Hurryflow Limited

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 March 2025

DIRECTORS:

J Q Hitchcock

F Q T Hitchcock

REGISTERED OFFICE:

Bear Hotel

High Street

Cowbridge

CF71 7AF

REGISTERED NUMBER:

02644269 (England and Wales)

SENIOR STATUTORY AUDITOR:

Nicholas Matthew Toye, FCA

AUDITORS:

BPU Limited

Chartered Accountants

Statutory Auditor

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS

The company has generated revenue of £4.7m, and a profit on ordinary shares before taxation of £178k.

Sector Trends & Cost Challenges

The wider hospitality sector continues to face structural cost pressures across food, energy, and supply chains. Payroll remains the Company's most challenging cost, reflecting both external factors such as National Minimum Wage increases and higher NICs, and the Company's own decision to strengthen its employee value proposition. Becoming a competitive regional employer, not just within hospitality but across the labour market more broadly, has meant further investment in wages, training, and retention. This strengthens long-term resilience but has added to near-term cost pressures.

Strategic Focus & Risk Management

Management continues to focus on:

-

Margin stability: maintaining a disciplined approach to pricing and cost control while recognising limits to customer affordability.

-

People & culture: ongoing investment in leadership development and recognition programmes to support retention.

-

Selective investment: prioritising projects that sustain guest experience and operational efficiency, balanced against the need for cautious capital management.

-

The Company recognises there is a backlog of capital expenditure requirements across the estate, and is balancing the need to address these with a cautious approach to cash management.

-

Risk mitigation: addressing inflationary pressures and regulatory changes through proactive planning, while maintaining insurance and contingency protections against operational disruption.

Outlook

The directors acknowledge that trading conditions will remain difficult in the near term, particularly as sector-wide payroll and utility costs show little sign of abating. However, the Company has demonstrated resilience through year-on-year turnover growth, stable operating profit, and continued focus on people and guest experience. Management remain determined to address margin pressures and are confident that, through a combination of cost discipline, investment in people, and selective capital expenditure, the Company is well-positioned to navigate current challenges and preserve long-term value.

KEY PERFORMANCE INDICATORS

The directors consider that KPI's of the business relate to turnover and operating profit.

THIS REPORT WAS APPROVED BY THE BOARD:

F Q T Hitchcock - Director

19 November 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the operation of hotels and other venues within the hospitality industry.

DIVIDENDS

The total distribution of ordinary dividends for the year ended 31 March 2025 of £250,000 (2024: £442,000) was paid.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

J Q Hitchcock

F Q T Hitchcock

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

THIS REPORT WAS APPROVED BY THE BOARD:

F Q T Hitchcock - Director

19 November 2025

Opinion

We have audited the financial statements of Hurryflow Limited (the 'company') for the year ended 31 March 2025 which comprise the Profit & Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risks of acts by the company that were contrary to applicable laws and regulations, including fraud.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

The laws and regulations that we determined were most significant to the company were the Companies Act 2006, UK Corporate Tax Laws, Employment Law, Health and Safety at Work Act and Food Hygiene Standards. We obtained an understanding of how the company is complying with those laws and regulations by making enquiries to the management.

We assessed the susceptibility of the companys financial statements to material misstatement, including how fraud might occur, and did not identify any key audit matters relating to irregularities, including fraud. We assessed the effectiveness of internal controls that management has in place to prevent and detect fraud, including testing of manual journals and evaluating the assumptions and judgements made by management in its significant accounting estimates.

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 Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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.

Nicholas Matthew Toye, FCA (Senior Statutory Auditor)

for and on behalf of BPU Limited

Chartered Accountants

Statutory Auditor

25 November 2025

TURNOVER

2

4,749,310

4,247,275

Cost of sales

(2,919,670

)

(2,577,621

)

GROSS PROFIT

1,829,640

1,669,654

Administrative expenses

(1,833,649

)

(1,414,150

)

(4,009

)

255,504

Other operating income

3

102,124

79,446

OPERATING PROFIT

5

98,115

334,950

Interest receivable & similar income

79,788

72,639

PROFIT BEFORE TAXATION

177,903

407,589

Tax on profit

6

(14,375

)

116,948

PROFIT FOR THE FINANCIAL YEAR

163,528

524,537

PROFIT FOR THE YEAR

163,528

524,537

OTHER COMPREHENSIVE INCOME

Freehold property revaluation

(733,529

)

(834,000

)

Income tax relating to other comprehensive income

(89,000

)

215,000

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(822,529

)

(619,000

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(659,001

)

(94,463

)

FIXED ASSETS

Intangible assets

8

-

-

Tangible assets

9

5,556,521

6,702,309

Investment property

10

475,000

500,000

6,031,521

7,202,309

CURRENT ASSETS

Stocks

11

50,093

39,405

Debtors

12

689,703

165,582

Cash at bank and in hand

1,842,918

1,412,502

2,582,714

1,617,489

CREDITORS

Amounts falling due within one year

13

665,609

728,870

NET CURRENT ASSETS

1,917,105

888,619

TOTAL ASSETS LESS CURRENT LIABILITIES

7,948,626

8,090,928

CREDITORS

Amounts falling due after more than one year

14

(4,767,906

)

(4,049,207

)

