The directors anticipate further growth in the ensuing financial period.
The Group 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 Group to a number of financial risks, which are described in further detail below.
Liquidity risk The Group 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 Group'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. Hedge accounting is not adopted by the group. Interest rate risk The Group 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 Group is exposed to transaction foreign currency risk. In order to mitigate this risk, the Group, 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 Group 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.
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Hyde Aero Products Limited
Group Strategic Report (continued)
For the Year Ended 30 September 2025
In accordance with section 172 of the Companies Act 2006, the directors, collectively and individually, confirm that during the year ended 30 September 2025, they upheld their duty to promote the success of the Group for the benefit of all stakeholders, whilst acting in good faith throughout.
A key element of the historic and ongoing success of the group is the ability to build strong relationships with all stakeholders, including customers and suppliers, and the values that sit strong within the business drive the success of this. We value and respect all of our people and encourage teamwork in all that we do, whether it be between colleagues working together, or our companies and divisions working together to meet the needs of our customer base. The commitment and quality of the people within the business has played a major role in our success. The business continues to adapt to the changing market and our people and their values are instrumental in driving this. Our Group Human Resources department was formally setup in 2019 and continues to go from strength to strength, a particular highlight being the growth of our apprenticeship schemes. We continue to be a business with many long service staff members, which is something we pride ourselves on. The Group's policy with regard to the environment is to ensure that we understand and effectively manage the environmental impact of our activities. We ensure that we comply with all legal requirements relating to the environment in all areas in which we conduct business.
This report was approved by the board and signed on its behalf.
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Hyde Aero Products 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.
The directors who served during the year were:
The profit for the year, after taxation and minority interests, amounted to £3,292,795 (2024: £3,954,001).
The directors have not recommended a dividend (2024: £Nil).
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Hyde Aero Products Limited
Directors' Report (continued)
For the Year Ended 30 September 2025
The Group undertakes research and development projects aimed at the ongoing improvement of its product range.
The Group continues to recognise the benefit of keeping employees informed of the progress of the business. Throughout the Group, consultative arrangements and collective bargaining procedures are well established.
We recognise that bringing on new talent is key to the long term future of the Group and the numbers of apprentices employed within the Group continues to grow. We only work with reputable training providers and ensure all the requirements of the Apprenticeship Levy are met, giving valuable and thorough on the job training to all of our apprentices. Full and fair consideration is given to applications for employment made by disabled persons having regard to their aptitude and abilities.
The Group fosters long term and meaningful relationships with customers and suppliers to bring added value to everything that we do. A key element of historic and ongoing success of the group is the ability to build strong relationships with all stakeholders, including customers and suppliers, and the values that sit strong within the business drive the success of this.
In recent years, a high level of focus and resource has been devoted to business relationships to ensure that the Group successfully continued to trade throughout the Covid-19 pandemic. By consulting closely with all of our stakeholders, we were able to adapt to changing needs and market constraints and ensure no reduction in our standards or reputation. We operate in highly regulated markets and always maintain the required certifications to operate safely and within legislation.
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Hyde Aero Products Limited
Directors' Report (continued)
For the Year Ended 30 September 2025
Greenhouse gas emissions, energy consumption and energy efficiency action
The SECR disclosure covers the Group’s greenhouse gas emission (scope 1 and 2), an appropriate intensity ratio, the total
energy usage of gas, electricity and fuel for transport and production. HM Government Environmental Reporting Guidelines: including streamlined energy and carbon reporting guidance (March 2019) has been used for the collation of data sources and reporting of emissions. UK Government GHG Conversion Factors for Company Reporting has been used for the reporting of emissions, using the 2025 version.
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Hyde Aero Products Limited
Directors' Report (continued)
For the Year Ended 30 September 2025
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.
There have been no significant events affecting the Group since the year end.
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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Hyde Aero Products Limited
Directors' Report (continued)
For the Year Ended 30 September 2025
This report was approved by the board and signed on its behalf.
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Hyde Aero Products Limited
Independent Auditors' Report to the Members of Hyde Aero Products Limited
We have audited the financial statements of Hyde Aero Products Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company 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).
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 Group 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.
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 Group's or the parent 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.
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Hyde Aero Products Limited
Independent Auditors' Report to the Members of Hyde Aero Products Limited (continued)
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group 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 Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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Hyde Aero Products Limited
Independent Auditors' Report to the Members of Hyde Aero Products Limited (continued)
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 Group 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 Antibribery 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.
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Hyde Aero Products Limited
Independent Auditors' Report to the Members of Hyde Aero Products 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.
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.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
SK1 3GG
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Hyde Aero Products Limited
Consolidated Statement of Comprehensive Income
For the Year Ended 30 September 2025
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Hyde Aero Products Limited
Registered number: 02671608
Consolidated Statement of Financial Position
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 19 to 35 form part of these financial statements.
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Hyde Aero Products Limited
Registered number: 02671608
Company Statement of Financial Position
As at
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not
presented its own Statement of Comprehensive Income in these financial statements. The profit for the parent company for the year was £821,631 (2024: £865,724). The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 19 to 35 form part of these financial statements.
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