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Company Registration Number 05587044























HIDEF AERIAL SURVEYING LIMITED





FINANCIAL STATEMENTS





 31 OCTOBER 2025


























img4a95.png

 
HIDEF AERIAL SURVEYING LIMITED
 

COMPANY INFORMATION


Directors
Dr G Nehls 
Mr F Lecorps 
Mr N Tompkins 




Registered number
05587044



Registered office
Unit 2 Dobies Business Park
Lillyhall

Workington

Cumbria

CA14 4HX




Independent auditors
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors

Montgomery Way

Rosehill

Carlisle

CA1 2UU





 
HIDEF AERIAL SURVEYING LIMITED
 

CONTENTS



Page
Group Strategic Report
 
1
Directors' Report
 
2 - 3
Directors' Responsibilities Statement
 
4
Independent Auditors' Report
 
5 - 8
Consolidated Profit and Loss Account
 
9
Consolidated Statement of Comprehensive Income
 
10
Consolidated Balance Sheet
 
11
Company Balance Sheet
 
12
Consolidated Statement of Changes in Equity
 
13
Company Statement of Changes in Equity
 
14
Consolidated Statement of Cash Flows
 
15
Notes to the Financial Statements
 
16 - 34


 
HIDEF AERIAL SURVEYING LIMITED
 

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025

Introduction
 
The directors present the strategic report for the year ended 31 October 2025.

Business review
 
The directors are satisfied with the performance of the businesses over the period. Global factors such as high inflation and economic uncertainty have made for a difficult trading environment but the offshore wind market has continued to expand. There has been caution from some customers embarking on major capital projects requiring our services both in the UK and internationally.

Turnover for the year has decreased compared to the prior period. The company is in a sound financial position with net assets of £2.9m which is a decrease of 11.7% from 2024.

Principal risks and uncertainties
 
The company is not immune to risks and takes a responsible and balanced approach towards risk management. The directors have put procedures in place aimed to minimise the possibility and scale of specific risks that may impact the company. The company benefits from a strong market presence, reputation and goodwill and low workforce turnover. 

Development and performance 

The directors are continually assessing market positions and adjusting operations to take advantage of business opportunities. The directors are confident that the company has resources in place to take advantage of opportunities but note that further increased trading will require enhanced resource. Overall, the company can adapt to change and will continue a flexible approach.

Financial key performance indicators
 
The directors are continually assessing market positions and adjusting operations to take advantage of business opportunities.

The company's key financial indicators during the year were as follows:



2025
2024


Turnover
£000's
9,284
11,182

Turnover growth
%
(17.0)
(22.5)

Gross profit margin
%
35.0
34.7

Profit before tax
£000's
(469)
177

Net assets
£000's
2,868
3,250




This report was approved by the board and signed on its behalf.



Dr G Nehls
Director

Date: 6 July 2026

Page 1

 
HIDEF AERIAL SURVEYING LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025

The directors present their report and the financial statements for the year ended 31 October 2025.

Principal activity

The principal activity of the company and group continued to be that of high-definition wildlife aerial surveying and environmental consulting. This is primarily selling of a service but has also been the sale of goods.

Results and dividends

The loss for the year, after taxation, amounted to £381,733 (2024 - profit £218,820).

No ordinary dividends were paid (2024: £1,380,547). The directors do not propose a final dividend.

Directors

The directors who served during the year were:

Dr G Nehls 
Mr F Lecorps 
Mr N Tompkins 

Financial instruments

The company's principal financial instruments comprise bank balances, trade debtors, trade creditors and loans to related parties. The main purpose of these instruments is to finance the business operations. 

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility. The company's cash balances are held in such a way that achieves a competitive rate of interest. 

Trade debtors are supported by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. 

Interest is charged on the balance of loans to the subsidiary company at a floating rate of interest.

The company seeks to reduce exposure to foreign currency exchange rate fluctuations by holding balances in the local currencies of its main suppliers and customers, being Sterling, Euros and US and Australian Dollars.

