Company registration number SC180834 (Scotland)
HEVAC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
HEVAC LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
HEVAC LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr D W McKinlay
Mr D L MacPherson
Secretary
Mr D L MacPherson
Company number
SC180834
Registered office
Unit A, 1 Young Place
Kelvin Industrial Estate
East Kilbride
Scotland
G75 0TD
Accountants
Dains Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
HEVAC LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 2 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,063
28,337
Current assets
Stocks
32,681
22,558
Debtors
4
56,451
213,305
Cash at bank and in hand
150,876
164,119
240,008
399,982
Creditors: amounts falling due within one year
5
(100,175)
(177,451)
Net current assets
139,833
222,531
Total assets less current liabilities
156,896
250,868
Provisions for liabilities
6
(1,336)
(2,414)
Net assets
155,560
248,454
Capital and reserves
Called up share capital
8
27,502
27,502
Capital redemption reserve
22,502
22,502
Profit and loss reserves
105,556
198,450
Total equity
155,560
248,454

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

HEVAC LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 8 June 2026 and are signed on its behalf by:
Mr D L MacPherson
Director
Company Registration No. SC180834
HEVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
1
Accounting policies
Company information

Hevac Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit A, 1 Young Place, Kelvin Industrial Estate, East Kilbride, Scotland, G75 0TD. The company's registration number is SC180834.

1.1
Accounting convention

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 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

1.2
Turnover

The turnover shown in the profit and loss account represents the value of all goods sold during the year, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- 10% - 20% on cost
Fixtures, fittings and equipment
- 10% - 25% on cost
Computers
- 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

1.5
Stocks

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

1.6
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.

HEVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
1.7
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.

1.8
Equity instruments

Equity instruments issued by the company 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 company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
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.

1.11
Retirement benefits

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

HEVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 6 -
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
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 the profit and loss account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Total
2
2
3
Tangible fixed assets
Plant and equipment
Fixtures, fittings and equipment
Computers
Total
£
£
£
£
Cost
At 1 April 2025
14,200
17,577
4,022
35,799
Disposals
-
0
(8,178)
-
0
(8,178)
Transfers
9,399
(9,399)
-
0
-
0
At 31 March 2026
23,599
-
0
4,022
27,621
Depreciation and impairment
At 1 April 2025
118
6,527
817
7,462
Depreciation charged in the year
4,119
-
0
804
4,923
Eliminated in respect of disposals
-
0
(1,827)
-
0
(1,827)
Transfers
4,700
(4,700)
-
0
-
0
At 31 March 2026
8,937
-
0
1,621
10,558
Carrying amount
At 31 March 2026
14,662
-
0
2,401
17,063
At 31 March 2025
14,082
11,050
3,205
28,337
HEVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
54,045
210,976
Other debtors
2,406
2,329
56,451
213,305
5
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
53,542
96,451
Taxation and social security
41,533
75,799
Other creditors
5,100
5,201
100,175
177,451
6
Provisions for liabilities
2026
2025
£
£
Deferred tax liabilities
7
1,336
2,414
7
Deferred taxation

The following are the major deferred tax liabilities recognised by the company and movements thereon:

2026
2025
Balances:
£
£
Accelerated capital allowances
1,336
2,414
2026
Movements in the year:
£
Liability at 1 April 2025
2,414
Credit to profit or loss
(1,078)
Liability at 31 March 2026
1,336
HEVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
8
Called up share capital
2026
2025
£
£
Ordinary share capital
Issued and fully paid
27,502 Ordinary shares of £1
27,502
27,502
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
12,404
3,808
10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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