Company registration number 02176508 (England and Wales)
HYBRID LASER TECH LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
HYBRID LASER TECH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
HYBRID LASER TECH LIMITED
BALANCE SHEET
AS AT 30 APRIL 2025
30 April 2025
- 1 -
30 April 2025
31 December 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
147,844
149,106
Current assets
Stocks
4
109,798
102,323
Debtors
5
174,761
710,991
Cash at bank and in hand
43,236
41,844
327,795
855,158
Creditors: amounts falling due within one year
6
(60,549)
(70,726)
Net current assets
267,246
784,432
Total assets less current liabilities
415,090
933,538
Provisions for liabilities
(36,962)
(24,421)
Net assets
378,128
909,117
Capital and reserves
Called up share capital
8
120
120
Share premium account
105,492
105,492
Capital redemption reserve
50,022
50,022
Profit and loss reserves
222,494
753,483
Total equity
378,128
909,117

The notes on pages 2 to 9 form part of these financial statements.

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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 July 2026 and are signed on its behalf by:
D H Littlechild
Director
Company registration number 02176508 (England and Wales)
HYBRID LASER TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
Company information

Hybrid Laser Tech Limited is a private company limited by shares incorporated in England and Wales. The registered office is Precision House, St. Thomas Place, Ely, Cambridgeshire, CB7 4EX. The principal activity of the Company is manufacturing and supplying precision laser cut materials across various industries.

1.1
Reporting period

During the period, the reporting end date was changed from 31 December 2024 to 30 April 2025. Due to this, the financial statements to 30 April 2025 are for a period of 16 months, and accordingly, the comparatives are not entirely comparable.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The company’s ultimate parent has a bank loan due for repayment within 12 months of the approval of these financial statements, further details of which can be found in the consolidated group accounts of Shearline Holdings Limited filed at Companies House. The company is also subject to a separate cross guarantee over all bank debt with a group company. At the balance sheet date this resulted in a contingent liability of £1,086,567 (2023 - £789,027). The company does not have the ability to settle these debts should they fall due and the cross guarantee be enforced. This, along with the company’s interdependence with other group companies, has created uncertainty about the company’s ability to continue to meet its debts as they fall due.

The directors have prepared cash flow forecasts of the company which provided the directors with sufficient comfort that the financial statements should be prepared on the going concern basis. These forecasts are highly sensitive to the level of sales forecast, and are reliant on the continued support of the company's banker, significant financial support of a director, and an extension of the bank loan within the ultimate parent company. A director has provided a letter of support to indicate his intention to support the company if required. The directors recognise that due to the above circumstances, the existence of a material uncertainty which may cast significant doubt over the company's ability to continue as a going concern exists.

1.4
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

HYBRID LASER TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -
Sale of goods

Revenue 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 dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
- 13.5% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

HYBRID LASER TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

HYBRID LASER TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

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

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Provisions

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.

When payments are eventually made, they are charged to the provision carried in the Statement of financial position

1.11
Retirement benefits

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.

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

HYBRID LASER TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.14

Research and development

Expenditure on research and development is written off against profit in the year in which it is incurred.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

30 April
31 December
2025
2023
Number
Number
Total
10
10
HYBRID LASER TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 7 -
3
Tangible fixed assets
Plant and machinery
£
Cost
At 1 January 2024
880,878
Additions
30,737
At 30 April 2025
911,615
Depreciation and impairment
At 1 January 2024
731,772
Depreciation charged in the period
31,999
At 30 April 2025
763,771
Carrying amount
At 30 April 2025
147,844
At 31 December 2023
149,106
4
Stocks
30 April
31 December
2025
2023
£
£
Raw materials and consumables
98,322
75,585
Work in progress
6,755
2,257
Finished goods and goods for resale
4,721
24,481
109,798
102,323
5
Debtors
30 April
31 December
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
128,350
71,820
Amounts owed by group undertakings
36,275
632,835
Other debtors
7,104
3,332
Prepayments and accrued income
3,032
3,004
174,761
710,991
HYBRID LASER TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 8 -
6
Creditors: amounts falling due within one year
30 April
31 December
2025
2023
£
£
Obligations under finance leases
7
-
0
21,450
Trade creditors
30,638
22,520
Taxation and social security
17,629
18,113
Other creditors
-
0
1,551
Accruals and deferred income
12,282
7,092
60,549
70,726

Obligations under hire purchase and finance leases are secured on the assets concerned.

7
Finance lease obligations
30 April
31 December
2025
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
-
0
22,939
Less: future finance charges
-
0
(1,489)
-
0
21,450
8
Called up share capital
30 April
31 December
30 April
31 December
2025
2023
2025
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
120
120
120
120
9
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 £13,267 (202 3 - £7,6 36). Contributions totaling £Nil (202 3 - £1,551) were payable to the fund at the reporting date and are included in creditors.

HYBRID LASER TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 9 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit for the period 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.

The following matter was emphasised without qualifying the report:
We draw attention to note 1.3 in the financial statements, which explains that the company is subject to a cross guarantee in respect of the indebtedness of other group companies. In the event that amounts fall due and the cross guarantee is enforced, the company would not have sufficient resources to meet those obligations. As stated in note 1.3, these events or conditions, along with the other matters as set out in note 1.3, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Senior Statutory Auditor:
Jaimie King ACA
Statutory Auditor:
Whitings LLP
Date of audit report:
13 July 2026
11
Financial commitments, guarantees and contingent liabilities

There is a cross guarantee and debenture given by Hybrid Laser Tech Limited and Shearline Precision Engineering Limited in respect of bank borrowings. The balance at the period end is £1,086,567 (2023 - £789,027). The debt is secured by a debenture over all assets of the company.

12
Related party transactions
Transactions with related parties

The company has taken advantage of exemptions from the disclosure of transactions with other group companies.

13
Parent company

The ultimate parent company and controlling party is Shearline Holdings Limited.

The ultimate controlling party is D H Littlechild.

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