Future developments

In the next financial year the Directors expect the Company to continue its restructuring, stabilisation and diversification activities in response to prevailing offshore wind market conditions. The Directors will continue to focus on operational efficiency, diversification of service offerings and selective geographic expansion in support of the Company's medium and long-term growth objectives.

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 and the Group'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 and the Group's auditors are aware of that information.

Page 2

 
HIDEF AERIAL SURVEYING LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption. 

Auditors

Under section 487(2) of the Companies Act 2006Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.
 





Dr G Nehls
Director

Date: 6 July 2026

Page 3

 
HIDEF AERIAL SURVEYING LIMITED
 

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2025

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.

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 the Group and of the profit or loss of the Group for that period.

 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 judgments 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 2006They 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.

Page 4

 
HIDEF AERIAL SURVEYING LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HIDEF AERIAL SURVEYING LIMITED
 

Opinion


We have audited the financial statements of HiDef Aerial Surveying Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 October 2025, which comprise the Consolidated Profit and Loss Account, the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, 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 policiesThe 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 Group's and of the parent Company's affairs as at 31 October 2025 and of the Group's loss 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 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.


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 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.


Page 5

 
HIDEF AERIAL SURVEYING LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HIDEF AERIAL SURVEYING LIMITED (CONTINUED)


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 ReportOur 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.


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 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.


Matters on which we are required to report by exception
 

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.


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 by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company 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 4, 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 Group's and the parent 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 Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
HIDEF AERIAL SURVEYING LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HIDEF AERIAL SURVEYING 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 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector; 
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; 
we assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and 
identified laws and regulations were communicated with the audit team and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatements including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and 
understanding the design of the company's remuneration policies.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation; 
enquiring of management and those charged with governance as to actual and potential litigation and claims;
enquiring of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations; and
reviewing correspondence

In response to the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships; 
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias, and
investigated the rationale behind significant or unusual transactions.
Page 7

 
HIDEF AERIAL SURVEYING LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HIDEF AERIAL SURVEYING LIMITED (CONTINUED)



Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 2006Our 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.





David Harper (Senior Statutory Auditor)  
Armstrong Watson Audit Limited
 
Chartered Accountants & Statutory Auditors
  
Carlisle

23 July 2026
Page 8

 
HIDEF AERIAL SURVEYING LIMITED
 

CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2025

2025
2024
Note
£
£

  

Turnover
 4 
9,283,767
11,181,656

Cost of sales
  
(6,031,531)
(7,300,797)

Gross profit
  
3,252,236
3,880,859

Administrative expenses
  
(3,577,951)
(3,707,944)

Reorganisation costs
 12 
(152,402)
-

Other operating income
  
-
500

Operating (loss)/profit
 5 
(478,117)
173,415

Interest receivable and similar income
 9 
9,074
3,493

Interest payable and similar expenses
 10 
(319)
-

(Loss)/profit before tax
  
(469,362)
176,908

Tax on (loss)/profit
 11 
87,629
41,912

(Loss)/profit for the financial year
  
(381,733)
218,820

(Loss)/profit for the year attributable to:
  

Owners of the  Company
  
(381,733)
218,820

  
(381,733)
218,820

The notes on pages 16 to 34 form part of these financial statements.

Page 9

 
HIDEF AERIAL SURVEYING LIMITED
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025

2025
2024
Note
£
£


(Loss)/profit for the financial year

  

(381,733)
218,820

Other comprehensive income
  

Total comprehensive income for the year
  
(381,733)
218,820

(Loss)/profit for the year attributable to:
  


Owners of the  Company
  
(381,733)
218,820

  
(381,733)
218,820

The notes on pages 16 to 34 form part of these financial statements.

