Company No: 16398598 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2026
		£
Fixed assets
Intangible assets	3	391,855
Tangible assets	4	114,153
		506,008
Current assets
Stocks		30,130
Debtors	5	117,204
Cash at bank and in hand		14
		147,348
Creditors: amounts falling due within one year	6	( 794,934)
Net current liabilities		(647,586)
Total assets less current liabilities		(141,578)
Provision for liabilities		( 23,455)
Net liabilities		( 165,033)
Capital and reserves
Called-up share capital	7	1
Profit and loss account		( 165,034 )
Total shareholder's deficit		( 165,033)

For the financial period ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Nicol and Andrew (Hydraulics) Limited (registered number: 16398598) were approved and authorised for issue by the Board of Directors on 15 September 2026. They were signed on its behalf by:

D S Sneddon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Nicol and Andrew (Hydraulics) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Flat 28 Speed House, Barbican, London, EC2Y 8AT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £165,033. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services to external customers in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company. Turnover is recognised when the goods or services have been delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	5 years straight line
Vehicles	5 years straight line
Fixtures and fittings	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in, first out (FIFO) method.

Accrued repair service income is valued based on the stage of completion of the order. As such WIP should be reclassified as Accrued Service Income in Current Assets - Debtors.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	Period from 22.04.2025 to 31.03.2026
	Number
Monthly average number of persons employed by the Company during the period, including directors	11

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 22 April 2025	0		0
Additions	470,226		470,226
At 31 March 2026	470,226		470,226
Accumulated amortisation
At 22 April 2025	0		0
Charge for the financial period	78,371		78,371
At 31 March 2026	78,371		78,371
Net book value
At 31 March 2026	391,855		391,855

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 22 April 2025	0		0		0		0		0
Additions	5,984		106,000		15,000		10,000		136,984
At 31 March 2026	5,984		106,000		15,000		10,000		136,984
Accumulated depreciation
At 22 April 2025	0		0		0		0		0
Charge for the financial period	997		17,667		2,500		1,667		22,831
At 31 March 2026	997		17,667		2,500		1,667		22,831
Net book value
At 31 March 2026	4,987		88,333		12,500		8,333		114,153

5. Debtors

	31.03.2026
	£
Trade debtors	107,826
Prepayments	9,378
	117,204

6. Creditors: amounts falling due within one year

	31.03.2026
	£
Trade creditors	11,333
Amounts owed to Parent undertakings	694,421
Accruals	8,115
Other taxation and social security	77,407
Other creditors	3,658
	794,934

7. Called-up share capital

	31.03.2026
	£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1

8. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with other wholly owned members of the group.

9. Ultimate controlling party

Parent Company:

Leviathan Newco 4 Limited

Flat 28 Speed House, Barbican, London, EC2Y 8AT