PROVISIONS FOR LIABILITIES

15

(48,000

)

-

NET ASSETS

3,132,720

4,041,721

CAPITAL AND RESERVES

Called up share capital

16

48,825

48,825

Revaluation reserve

17

1,789,230

2,779,759

Capital redemption reserve

17

96,828

96,828

Retained earnings

17

1,197,837

1,116,309

SHAREHOLDERS' FUNDS

3,132,720

4,041,721

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

F Q T Hitchcock - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

48,825

1,033,772

3,398,759

96,828

4,578,184

Changes in equity

Dividends

-

(442,000

)

-

-

(442,000

)

Total comprehensive income

-

524,537

(619,000

)

-

(94,463

)

Balance at 31 March 2024

48,825

1,116,309

2,779,759

96,828

4,041,721

Changes in equity

Dividends

-

(250,000

)

-

-

(250,000

)

Total comprehensive income

-

331,528

(990,529

)

-

(659,001

)

Balance at 31 March 2025

48,825

1,197,837

1,789,230

96,828

3,132,720

Cash flows from operating activities

Cash generated from operations

1

365,990

473,016

Tax paid

(34,052

)

(13,129

)

Net cash from operating activities

331,938

459,887

Cash flows from investing activities

Purchase of tangible fixed assets

(66,310

)

(45,407

)

Sale of tangible fixed assets

335,000

8,250

Interest received

79,788

72,639

Net cash from investing activities

348,478

35,482

Cash flows from financing activities

Equity dividends paid

(250,000

)

(442,000

)

Net cash from financing activities

(250,000

)

(442,000

)

Increase in cash and cash equivalents

430,416

53,369

Cash and cash equivalents at beginning of year

2

1,412,502

1,359,133

Cash and cash equivalents at end of year

2

1,842,918

1,412,502

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

177,903

407,589

Depreciation charges

78,569

68,589

Loss/(profit) on disposal of fixed assets

65,000

(3,702

)

Loss on revaluation of fixed assets

25,000

-

Finance income

(79,788

)

(72,639

)

266,684

399,837

(Increase)/decrease in stocks

(10,688

)

4,544

(Increase)/decrease in trade and other debtors

(577,121

)

14,165

Increase in trade and other creditors

687,115

54,470

Cash generated from operations

365,990

473,016

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

1,842,918

1,412,502

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

1,412,502

1,359,133

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

1,412,502

430,416

1,842,918

1,412,502

430,416

1,842,918

Total

1,412,502

430,416

1,842,918

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% straight line

Fixtures and fittings

-

Between 10% and 20% straight line

Motor vehicles

-

25% straight line

Computer equipment

-

25% straight line

The freehold property is being depreciated over its estimated useful life of 50 years. The depreciation charge is based on the total value of the property.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Wet and dry sales

3,398,630

2,967,355

Accommodation and other income

1,350,680

1,279,920

4,749,310

4,247,275

3.	OTHER OPERATING INCOME

2025

2024

£

£

Rents received

82,124

63,086

Grant income

20,000

16,360

102,124

79,446

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,904,084

1,723,691

Social security costs

160,959

125,938

Other pension costs

100,609

71,247

2,165,652

1,920,876

The average number of employees during the year was as follows:

2025

2024

Directors

2

2

Management

2

2

Other staff

108

108

112

112

During the year, a total of key management personnel compensation of £100,111 was paid.

2025

2024

£

£

Directors' remuneration

145,000

145,000

Directors' pension contributions to money purchase schemes

11,712

12,550

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

78,569

68,588

Loss/(profit) on disposal of fixed assets

65,000

(3,702

)

Audit fees

34,500

6,000

Auditors' remuneration for non audit work

2,270

-

6.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

2,375

34,052

Deferred tax

12,000

(151,000

)

Tax on profit

14,375

(116,948

)

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

177,903

407,589

Profit multiplied by the standard rate of corporation tax in the UK of 19% (2024 - 25%)

33,802

101,897

Effects of:

Expenses not deductible for tax purposes

17,235

1,382

Capital allowances in excess of depreciation

(3,050

)

(20,431

)

Utilisation of tax losses

(45,612

)

(48,796

)

Deferred tax movement

12,000

(151,000

)

Total tax charge/(credit)

14,375

(116,948

)

Tax effects relating to effects of other comprehensive

income

2025

Gross

Tax

Net

£

£

£

Freehold property revaluation

(733,529

)

(89,000

)

(822,529

)

2024

Gross

Tax

Net

£

£

£

Freehold property revaluation

(834,000

)

215,000

(619,000

)

7.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £0.25 each

Paid

250,000

442,000

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

105,000

AMORTISATION

At 1 April 2024

and 31 March 2025

105,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

9.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 April 2024

6,562,666

694,367

324,342

Additions

29,067

15,762

14,857

Disposals

(400,000

)

-

-

Revaluations

(733,529

)

-

-

At 31 March 2025

5,458,204

710,129

339,199

DEPRECIATION

At 1 April 2024

-

625,283

277,032

Charge for year

27,291

28,745

14,739

At 31 March 2025

27,291

654,028

291,771

NET BOOK VALUE

At 31 March 2025

5,430,913

56,101

47,428

At 31 March 2024

6,562,666

69,084

47,310