Page 10

 
HIDEF AERIAL SURVEYING LIMITED
REGISTERED NUMBER: 05587044

CONSOLIDATED BALANCE SHEET
AS AT 31 OCTOBER 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 13 
-
-

Tangible assets
 14 
361,001
619,196

  
361,001
619,196

Current assets
  

Debtors: amounts falling due within one year
 17 
1,266,466
1,892,285

Cash at bank and in hand
 18 
2,134,742
2,000,304

  
3,401,208
3,892,589

Creditors: amounts falling due within one year
 19 
(833,474)
(1,144,157)

Net current assets
  
 
 
2,567,734
 
 
2,748,432

Total assets less current liabilities
  
2,928,735
3,367,628

Provisions for liabilities
  

Deferred taxation
 20 
(60,642)
(117,802)

  
 
 
(60,642)
 
 
(117,802)

Net assets
  
2,868,093
3,249,826


Capital and reserves
  

Called up share capital 
 21 
316
316

Share premium account
  
4,232
4,232

Profit and loss account
  
2,863,545
3,245,278

Equity attributable to owners of the parent Company
  
2,868,093
3,249,826

  
2,868,093
3,249,826

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr G Nehls
Director

Date: 6 July 2026

The notes on pages 16 to 34 form part of these financial statements.

Page 11

 
HIDEF AERIAL SURVEYING LIMITED
REGISTERED NUMBER: 05587044

COMPANY BALANCE SHEET
AS AT 31 OCTOBER 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 13 
-
-

Tangible assets
 14 
355,882
617,606

Investments
 15 
9
8

  
355,891
617,614

Current assets
  

Debtors: amounts falling due within one year
 17 
1,643,102
2,082,191

Cash at bank and in hand
 18 
2,075,421
1,918,546

  
3,718,523
4,000,737

Creditors: amounts falling due within one year
 19 
(800,212)
(1,164,962)

Net current assets
  
 
 
2,918,311
 
 
2,835,775

Total assets less current liabilities
  
3,274,202
3,453,389

  

Provisions for liabilities
  

Deferred taxation
 20 
(60,642)
(117,802)

  
 
 
(60,642)
 
 
(117,802)

Net assets
  
3,213,560
3,335,587


Capital and reserves
  

Called up share capital 
 21 
316
316

Share premium account
  
4,232
4,232

Profit and loss account
  
3,209,012
3,331,039

  
3,213,560
3,335,587


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Dr G Nehls
Director

Date: 6 July 2026

The notes on pages 16 to 34 form part of these financial statements.

Page 12

 
HIDEF AERIAL SURVEYING LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 November 2023
316
4,232
4,407,005
4,411,553



Profit for the year
-
-
218,820
218,820

Dividends: Equity capital
-
-
(1,380,547)
(1,380,547)



At 1 November 2024
316
4,232
3,245,278
3,249,826



Loss for the year
-
-
(381,733)
(381,733)


At 31 October 2025
316
4,232
2,863,545
2,868,093


The notes on pages 16 to 34 form part of these financial statements.

Page 13

 
HIDEF AERIAL SURVEYING LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 November 2023
316
4,232
4,405,706
4,410,254



Profit for the year
-
-
305,880
305,880

Dividends: Equity capital
-
-
(1,380,547)
(1,380,547)



At 1 November 2024
316
4,232
3,331,039
3,335,587



Loss for the year
-
-
(122,027)
(122,027)


At 31 October 2025
316
4,232
3,209,012
3,213,560


The notes on pages 16 to 34 form part of these financial statements.

Page 14

 
HIDEF AERIAL SURVEYING LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025

2025
2024
£
£

Cash flows from operating activities

(Loss)/profit for the financial year
(381,733)
218,820

Adjustments for:

Amortisation of intangible assets
-
3,762

Depreciation of tangible assets
315,327
371,667

Gain on disposal of tangible assets
1,072
5,225

Interest paid
319
-

Investment income
(9,074)
(3,493)

Taxation charge
(87,629)
(41,912)

Decrease in debtors
656,288
927,786

(Decrease) in creditors
(310,683)
(731,731)

Corporation tax received/(paid)
-
(267,174)

