Registered number: 03401820
 

 

HRS HEVAC LIMITED

FINANCIAL STATEMENTS
 

FOR THE YEAR ENDED 31 DECEMBER 2025

HRS HEVAC LIMITED

 

COMPANY INFORMATION

HRS HEVAC LIMITED

 

CONTENTS

HRS HEVAC LIMITED

REGISTERED NUMBER: 03401820

BALANCE SHEET

AS AT 31 DECEMBER 2025

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company had opted not to file the Directors' Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
30 April 2026.

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HRS HEVAC LIMITED

 

 

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

HRS Hevac Limited (company number: 03401820), having its registered office and trading address at Lytchett House, 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA, is a private limited company incorporated in England and Wales. 

2.Accounting policies

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

The Company has made a profit of £2,530 (2024 profit: £6,638) during the year and has net assets of £636,593 (2024: £634,063). On 30 December 2022, the trading business of the Company was sold to a 3rd party meaning that this entity will continue to no longer have a trade moving forward. The Company will remain in operation until all debts are received and liabilities paid. 

The accounts have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

The Company has taken advantage of the exemption in section 1A.7 of Financial Reporting standard 102 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Short-term debtors are measured at transaction price, less any impairment. 

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

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HRS HEVAC LIMITED

 

 

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

Short-term creditors are measured at the transaction price.

Functional and presentation currency

The Company's functional and presentational currency is British Pound Sterling (GBP).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings  except when deferred in other comprehensive income as qualifying cash flow hedges.

Finance costs are charged to the Statement of Income and Retained Earnings 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.

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HRS HEVAC LIMITED

 

 

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation 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 operates and generates 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

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

Where the unavoidable costs of a lease exceed the economic benefit expected to be received from it, a provision is made for the present value of the obligations under the lease.

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HRS HEVAC LIMITED

 

 

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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HRS HEVAC LIMITED

 

 

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

As at 31 December 2025 and 31 December 2024, the Company's immediate parent undertaking was HRS Investments Limited, a company incorporated in England and Wales.

As at 31 December 2025 and 31 December 2024, the Company's ultimate parent undertaking was Exchanger Industries Limited, a company incorporated in Canada.

The smallest group in which the Company's results are consolidated is headed by Exchanger Industries UK Limited. These consolidated accounts are available to the public, and may be obtained from:

Lytchett House, 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA.

The Company has taken advantage from the exemption in Financial Reporting Standard 102, Section 33.1A not to disclose transactions with group entities which are wholly owned by a member of the group. 

The Company was subject to an audit for the year ended 31 December 2025. The audit report was issued with an unqualified opinion and an emphasis of matter paragraph in relation to going concern, referring to accounting policy 2.2, and signed on 07 May 2026 by Chris Gent BA FCA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.

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