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REGISTERED NUMBER: 05315236 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2024

for

HEAVEY RF UK LTD

HEAVEY RF UK LTD (Registered number: 05315236)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEAVEY RF UK LTD

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Michael Heavey
Ronan Clinton
Ciaran Lavelle
Andrew Moloney
Gerard Butler
S I Watson





REGISTERED OFFICE: Unit 2 Lancaster Court
Coronation Road
Cressex Business Park
High Wycombe
Buckinghamshire
HP12 3TD





REGISTERED NUMBER: 05315236 (England and Wales)





ACCOUNTANTS: Cansdales Business Advisers Limited
St Mary's Court
The Broadway
Old Amersham
Bucks
HP7 0UT

HEAVEY RF UK LTD (Registered number: 05315236)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 17,546 5,620

CURRENT ASSETS
Stocks 4 7,678 35,755
Debtors 5 2,012,498 1,526,310
Cash at bank 6 38,141 560,473
2,058,317 2,122,538
CREDITORS
Amounts falling due within one year 7 (1,491,591 ) (1,631,485 )
NET CURRENT ASSETS 566,726 491,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

584,272

496,673

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 583,272 495,673
SHAREHOLDERS' FUNDS 584,272 496,673

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HEAVEY RF UK LTD (Registered number: 05315236)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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




S I Watson - Director



Ronan Clinton - Director


HEAVEY RF UK LTD (Registered number: 05315236)

Notes to the Financial Statements
for the Year Ended 31 December 2024

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

TANGIBLE FIXED ASSETS
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Computer equipment - 20% Straight line
Fixtures, fittings and equipment - 20% Straight line
Plant & Machinery - 20% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

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 Income Statement, 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 not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date which are immaterial.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HEAVEY RF UK LTD (Registered number: 05315236)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ousts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

EMPLOYEE BENEFITS
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

HEAVEY RF UK LTD (Registered number: 05315236)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 44,562 42,794 524 87,880
Additions 19,619 - - 19,619
At 31 December 2024 64,181 42,794 524 107,499
DEPRECIATION
At 1 January 2024 41,560 40,280 420 82,260
Charge for year 6,091 1,498 104 7,693
At 31 December 2024 47,651 41,778 524 89,953
NET BOOK VALUE
At 31 December 2024 16,530 1,016 - 17,546
At 31 December 2023 3,002 2,514 104 5,620

4. STOCKS
2024 2023
£    £   
Finished goods 7,678 35,755

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 371,086 607,281
Directors' current accounts 133,023 130,096
CT Repayable - Section 455 tax
on director debit balance 43,421 42,433
Prepayments 15,997 7,893
Service Support Prepayment 1,263,563 738,607
1,827,090 1,526,310

Amounts falling due after more than one year:
Amounts owed by group undertakings 185,408 -

Aggregate amounts 2,012,498 1,526,310

6. CASH AT BANK
2024 2023
£    £   
HSBC Current Account 38,141 560,473

HEAVEY RF UK LTD (Registered number: 05315236)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 253,636 303,156
Owed to Group Undertaking - 53,149
Corporation tax 395,639 254,542
Social security and other tax 18,699 28,595
VAT 7,286 174,598
Other creditors - (35,580 )
Accruals and deferred income 811,421 847,955
Accrued expenses 4,910 5,070
1,491,591 1,631,485

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,000 28,000
Between one and five years 23,333 51,333
51,333 79,333

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
S I Watson
Balance outstanding at start of year 130,096 127,233
Amounts advanced 2,927 2,863
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 133,023 130,096

The director, Steven Watson, received a loan from the company over two years. At the reporting date, the total loan repayable by the director to the company amounted to £133,023 (2023:130,096). S455 tax has been paid on this overdrawn balance and Interest of 2.25% has been charged on this loan.

HEAVEY RF UK LTD (Registered number: 05315236)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. RELATED PARTY DISCLOSURES

Heavey RF UK Limited had purchases from Alton Future Technologies Limited during the year ended 31st December 2024 to the value of £31,710 (2023: 36,548) and there was no outstanding balance owed by Heavey RF UK Limited to Alton Future Technologies Limited at the 31st December 2024 (2023 : £NIL).

The directors of Heavey RF UK Limited are also the directors of Heavey Radio Frequency Data Systems Limited and Heavey Radio Frequency Data Systems Limited is also a shareholder of Heavey RF UK Limited. The owner of Alton Future Technologies Limited is a director and shareholder of Heavey RF UK Limited.

In the opinion of the directors these amounts arise in the ordinary course of business and the terms of the amounts due are in accordance with the terms ordinarily offered by the company.

Transactions and balances with group company:

Heavey Radio Frequency Data Systems Limited

During the year, Heavey RF UK Limited had sales of £467,332 (2023: £116,994 ) to Heavey Radio Frequency Data Systems Limited and purchases of £146,388 (2023: 34,617) from Heavey Radio Frequency Data Systems Limited.

2024 2023
£    £   
Amount due from/(owed to) Heavey Radio Frequency Data Systems Limited 185,408 -53,149

11. ULTIMATE CONTROLLING PARTY

The company regards Heavey Radio Frequency Data Systems Limited as its parent company.