Net cash generated from operating activities

183,887
482,950


Cash flows from investing activities

Purchase of tangible fixed assets
(64,932)
(251,163)

Sale of tangible fixed assets
6,728
5,238

Interest received
9,074
3,493

Net cash from investing activities

(49,130)
(242,432)

Cash flows from financing activities

Dividends paid
-
(1,380,547)

Interest paid
(319)
-

Net cash used in financing activities
(319)
(1,380,547)

Net increase/(decrease) in cash and cash equivalents
134,438
(1,140,029)

Cash and cash equivalents at beginning of year
2,000,304
3,140,333

Cash and cash equivalents at the end of year
2,134,742
2,000,304


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
2,134,742
2,000,304

2,134,742
2,000,304


The notes on pages 16 to 34 form part of these financial statements.

Page 15

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

1.


General information

HiDef Aerial Surveying Limited ("the company") is a private limited company, limited by shares, domiciled and incorporated in England and Wales. The registered office is Unit 2 Dobies Business Park, Lillyhall, Workington, Cumbria, England, CA14 4HX. 

The group consists of HiDef Aerial Surveying Limited and all of its subsidiaries. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts 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. 

  
2.2

Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the equity instruments. The parent invested in subscriber shares of the then dormant subsidiary. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

There is no deferred tax related to this investment 

 
2.3

Basis of consolidation

The consolidated group financial statements consist of the financial statement of the parent company HiDef Aerial Surveying Limited together with all entities controlled by the parent company (its subsidiaries).

All financial statements are made up to 31 October 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
 
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. 

Subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases.

 
2.4

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 

Page 16

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. 

 
2.7

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. 

  
2.8

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. 

 
2.9

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. Corporation tax savings as a result of research and development relief are shown in note 11.

Page 17

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

  
2.10

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. 

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.13

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

 
2.14

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 balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.

 
2.15

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.

Page 18

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

 
2.16

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Licences
-
20%
straight line basis

 
2.17

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:

Short-term leasehold property
-
Over the minimum term of the lease
Hardware
-
25% straight line basis
Motor vehicles
-
25% straight line basis
Office equipment
-
15% straight line basis
Computers and software
-
33% straight line basis
Other fixed assets
-
15% straight line basis

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.

 
2.18

Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Page 19

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

  
2.19

Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply, Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

 
2.20

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.

 
2.21

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. 

 
2.22

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 20

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

 
2.23

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.

 
2.24

Financial instruments

The Group 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 Group's Balance Sheet when the Group 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 receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

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 21

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)


2.24
Financial instruments (continued)

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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. 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 payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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 Group 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 Group 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 Group's contractual obligations expire or are discharged or cancelled.

 
2.25

Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group. 

Page 22

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 


4.


Turnover and other revenue

An analysis of turnover by class of business is as follows:


2025
2024
£
£

Survey revenue
8,257,988
10,242,714

Consulting revenue
618,040
826,104

Service revenue
407,739
112,838

9,283,767
11,181,656


Analysis of turnover by country of destination:

2025
2024
£
£

United Kingdom
5,969,807
2,347,146

European Union
2,862,282
8,052,955

Rest of the world
451,678
781,555

9,283,767
11,181,656


2025
2024
£
£

Other revenue


Interest receivable
9,074
3,493

Grants received
-
500

Page 23

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

5.


Operating (loss)/profit

The operating (loss)/profit is stated after charging:

2025
2024
£
£

Research & development charged as an expense
44,842
45,550

Exchange differences
(75,748)
103,688

Operating lease charges
201,218
200,331

Government grants
-
(500)

Depreciation of owned tangible fixed assets
315,316
371,658

Profit on disposal of tangible fixed assets
1,072
5,225

Amortisation of intangible assets
-
3,762


6.


Auditors' remuneration

Fees payable to the company's auditor and associates:


2025
2024
£
£

Audit of the financial statements of the group and company
14,418
13,350


7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£


Wages and salaries
4,119,144
4,560,554
4,002,886
4,467,426

Social security costs
457,138
421,653
457,138
421,653

Cost of defined contribution scheme
209,741
304,245
199,813
302,121

4,786,023
5,286,452
4,659,837
5,191,200


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2025
        2024
        2025
        2024
            No.
            No.
            No.
            No.









112
128
109
127

Page 24

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

8.


Directors' remuneration

2025
2024
£
£

Directors' emoluments
181,338
306,685

Group contributions to defined contribution pension schemes
20,530
97,641

201,868
404,326


During the year retirement benefits were accruing to 1 director (2024 - 3) in respect of defined contribution pension schemes.


Remuneration disclosed above includes the following amounts paid to the highest paid director:


2025
2024
£
£



Remuneration for qualifying services
181,338
152,875

Company pension contributions to defined contribution schemes
20,530
17,328


9.


Interest receivable

2025
2024
£
£


Other interest receivable
9,074
3,493

9,074
3,493







10.


Interest payable and similar expenses

2025
2024
£
£


Other loan interest payable
319
-

319
-

Page 25

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

11.


Taxation


2025
2024
£
£

Corporation tax


Current tax on profits for the year
(30,469)
-

Adjustments in respect of previous periods
-
(562)


(30,469)
(562)


Total current tax
(30,469)
(562)

Deferred tax


Origination and reversal of timing differences
(57,160)
(41,350)

Total deferred tax
(57,160)
(41,350)


Tax on (loss)/profit
(87,629)
(41,912)

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
£
£


(Loss)/profit on ordinary activities before tax
(469,362)
263,968


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
(117,341)
65,992

Effects of:


Tax effect of expenses that are not deductible in determining taxable profit
65,772
2,230

Adjustments to tax charge in respect of prior periods
3,143
-

Depreciation on assets not qualifying for tax allowances
23
3,087

Amortisation on assets not qualifying for tax allowances
-
941

Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge
13,075
-

Research and development tax credit
(52,301)
(89,217)

Other non-reversing timing differences
-
(24,945)

Total tax charge for the year
(87,629)
(41,912)

Page 26

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

12.


Exceptional items

2025
2024
£
£


Reorganisation costs
152,402
-

152,402
-


13.


Intangible assets

Group and Company





Licences

£



Cost


At 1 November 2024
300,886



At 31 October 2025

300,886



Amortisation


At 1 November 2024
300,886



At 31 October 2025

300,886



Net book value



At 31 October 2025
-



At 31 October 2024
-


All of the Group's intangible fixed assets are held in the Parent company.



Page 27

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

14.


Tangible fixed assets

Group






Short leasehold land and building
Hardware
Computers and software
Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 November 2024
155,686
943,188
654,963
36,089
69,844
-
1,859,770


Additions
8,342
20,773
9,057
-
20,032
6,728
64,932


Disposals
-
(8,051)
(143,515)
-
(2,415)
(6,728)
(160,709)



At 31 October 2025

164,028
955,910
520,505
36,089
87,461
-
1,763,993



Depreciation


At 1 November 2024
95,270
573,735
534,048
14,145
23,376
-
1,240,574


Charge for the year on owned assets
42,994
158,341
92,644
9,022
12,326
-
315,327


Disposals
-
(8,051)
(143,239)
-
(1,619)
-
(152,909)



At 31 October 2025

138,264
724,025
483,453
23,167
34,083
-
1,402,992



Net book value



At 31 October 2025
25,764
231,885
37,052
12,922
53,378
-
361,001



At 31 October 2024
60,416
369,453
120,915
21,944
46,468
-
619,196

Page 28

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

           14.Tangible fixed assets (continued)


Company






Short leasehold land and building
Hardware
Computers and software
Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£
£
£
£

Cost or valuation


At 1 November 2024
155,686
943,188
651,892
36,089
69,844
-
1,856,699


Additions
8,342
20,773
7,816
-
16,245
6,728
59,904


Disposals
-
(8,051)
(143,515)
-
(2,415)
(6,728)
(160,709)



At 31 October 2025

164,028
955,910
516,193
36,089
83,674
-
1,755,894



Depreciation


At 1 November 2024
95,270
573,735
532,567
14,145
23,376
-
1,239,093


Charge for the year on owned assets
42,994
158,341
91,603
9,022
11,868
-
313,828


Disposals
-
(8,051)
(143,239)
-
(1,619)
-
(152,909)



At 31 October 2025

138,264
724,025
480,931
23,167
33,625
-
1,400,012



Net book value



At 31 October 2025
25,764
231,885
35,262
12,922
50,049
-
355,882



At 31 October 2024
60,416
369,453
119,325
21,944
46,468
-
617,606






Page 29

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

15.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2024
8


Additions
1



At 31 October 2025
9





16.



Subsidiary undertakings



Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

BioConsult US HiDef Inc.
206 E. 9th St, STE. 1300 Austin, TX 78701, USA
Common stock
100%
HiDef Aerial Surveying (Australia) PTY Ltd
Level 1, 452 Flinders Street, Melbourne, VIC 3000
Common stock
100%


17.


Debtors

Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£


Trade debtors
655,600
1,085,430
645,797
1,085,384

Amounts owed by group undertakings
-
-
260,148
220,312

Other debtors
106,126
95,910
106,126
92,530

Prepayments and accrued income
504,740
710,945
631,031
683,965

1,266,466
1,892,285
1,643,102
2,082,191


Page 30

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

18.


Cash and cash equivalents

Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£

Cash at bank and in hand
2,134,742
2,000,304
2,075,421
1,918,546

2,134,742
2,000,304
2,075,421
1,918,546



19.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£

Trade creditors
451,618
398,278
352,509
426,477

Other taxation and social security
105,016
98,460
92,977
94,892

Other creditors
22,463
36,057
22,463
33,025

Accruals and deferred income
254,377
611,362
332,263
610,568

833,474
1,144,157
800,212
1,164,962


Page 31

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

20.


Deferred taxation


Group



2025


£






At beginning of year
117,802


Charged to profit or loss
57,160



At end of year
60,642

Company


2025


£






At beginning of year
117,802


Charged to profit or loss
57,160



At end of year
60,642

Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£

Accelerated capital allowances
68,071
133,341
60,642
117,802

Tax losses carried forward
7,429
15,539
-
-

60,642
117,802
60,642
117,802

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.


21.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



316 (2024 - 316) Ordinary shares of £1.00 each
316
316


Page 32

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
22.


Analysis of net debt




At 1 November 2024
Cash flows
At 31 October 2025
£

£

£

Cash at bank and in hand

2,000,304

134,438

2,134,742


2,000,304
134,438
2,134,742


23.


Retirement benefit schemes

2025
2024
£
£

Defined contribution schemes


Charge to profit or loss in respect of defined contribution schemes
209,741
301,495

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. There were outstanding contributions of £29,716 (2024: £45,083) at the year end date.


24.


Commitments under operating leases

At 31 October 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£

Within one year
58,706
189,830
58,706
189,830

Between two and five years
43,840
102,345
43,840
102,345

102,546
292,175
102,546
292,175

Page 33

 
HIDEF AERIAL SURVEYING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025

25.


Related party transactions

Transactions with related parties 

During the year the group entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£

Group

Entities with control, joint control or significant influence over the group
1,969,727
1,520,238
34,014
104,164

1,969,727
1,520,238
34,014
104,164

The following amounts were outstanding at the reporting end date: 

Amounts due from related parties


2025
2024
£
£

Group


Entities with control, joint control or significant influence over the group
79,266
179,169

79,266
179,169


26.


Controlling party

The company's immediate parent is BioConsult UK GmbH, incorporated in Germany. Registered office Schobuller Strasse 36, 25813 Husum, Germany.

The ultimate controlling party is Dr G Nehls


Page 34